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2931 Rain Lily Court Las Vegas, NV 89117

4 Beds 3 Baths 2,562 sqft Built 2000

$419,900

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $163.90
  • 16 Days on Market
  • MLS # : 2244053
  • Updated Date : 11/13/2020 at 15:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,562 sqft
  • Baths : 2 full , 1 half
Listing Agent

The Tom Love Group Llc

Listing Agent's Description

Gorgeous 2 story home with sparkling pool nestled in the heart of Las Vegas. Open floor plan with two tone paint, upgraded floors, and a chefs kitchen sure to delight. Granite counters, plenty of custom cabinets and large island. Four spacious bedrooms with large closets. Relax in your outdoor oasis under the huge covered patio with mature care desert landscape and quite cu-de sac.

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: Monaco

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k389k

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

Neighborhood: Monaco

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110011501200125013001350140014501500155016001650Rent in $10761682

* 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
Herbert A. Derfelt Elementary School Primary Regular 699 34 6
Lawrence Junior High School Middle Regular 1,421 61 NA
Spring Valley High School High Regular 1,925 79 4

Herbert A. Derfelt Elementary School

  • Education Level: Primary
  • # of students: 699
  • # of teachers: 34
6
GreatSchools Rating

Lawrence Junior High School

  • Education Level: Middle
  • # of students: 1,421
  • # of teachers: 61
NA
GreatSchools Rating

Spring Valley High School

  • Education Level: High
  • # of students: 1,925
  • # of teachers: 79
4
GreatSchools Rating
 

$377,910$461,890$419,900

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,549
Property Tax -$260
Property Insurance -$77
Property Management Fees -$119
CASH FLOW
-$206

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.

$419,900

PROJECTED PRICE

$1,800

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,024

INVESTMENT

$117,024

Down Payment
$104,975
Rehab Estimate
$5,750
Closing Costs
$6,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,549

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $104,975
Loan Amount $314,925
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$15,186

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,793

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7503$1,7654$1,8005$1,950
$1,950
RENT COMPS ANALYSIS
  • 2931 Rain Lily Court Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,562 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,562 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.70
    •  
  • 8233 Ruby Heights Avenue #na Las Vegas, NV 1
    • 5 beds 2 baths ∙ 2,606 Sqft ∙ Built 2000 5 beds 2 baths ∙ 2,606 Sqft ∙ Built 2000
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.67
    •  
  • 3355 Ceremony Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 1997
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.70
    •  
  • 8240 Crown Peak Avenue Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,697 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,697 Sqft ∙ Built 2001
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,765
    • $0.65
    •  
  • 3083 Regal Cove Street Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,516 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,516 Sqft ∙ Built 2000
    property image
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.78
    •  
PROPERTY LISTING DETAILS
Thomas J Love
1.702.838.5100
The Tom Love Group Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244053
Last Updated: 11/13/2020
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