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2904 Dove Run Creek Drive Las Vegas, NV 89135

4 Beds 5 Baths 3,455 sqft Built 2002

INVESTimate

$985,000

List Price

$4,020

$3,770 - $4,270

Rent Est.

$1,027,060  ( +4.27%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2002
  • Price/Sqft : $285.09
  • 65 Days on Market
  • MLS # : 2206913
  • Updated Date : 08/22/2020 at 16:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,455 sqft
  • Baths : 4 full , 1 half
Listing Agent

Nevada Real Estate Corp

Listing Agent's Description

WELL KEPT, RARELY USED VACATION HOME IN A PRESTIGIOUS CC, WITH NUMEROUS FACILITIES AVAILABLE TO OWNERS; OVERLOOKING GOLF COURSE FROM LIVING,FAMILY AND MASTER BEDROOM;BRIGHT HIGH CEILING FAMILY NOT FACING AFTERNOON SUN; FIREPLACES IN LIVING, FAMILY AND MASTER BEDROOM; CUSTOM DESIGNED AND MADE DRAPES AND CURTAINS STAY; ALL APPLIANCES STAY; LARGE BALCONY AT MASTER BEDROOM; EVERY BEDROOM HAS OWN BATH; ONE BEDROOM DOWNSTAIRS WITH FULL BATH;BREAKFAST NOOK BESIDE KITCHEN;NEWLY INSTALLED A/C UPSTAIRS; EASY ACCESS TO GREAT SHOPPING, EATING AND CASINOS NEARBY; SHORT DISTANCE TO RED ROCK STATE PARK; FURNISHNGS ARRANGED BY INTERIOR DESIGNER AND ARE AVAILABLE FOR SALE SEPARATELY, AS A TOTAL PACKAGE OR IN GROUPS OR SEPARATELY, PRICES NOT INCLUDED IN THE HOUSE PRICE.

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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: 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
 

$886,500$1,083,500$985,000

PURCHASE PRICE

$3,618$4,422$4,020

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$10k$0.0$10k$20k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,020
EXPENSES Loan Payment -$3,634
Property Tax -$617
Property Insurance -$94
HOA -$245
Property Management Fees -$119
CASH FLOW
-$690

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.

$985,000

PROJECTED PRICE

$4,020

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.75%
Appreciation Year (1-5) 4.27%
Maintenance Year (1-5) 8.00%
Vacancy 7.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$266,775

INVESTMENT

$266,775

Down Payment
$246,250
Rehab Estimate
$5,750
Closing Costs
$14,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,634

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $246,250
Loan Amount $738,750
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$26,043

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,020

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $3,395

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$3,199
1$3,1992$3,2503$3,4004$3,8005$4,020
$4,020
RENT COMPS ANALYSIS
  • 2904 Dove Run Creek Drive Las Vegas, NV 5
    • 4 beds 5 baths ∙ 3,455 Sqft ∙ Built 2002 4 beds 5 baths ∙ 3,455 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $4,020
    • $1.16
    •  
  • 2826 Barrow Downs Street Las Vegas, NV 1
    • 4 beds 5 baths ∙ 3,458 Sqft ∙ Built 2001 4 beds 5 baths ∙ 3,458 Sqft ∙ Built 2001
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,199
    • $0.93
    •  
  • 10729 Grey Havens Court Las Vegas, NV 2
    • 5 beds 5 baths ∙ 3,535 Sqft ∙ Built 2003 5 beds 5 baths ∙ 3,535 Sqft ∙ Built 2003
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $0.92
    •  
  • 2912 Soft Horizon Way Las Vegas, NV 3
    • 4 beds 4 baths ∙ 3,325 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,325 Sqft ∙ Built 2001
    LEASED 05/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.02
    •  
  • 2620 Grassy Spring Place Las Vegas, NV 4
    • 4 beds 4 baths ∙ 3,601 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,601 Sqft ∙ Built 2000
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.06
    •  
PROPERTY LISTING DETAILS
Paul P Shui
1.702.335.9999
Nevada Real Estate Corp
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2206913
Last Updated: 08/22/2020
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