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2839 Queens Courtyard Drive Las Vegas, NV 89109

4 Beds 5 Baths 4,027 sqft Built 1984

$974,900

List Price

$4,520

$4.3K - $4.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $242.09
  • 20 Days on Market
  • MLS # : 2258598
  • Updated Date : 01/17/2021 at 03:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,027 sqft
  • Baths : 5 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Location, Location, Location. One of the Best Lots in Las Vegas Country Club Estates, Stunning View Overlooking Five Fairways, & Lake. Southern Exposure for that Resort Style Pool & Spa. Marble & Hardwood Flooring, Updated Lighting, Surround Sound Speakers Thru-out, Gorgeous Bar, Large Main Floor Family Room, Gourmet Kitchen with Dual Sub Zeros, Dble Oven. Primary Bedroom with Amazing Strip and Golf Views from the Balcony, Retreat/Study, and a Luxurious on-Suite Bath & Customized Walk-in Closet. Attached Apartment or Next Gen Suite with Efficiency Kitchen Entrance from House or Garage. All Bedrooms with On-Suite Baths. All Newer Windows and Sliding Doors, Newer ACs & Water Heater, Electric Blinds Throughout Most of the Home. Bonus Full Bath Downstairs. Iconic Las Vegas Country Club with Many Membership Opportunities, Fitness, Tennis, Recently Bought & Revitalized Same Stunning Mid Century Modern Vibe. What a Gem! Guard Gated Community Soo Close to the World Famous Las Vegas Strip.

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MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Winchester

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $80k296k

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

Neighborhood: Winchester

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
John S. Park Elementary School Primary Regular 852 46 3
John C. Fremont Middle School Middle Regular 873 41 NA
Valley High School High Magnet 2,826 123 2

John S. Park Elementary School

  • Education Level: Primary
  • # of students: 852
  • # of teachers: 46
3
GreatSchools Rating

John C. Fremont Middle School

  • Education Level: Middle
  • # of students: 873
  • # of teachers: 41
NA
GreatSchools Rating

Valley High School

  • Education Level: High
  • # of students: 2,826
  • # of teachers: 123
2
GreatSchools Rating
 

$877,410$1,072,390$974,900

PURCHASE PRICE

$4,068$4,972$4,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,520
EXPENSES Loan Payment -$3,386
Property Tax -$388
Property Insurance -$105
Property Management Fees -$119
CASH FLOW
$522

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$974,900

PROJECTED PRICE

$4,520

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 10.1%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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$2.5M$3.0M$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$10k$20k$30k$40k$50k$60k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$264,099

INVESTMENT

$264,099

Down Payment
$243,725
Rehab Estimate
$5,750
Closing Costs
$14,624

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$3,386

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $243,725
Loan Amount $731,175
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$110,574

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,520

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $5,517

    COMP ESTIMATED VALUE
  • $1.37

    COMP AVG. RENT PER SQFT
Comps Range
$2,750
1$2,7502$4,5203$8,000
$8,000
RENT COMPS ANALYSIS
  • 2839 Queens Courtyard Drive Las Vegas, NV 2
    • 4 beds 5 baths ∙ 4,027 Sqft ∙ Built 1984 4 beds 5 baths ∙ 4,027 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $4,520
    • $1.12
    •  
  • 1108 Vegas Valley Drive #- Las Vegas, NV 1
    • 4 beds 4 baths ∙ 3,713 Sqft ∙ Built 1970 4 beds 4 baths ∙ 3,713 Sqft ∙ Built 1970
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.74
    •  
  • 2857 Paradise Road #2503 Las Vegas, NV 3
    • 3 beds 4 baths ∙ 4,007 Sqft ∙ Built 2002 3 beds 4 baths ∙ 4,007 Sqft ∙ Built 2002
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $8,000
    • $2.00
    •  
PROPERTY LISTING DETAILS
Carol U Barber Terkhorn
1.702.527.2144
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2258598
Last Updated: 01/17/2021
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