Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3037 Highland Falls Drive Las Vegas, NV 89134

3 Beds 2 Baths 2,210 sqft Built 1995

$579,900

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $262.40
  • 3 Days on Market
  • MLS # : 2261996
  • Updated Date : 01/16/2021 at 16:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,210 sqft
  • Baths : 2 full
Listing Agent

Rooftop Realty

Listing Agent's Description

You do not want to miss this gorgeous and newly remodeled single story in lovely Sun City Summerlin! Wow! This property shows like a model! The kitchen features White Shaker Cabinets, New Granite counter-tops and Stainless Steel Appliances. Luxury Vinyl Plank flooring throughout all of the high traffic areas with 6 inch baseboards. New Stacked Stone fireplace, Rolladen shutters and picture windows that allow for a beautiful view of the golf course just off the back yard! The home sits on the 10th hole. The Primary Suite is now a luxury accommodation with No-Step Walk-In Shower with Pebble Floor. Hurry before this one is gone!

SEE MORE

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: Sun City Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k328k

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

Neighborhood: Sun City Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100115012001250130013501400145015001550160016501700Rent in $10671706

* 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
William Lummis Elementary School Primary Regular 555 27 7
Ernest Becker Middle School Middle Regular 1,392 56 NA
Palo Verde High School High Regular 3,024 114 9

William Lummis Elementary School

  • Education Level: Primary
  • # of students: 555
  • # of teachers: 27
7
GreatSchools Rating

Ernest Becker Middle School

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

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$521,910$637,890$579,900

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$2,014
Property Tax -$328
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
-$402

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.

$579,900

PROJECTED PRICE

$2,130

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.1%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k

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$159,424

INVESTMENT

$159,424

Down Payment
$144,975
Rehab Estimate
$5,750
Closing Costs
$8,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,014

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $144,975
Loan Amount $434,925
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$9,348

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,995

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7953$1,9954$2,0755$2,130
$2,130
RENT COMPS ANALYSIS
  • 3037 Highland Falls Drive Las Vegas, NV 5
    • 3 beds 2 baths ∙ 2,210 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,210 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $0.96
    •  
  • 10321 George Hart Court Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,023 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,023 Sqft ∙ Built 2001
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.84
    •  
  • 3733 Russell Peterson Court Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,023 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,023 Sqft ∙ Built 2002
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.89
    •  
  • 2832 Faiss Drive #0 Las Vegas, NV 3
    • 3 beds 2 baths ∙ 2,210 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,210 Sqft ∙ Built 1995
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.90
    •  
  • 2804 Youngdale Drive Las Vegas, NV 4
    • 3 beds 2 baths ∙ 2,115 Sqft ∙ Built 1992 3 beds 2 baths ∙ 2,115 Sqft ∙ Built 1992
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.98
    •  
PROPERTY LISTING DETAILS
Eric J Humes
1.702.233.4663
Rooftop Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261996
Last Updated: 01/16/2021
BESbswy