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289 Rolling Springs Drive Las Vegas, NV 89148

4 Beds 3 Baths 2,513 sqft Built 2002

INVESTimate

$448,000

List Price

$1,820

$1,638 - $2,002

Rent Est.

$487,379  ( +8.79%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2002
  • Price/Sqft : $178.27
  • 42 Days on Market
  • MLS # : 2213891
  • Updated Date : 08/21/2020 at 09:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,513 sqft
  • Baths : 2 full , 1 half
Listing Agent

Signature Real Estate Group

Listing Agent's Description

PARADISE AMONGST THE PALM TREES Hidden away on the fringe of the city is this charming four bedroom residence plus den family room and living room with fireplace,Chefs dream Custom kitchen with wet bar ,beautiful granite counter tops , brand new carpet , 2 iinch faux blinds thru out ,stack stone accents located on kitchen island and columns ,located on low traffic cul de sac, This immaculately presented home is set amongst a lush, leafy oasis. manicured grounds within a private and secure guard gated of PRESTIGIOUS RHODES RANCH community. As a resident you will have access to lifestyle amenities, Some of the amazing community amenities include public access to the par-72 golf course, a 35,000 square foot recreation center, and a very cool water park. The recreation center offers indoor basketball and racquetball courts, four tennis courts, exercise rooms and common areas and pools. Within the community there are miles of pretty walking trails for strolling or jogging.

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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: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k339k

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

Neighborhood: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10551829

* 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
Don And Dee Snyder Elementary School Primary Unknown NA
Wilbur And Theresa Faiss Middle School Middle Regular 1,409 61 NA
Sierra Vista High School High Regular 2,396 88 4

Don And Dee Snyder Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Wilbur And Theresa Faiss Middle School

  • Education Level: Middle
  • # of students: 1,409
  • # of teachers: 61
NA
GreatSchools Rating

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

$403,200$492,800$448,000

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,653
Property Tax -$278
Property Insurance -$76
HOA -$130
Property Management Fees -$119
CASH FLOW
-$436

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.

$448,000

PROJECTED PRICE

$1,820

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.79%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,470

INVESTMENT

$124,470

Down Payment
$112,000
Rehab Estimate
$5,750
Closing Costs
$6,720

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,653

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,000
Loan Amount $336,000
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$3,451

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,922

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8203$1,8954$2,0005$2,095
$2,095
RENT COMPS ANALYSIS
  • 289 Rolling Springs Drive Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,513 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,513 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.72
    •  
  • 8181 Hafner Las Vegas, NV 1
    • 4 beds 1 baths ∙ 2,328 Sqft ∙ Built 2019 4 beds 1 baths ∙ 2,328 Sqft ∙ Built 2019
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.75
    •  
  • 434 Hidden Hole Drive #none Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,667 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,667 Sqft ∙ Built 2005
    LEASED 06/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.71
    •  
  • 315 Bridgeton Cross Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,477 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,477 Sqft ∙ Built 2012
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.81
    •  
  • 371 Botanic Gardens Drive Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,651 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,651 Sqft ∙ Built 2012
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.79
    •  
PROPERTY LISTING DETAILS
Sebastian C Leith
1.702.683.4973
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2213891
Last Updated: 08/21/2020
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