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2845 Evening Rock Street Las Vegas, NV 89135

3 Beds 4 Baths 3,147 sqft Built 2001

$1,500,000

List Price

$3,330

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $476.64
  • 3 Days on Market
  • MLS # : 2273195
  • Updated Date : 02/26/2021 at 23:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,147 sqft
  • Baths : 3 full , 1 half
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Luxury Modern Lifestyle in the exclusive Guard Gated Red Rock Country Club. Remodeled & Stunning Single Story home with spectacular Golf & Mountain Views. Courtyard entry opens to a large living room w/vaulted ceiling, floor to ceiling stone fireplace, wet bar, picture windows enhance the amazing views of the private Golf Course & Mountains. En-suite casita just off courtyard w/ private entrance. Updated Chefs kitchen includes luxury appliances, custom cabinets, island w/attached breakfast bar & walk-in pantry. Master Suite includes fireplace, large bath, double entry door shower, separate vanities & 2 walk-in closets. Currently 3 bedrooms, 4.5 bath w/ den that could easily become a 4th bedroom, all en-suite. Located on a large, 10,000 sf pool size lot, sit back and enjoy the maintenance free back yard on the green of the second hole and take in the sweeping views of the lit mountains at night. *Seller will include a full golf membership with the purchase of the home. *

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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
 

$1,350,000$1,650,000$1,500,000

PURCHASE PRICE

$2,997$3,663$3,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,330
EXPENSES Loan Payment -$5,210
Property Tax -$733
Property Insurance -$88
Property Management Fees -$119
CASH FLOW
-$2,820

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.

$1,500,000

PROJECTED PRICE

$3,330

PROJECTED RENT

0.22%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.75%
Appreciation Year (1-5) 4.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.56%
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-$40k-$30k-$20k-$10k$0.0

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$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$403,250

INVESTMENT

$403,250

Down Payment
$375,000
Rehab Estimate
$5,750
Closing Costs
$22,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$5,210

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $375,000
Loan Amount $1,125,000
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$94

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,330

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $2,706

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,4953$2,9004$2,9505$3,330
$3,330
RENT COMPS ANALYSIS
  • 2845 Evening Rock Street Las Vegas, NV 5
    • 3 beds 4 baths ∙ 3,147 Sqft ∙ Built 2001 3 beds 4 baths ∙ 3,147 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $3,330
    • $1.06
    •  
  • 2351 Malaga Peak Street #- Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,901 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,901 Sqft ∙ Built 2007
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.79
    •  
  • 2882 Windset Court Las Vegas, NV 2
    • 4 beds 4 baths ∙ 3,027 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,027 Sqft ∙ Built 2000
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.82
    •  
  • 3294 Mission Creek Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 3,455 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,455 Sqft ∙ Built 2002
    LEASED 10/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.84
    •  
  • 3059 Lenoir Las Vegas, NV 4
    • 4 beds 4 baths ∙ 2,978 Sqft ∙ Built 2001 4 beds 4 baths ∙ 2,978 Sqft ∙ Built 2001
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.99
    •  
PROPERTY LISTING DETAILS
Lori L Koentopp
1.702.595.9722
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2273195
Last Updated: 02/26/2021
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