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2824 High Range Drive Las Vegas, NV 89134

3 Beds 3 Baths 2,577 sqft Built 1994

$699,000

List Price

$2,520

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

December 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $271.25
  • 5 Days on Market
  • MLS # : 2254177
  • Updated Date : 12/10/2020 at 09:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,577 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

WOW! Talk about Location! This is the one you’ve been waiting for! The home is 2577 sq. ft and sits on an Elevated Premium lot overlooking the Highland Falls Golf Course and Lake! In addition, the home also features a beautiful pebble tech pool, spa and waterfall to boot! The popular Wendover model offers 3 bedrooms, 2 ½ baths, it is light, bright, and open, large kitchen w/ island, lots of cabinet space, a desk area, and eat-in nook, dramatic black marble fireplace and built-ins make for a cozy gathering place in the family room right off the kitchen. Large Master bedroom with convenient doors that lead to the fabulous yard and pool. Guest room with its own bath. Coffered Ceilings, Shutters, ceiling fans throughout, skylight and much more…Must see!

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
 

$629,100$768,900$699,000

PURCHASE PRICE

$2,268$2,772$2,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,520
EXPENSES Loan Payment -$2,579
Property Tax -$421
Property Insurance -$77
Property Management Fees -$119
CASH FLOW
-$676

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.

$699,000

PROJECTED PRICE

$2,520

PROJECTED RENT

0.36%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$190,985

INVESTMENT

$190,985

Down Payment
$174,750
Rehab Estimate
$5,750
Closing Costs
$10,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,579

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $174,750
Loan Amount $524,250
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$6,166

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,520

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,165

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9003$2,2004$2,3005$2,520
$2,520
RENT COMPS ANALYSIS
  • 2824 High Range Drive Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,577 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,577 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,520
    • $0.98
    •  
  • 2208 Starline Meadow Place Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,405 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,405 Sqft ∙ Built 1996
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.79
    •  
  • 10136 Cypress Glen Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,515 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,515 Sqft ∙ Built 1996
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.76
    •  
  • 3020 Hawksdale Drive #0 Las Vegas, NV 3
    • 3 beds 2 baths ∙ 2,486 Sqft ∙ Built 1992 3 beds 2 baths ∙ 2,486 Sqft ∙ Built 1992
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.88
    •  
  • 9228 Sundial Drive Las Vegas, NV 4
    • 3 beds 2 baths ∙ 2,486 Sqft ∙ Built 1990 3 beds 2 baths ∙ 2,486 Sqft ∙ Built 1990
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.93
    •  
PROPERTY LISTING DETAILS
Anna M Roth
1.702.277.2680
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2254177
Last Updated: 12/10/2020
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