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2816 Castle Bar Drive Las Vegas, NV 89134

2 Beds 2 Baths 1,703 sqft Built 1994

$524,900

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $308.22
  • 7 Days on Market
  • MLS # : 2248531
  • Updated Date : 11/20/2020 at 11:09
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,703 sqft
  • Baths : 2 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

LOCATION – LOT ORIENTATION – THIS HOME HAS IT ALL, LOCATED JUST OFF THE TEE BOXES ON THE FIRST HOLE OF THE PALMS GOLF COURSE, FACING WEST, SO THE SCENIC GOLF COURSE VIEW FROM THE INTERIOR / PATIO IS SHIELDED FROM THE LONG AFTERNOON SUMMER SUN. Highly Desirable/ Reconfigured/ Fully Renovated/ Stately Minden Model**Turn Key Condition/See Virtual Tour**2BDRMS/2Baths/2CarGar.**New Multi-Tone Interior Paint**24x48 Tile Throughout Main Body of Home**Sculpted Carpet in Bedrooms**Beautiful Galley Kitchen W/All New Cabinets**New Quartz Counter Tops Throughout Home**New Appliances**All New Plumbing Fixtures/Electrical Fixtures/Door Hardware**Fully Renovated Master Bath / Hall Bath**Nothing Untouched**

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Sun City Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k328k

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

Neighborhood: Sun City Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100115012001250130013501400145015001550160016501700Rent in $10671706

* 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
William Lummis Elementary School Primary Regular 555 27 7
Ernest Becker Middle School Middle Regular 1,392 56 NA
Palo Verde High School High Regular 3,024 114 9

William Lummis Elementary School

  • Education Level: Primary
  • # of students: 555
  • # of teachers: 27
7
GreatSchools Rating

Ernest Becker Middle School

  • Education Level: Middle
  • # of students: 1,392
  • # of teachers: 56
NA
GreatSchools Rating

Palo Verde High School

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

$472,410$577,390$524,900

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,937
Property Tax -$286
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
-$692

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.

$524,900

PROJECTED PRICE

$1,710

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,849

INVESTMENT

$144,849

Down Payment
$131,225
Rehab Estimate
$5,750
Closing Costs
$7,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,937

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $131,225
Loan Amount $393,675
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$718

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,694

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6503$1,6504$1,6505$1,710
$1,710
RENT COMPS ANALYSIS
  • 2816 Castle Bar Drive Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,703 Sqft ∙ Built 1994 2 beds 2 baths ∙ 1,703 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $1.00
    •  
  • 9424 January Drive Las Vegas, NV 1
    • 2 beds 2 baths ∙ 1,599 Sqft ∙ Built 1995 2 beds 2 baths ∙ 1,599 Sqft ∙ Built 1995
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.94
    •  
  • 2825 Greenview Court Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,653 Sqft ∙ Built 1988 2 beds 2 baths ∙ 1,653 Sqft ∙ Built 1988
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
  • 9236 January Drive Las Vegas, NV 3
    • 2 beds 1 baths ∙ 1,585 Sqft ∙ Built 1993 2 beds 1 baths ∙ 1,585 Sqft ∙ Built 1993
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.04
    •  
  • 9104 Sundial Drive #0 Las Vegas, NV 4
    • 2 beds 1 baths ∙ 1,653 Sqft ∙ Built 1990 2 beds 1 baths ∙ 1,653 Sqft ∙ Built 1990
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
PROPERTY LISTING DETAILS
Mark E Rowley
1.702.379.1353
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2248531
Last Updated: 11/20/2020
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