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2713 Red Arrow Drive Las Vegas, NV 89135

5 Beds 6 Baths 4,725 sqft Built 2001

INVESTimate

$1,825,000

List Price

$6,090

$5,840 - $6,340

Rent Est.

$1,902,928  ( +4.27%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2001
  • Price/Sqft : $386.24
  • 57 Days on Market
  • MLS # : 2208846
  • Updated Date : 08/19/2020 at 17:23
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,725 sqft
  • Baths : 5 full , 1 half
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

This timeless estate is situated on the mountain side of the prestigious Red Arrow street in RRCC. Beyond the breathtaking views, this home boasts functionality with 5 large bedrooms, beautiful finishes, and more! Soak up the sun poolside, or gather around the fireplace, and enjoy all that this home has to offer. Close proximity to all that Summerlin has to offer!

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MARKET HIGHLIGHTS

  • Las Vegas metro's economy was worth $124.9 billion in Gross Metro Product in 2018 and projected to grow to $133.2 billion in 2019 (USMayors.org, 2018)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)
  • Las Vegas metro has 61.2% labor force participation rate (USMayors.org, 2018)
  • Las Vegas metro's employment growth was at 2.6% in 2018 and predicted to grow at the rate of 1.7% in 2019 (USMayors.org, 2018)
  • A $7.5 billion mixed-use 6-year project known as Bleutech Park Las Vegas is starting in December 2019. The project will incorporate environmental and technological features such as water purification, on-site waste treatment and localized air cleaning. Described as an “insular mini-city,” the plan calls for use of autonomous vehicles, AI, augmented reality, robotics and other advanced technologies. (reBusinessOnline - France Media, 2019)
  • Las Vegas metro's major employers include: MGM Resorts International, Caesars Entertainment Corporation, Stations Casinos, LLC., Wynn Resorts, Boyd Gaming Corporation, Las Vegas Sands Corporation, Walmart Stores, Cosmopolitan of Las Vegas, The Valley Health System and Supervalu (Las Vegas Sun, 2019)

PRICE & RENT TRENDS

Neighborhood: Red Rock Country Club at Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000kPrice in $119k1065k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Red Rock Country Club at Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21500200025003000350040004500Rent in $10764918

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Judy And John Goolsby Elementary School Primary Regular 807 42 10
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Palo Verde High School High Regular 3,024 114 9

Judy And John Goolsby Elementary School

  • Education Level: Primary
  • # of students: 807
  • # of teachers: 42
10
GreatSchools Rating

Victoria Fertitta Middle School

  • Education Level: Middle
  • # of students: 1,472
  • # of teachers: 60
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$1,642,500$2,007,500$1,825,000

PURCHASE PRICE

$5,481$6,699$6,090

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M

PROJECTED ANNUAL CASH FLOW

11530-$40k-$30k-$20k-$10k$0.0$10k$20k$30k$40k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $6,090
EXPENSES Loan Payment -$6,733
Property Tax -$1,199
Property Insurance -$119
HOA -$245
Property Management Fees -$119
CASH FLOW
-$2,325

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$1,825,000

PROJECTED PRICE

$6,090

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.75%
Appreciation Year (1-5) 4.27%
Maintenance Year (1-5) 8.00%
Vacancy 7.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$489,375

INVESTMENT

$489,375

Down Payment
$456,250
Rehab Estimate
$5,750
Closing Costs
$27,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$6,733

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $456,250
Loan Amount $1,368,750
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$4,406

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $6,090

    LIST RENT
  • $1.29

    LIST RENT PER SQFT
  • $4,146

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$3,695
1$3,6952$4,0003$4,0004$4,1005$6,090
$6,090
RENT COMPS ANALYSIS
  • 2713 Red Arrow Drive Las Vegas, NV 5
    • 5 beds 6 baths ∙ 4,725 Sqft ∙ Built 2001 5 beds 6 baths ∙ 4,725 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $6,090
    • $1.29
    •  
  • 10741 Capesthorne Way Las Vegas, NV 1
    • 5 beds 5 baths ∙ 4,575 Sqft ∙ Built 2003 5 beds 5 baths ∙ 4,575 Sqft ∙ Built 2003
    property image
    LEASED 07/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,695
    • $0.81
    •  
  • 716 Chervil Valley Drive Las Vegas, NV 2
    • 5 beds 5 baths ∙ 4,444 Sqft ∙ Built 2006 5 beds 5 baths ∙ 4,444 Sqft ∙ Built 2006
    property image
    LEASED 01/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $0.90
    •  
  • 11642 Morning Grove Drive Las Vegas, NV 3
    • 4 beds 5 baths ∙ 4,578 Sqft ∙ Built 2005 4 beds 5 baths ∙ 4,578 Sqft ∙ Built 2005
    property image
    LEASED 04/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $0.87
    •  
  • 11735 Glowing Sunset Lane Las Vegas, NV 4
    • 4 beds 5 baths ∙ 4,391 Sqft ∙ Built 2003 4 beds 5 baths ∙ 4,391 Sqft ∙ Built 2003
    property image
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $0.93
    •  
PROPERTY LISTING DETAILS
Ivan G Sher
1.702.315.0223
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2208846
Last Updated: 08/19/2020
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