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3067 Palace Gate Court Las Vegas, NV 89117

4 Beds 3 Baths 2,960 sqft Built 2000

$479,000

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $161.82
  • 5 Days on Market
  • MLS # : 2251969
  • Updated Date : 12/03/2020 at 12:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,960 sqft
  • Baths : 2 full , 1 half
Listing Agent

Resolution Realty

Listing Agent's Description

Ready to move in two story home with an open floor plan. This home is ideally located between the 215 freeway, 95 freeway, and the Las Vegas strip allowing for an easy access to any side of town. This home has 4 bedrooms with a master bed and bath downstairs, 3 car garage, and a large upstairs loft/den.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$431,100$526,900$479,000

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,767
Property Tax -$300
Property Insurance -$85
Property Management Fees -$119
CASH FLOW
-$211

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.

$479,000

PROJECTED PRICE

$2,060

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$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,685

INVESTMENT

$132,685

Down Payment
$119,750
Rehab Estimate
$5,750
Closing Costs
$7,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,767

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $119,750
Loan Amount $359,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$18,815

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $2,079

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,840
1$1,8402$2,0003$2,0604$2,2505$2,250
$2,250
RENT COMPS ANALYSIS
  • 3067 Palace Gate Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,960 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,960 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.70
    •  
  • 8247 Azure Shores Court Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,917 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,917 Sqft ∙ Built 2000
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.63
    •  
  • 8466 Cobble Village Court Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,917 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,917 Sqft ∙ Built 2002
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.69
    •  
  • 7275 Lavender Rose Las Vegas, NV 4
    • 4 beds 4 baths ∙ 3,122 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,122 Sqft ∙ Built 2014
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.72
    •  
  • 3049 Jacaranda Drive #0 Las Vegas, NV 5
    • 5 beds 2 baths ∙ 2,917 Sqft ∙ Built 2001 5 beds 2 baths ∙ 2,917 Sqft ∙ Built 2001
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.77
    •  
PROPERTY LISTING DETAILS
Gurkaranjit Gill
1.702.287.4293
Resolution Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2251969
Last Updated: 12/03/2020
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