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2849 Queens Courtyard Drive Las Vegas, NV 89109

2 Beds 3 Baths 2,444 sqft Built 1987

$519,900

List Price

$2,860

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $212.73
  • 11 Days on Market
  • MLS # : 2266539
  • Updated Date : 02/14/2021 at 03:09
CONSTRUCTION
  • Beds : 2
  • Floor Size : 2,444 sqft
  • Baths : 3 full
Listing Agent

Kingsgate Real Estate Ltd

Listing Agent's Description

With 19' ceilings and an abundance of natural light, this two-story property combines Spanish-style undertones with a recently renovated modern living area. Located on a peaceful street in the center of the historic Las Vegas Country Club and just minutes from the Strip, you'll have easy access to all the world-renowned shopping and dining this city has to offer. The backyard patio and in-ground spa are well protected by the mature pines of the 11th fairway, creating a private retreat for relaxing and entertaining. This home features two upstairs primary bedrooms with en-suite baths, three cedar-lined walk-in closets, a loft/nook reading area, and an oversized, spacious great room. The bright and open downstairs living area is complemented by the third full bath and functional office space, which could easily transition into a third bedroom. One of the most desirable areas in Las Vegas that uniquely combines a course view with city lights and a mountain-landscaped backdrop!

SEE MORE

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
 

$467,910$571,890$519,900

PURCHASE PRICE

$2,574$3,146$2,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,860
EXPENSES Loan Payment -$1,806
Property Tax -$293
Property Insurance -$75
Property Management Fees -$119
CASH FLOW
$568

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.

$519,900

PROJECTED PRICE

$2,860

PROJECTED RENT

0.55%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k$35k$40k

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$143,524

INVESTMENT

$143,524

Down Payment
$129,975
Rehab Estimate
$5,750
Closing Costs
$7,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,806

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $129,975
Loan Amount $389,925
See What Happens When You Reinvest Cash Flow

11.08

YEARS SAVED

$87,958

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,860

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $3,501

    COMP ESTIMATED VALUE
  • $1.43

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,8603$3,1004$3,2505$3,950
$3,950
RENT COMPS ANALYSIS
  • 2849 Queens Courtyard Drive Las Vegas, NV 2
    • 2 beds 3 baths ∙ 2,444 Sqft ∙ Built 1987 2 beds 3 baths ∙ 2,444 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $2,860
    • $1.17
    •  
  • 2877 Paradise Road #1703 Las Vegas, NV 1
    • 2 beds 3 baths ∙ 2,195 Sqft ∙ Built 2001 2 beds 3 baths ∙ 2,195 Sqft ∙ Built 2001
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.28
    •  
  • 2777 Paradise Road #1703 Las Vegas, NV 3
    • 2 beds 3 baths ∙ 2,195 Sqft ∙ Built 2005 2 beds 3 baths ∙ 2,195 Sqft ∙ Built 2005
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.41
    •  
  • 2747 Paradise Road #1703 Las Vegas, NV 4
    • 2 beds 3 baths ∙ 2,195 Sqft ∙ Built 2003 2 beds 3 baths ∙ 2,195 Sqft ∙ Built 2003
    LEASED 11/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.48
    •  
  • 360 East Desert Inn Road #1201 Las Vegas, NV 5
    • 2 beds 3 baths ∙ 2,534 Sqft ∙ Built 2005 2 beds 3 baths ∙ 2,534 Sqft ∙ Built 2005
    LEASED 02/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $1.56
    •  
PROPERTY LISTING DETAILS
Aaron Jacques
1.702.862.0378
Kingsgate Real Estate Ltd
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2266539
Last Updated: 02/14/2021
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