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2913 Sterling Cove Drive Las Vegas, NV 89128

5 Beds 1 Baths 3,049 sqft Built 1993

$709,900

List Price

$2,440

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $232.83
  • 3 Days on Market
  • MLS # : 2248054
  • Updated Date : 11/14/2020 at 09:23
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,049 sqft
  • Baths : 1 full
Listing Agent

Principle Realty Advisors

Listing Agent's Description

Incredible REMODEL from top to bottom! Stunning modern styling...This is one of the most beautiful homes in Desert Shores Move in & don't lift a finger! ALL BRAND NEW kitchen appliances, sleek Euro style cabinets, marble counters & island...ALL THREE BATHROOMS fully remodeled, including a beautiful, antique vanity base in the Primary Bath/Spa...Amazing & rare new White Pebble Tech pool finish, new Jacuzzi pool/spa motor, fantastic English Style Garden & outdoor fireplace...new water heater, new washer/dryer, user friendly security cameras, 5 true bedrooms, beautiful genuine hardwood floors, new interior and exterior paint...and the list goes on! See the supplemental list of features & upgrades...tour this beautiful home for yourself! Within the quiet, gated Spinnaker Cove & Desert Shores communites where you can enjoy award winning restaurants, spectacular lakes, beautiful walking paths, the lagoon style beach pool & more recreation areas.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Desert Shores

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Desert Shores

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10761945

* 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
Dorothy Eisenberg Elementary School Primary Regular 609 33 6
Ernest Becker Middle School Middle Regular 1,392 56 NA
Cimarron Memorial High School High Regular 2,541 102 3

Dorothy Eisenberg Elementary School

  • Education Level: Primary
  • # of students: 609
  • # of teachers: 33
6
GreatSchools Rating

Ernest Becker Middle School

  • Education Level: Middle
  • # of students: 1,392
  • # of teachers: 56
NA
GreatSchools Rating

Cimarron Memorial High School

  • Education Level: High
  • # of students: 2,541
  • # of teachers: 102
3
GreatSchools Rating
 

$638,910$780,890$709,900

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$2,619
Property Tax -$415
Property Insurance -$86
Property Management Fees -$119
CASH FLOW
-$800

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.

$709,900

PROJECTED PRICE

$2,440

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.5%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
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-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$193,874

INVESTMENT

$193,874

Down Payment
$177,475
Rehab Estimate
$5,750
Closing Costs
$10,649

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,619

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $177,475
Loan Amount $532,425
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$3,249

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,440

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,607

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,4003$2,4404$2,7005$3,100
$3,100
RENT COMPS ANALYSIS
  • 2913 Sterling Cove Drive Las Vegas, NV 3
    • 5 beds 1 baths ∙ 3,049 Sqft ∙ Built 1993 5 beds 1 baths ∙ 3,049 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $0.80
    •  
  • 8224 Ocean Terrace Way Las Vegas, NV 1
    • 4 beds 2 baths ∙ 3,099 Sqft ∙ Built 1990 4 beds 2 baths ∙ 3,099 Sqft ∙ Built 1990
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.76
    •  
  • 8224 Tivoli Cove Drive #0 Las Vegas, NV 2
    • 4 beds 2 baths ∙ 3,099 Sqft ∙ Built 1990 4 beds 2 baths ∙ 3,099 Sqft ∙ Built 1990
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.77
    •  
  • 7636 Genesis Court #0 Las Vegas, NV 4
    • 4 beds 2 baths ∙ 3,157 Sqft ∙ Built 1990 4 beds 2 baths ∙ 3,157 Sqft ∙ Built 1990
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.86
    •  
  • 8133 Horizon Lake Drive Las Vegas, NV 5
    • 4 beds 3 baths ∙ 3,014 Sqft ∙ Built 1989 4 beds 3 baths ∙ 3,014 Sqft ∙ Built 1989
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.03
    •  
PROPERTY LISTING DETAILS
Kathryn Hunt
1.702.340.7916
Principle Realty Advisors
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2248054
Last Updated: 11/14/2020
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