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3007 Soft Horizon Way Las Vegas, NV 89135

4 Beds 5 Baths 3,823 sqft Built 2002

$1,425,000

List Price

$5,020

$4.8K - $5.3K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2002
  • Price/Sqft : $372.74
  • 11 Days on Market
  • MLS # : 2242300
  • Updated Date : 10/28/2020 at 08:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,823 sqft
  • Baths : 4 full , 1 half
Listing Agent

Synergy Sothebys Int'l Realty

Listing Agent's Description

One of the most pristine single story homes available within guard gated Red Rock Country Club. Recently renovated with new flooring, both interior/exterior custom paint, refinished cabinetry, Bosch stainless designer appliances, new plumbing fixtures and more. This sprawling one level home features abundant natural light, high ceilings, 2 fireplaces, custom closets and expansive glass windows capturing the magnificent views of the 13th hole and mountains. A private courtyard, a large side yard, rear yard, and covered patio allow for many different outdoor entertaining options and environments. Manicured landscaping, stone exterior, custom entry door, and designer paint palate give this home tremendous curb appeal. The Red Rock lifestyle is second to none, offering world class golf, tennis, fitness, swimming and dining options. Located just 10 minutes from Red Rock National Park, 5 minutes from Downtown Summerlin and approximately 15 minutes from McCarran International Airport.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$1,282,500$1,567,500$1,425,000

PURCHASE PRICE

$4,518$5,522$5,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,020
EXPENSES Loan Payment -$5,258
Property Tax -$777
Property Insurance -$101
Property Management Fees -$119
CASH FLOW
-$1,235

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.

$1,425,000

PROJECTED PRICE

$5,020

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.75%
Appreciation Year (1-5) 4.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.56%
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$2.5M$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$10k$0.0$10k$20k$30k$40k$50k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$383,375

INVESTMENT

$383,375

Down Payment
$356,250
Rehab Estimate
$5,750
Closing Costs
$21,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,258

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $356,250
Loan Amount $1,068,750
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$25,652

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $5,020

    LIST RENT
  • $1.31

    LIST RENT PER SQFT
  • $3,775

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$3,250
1$3,2502$3,4953$3,8004$3,9005$5,020
$5,020
RENT COMPS ANALYSIS
  • 3007 Soft Horizon Way Las Vegas, NV 5
    • 4 beds 5 baths ∙ 3,823 Sqft ∙ Built 2002 4 beds 5 baths ∙ 3,823 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $5,020
    • $1.31
    •  
  • 10729 Grey Havens Court Las Vegas, NV 1
    • 5 beds 5 baths ∙ 3,535 Sqft ∙ Built 2003 5 beds 5 baths ∙ 3,535 Sqft ∙ Built 2003
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $0.92
    •  
  • 3066 Lenoir Street Las Vegas, NV 2
    • 5 beds 3 baths ∙ 3,723 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,723 Sqft ∙ Built 2001
    property image
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $0.94
    •  
  • 2620 Grassy Spring Place Las Vegas, NV 3
    • 4 beds 4 baths ∙ 3,601 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,601 Sqft ∙ Built 2000
    property image
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.06
    •  
  • 10755 Hobbiton Avenue Las Vegas, NV 4
    • 5 beds 5 baths ∙ 3,792 Sqft ∙ Built 2001 5 beds 5 baths ∙ 3,792 Sqft ∙ Built 2001
    property image
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $1.03
    •  
PROPERTY LISTING DETAILS
Robin M Compagno
1.702.241.8243
Synergy Sothebys Int'l Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2242300
Last Updated: 10/28/2020
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