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3071 Wandering River Court Las Vegas, NV 89135

3 Beds 2 Baths 4,134 sqft Built 2003

$1,600,000

List Price

$5,850

$5.6K - $6.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $387.03
  • 5 Days on Market
  • MLS # : 2274276
  • Updated Date : 03/05/2021 at 17:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 4,134 sqft
  • Baths : 2 full
Listing Agent

Urban Nest Realty

Listing Agent's Description

Located in Guard Gated Willow Creek in Summerlin w/ a second gate into Willow Falls. Beautiful custom Santa Barbara-style home with unparalleled architectural design and craftsmanship throughout. Private courtyard entrance w/ pavers and a stoned archway lead to the large great room w/ vaulted ceilings, exposed wood beams, a wall of glass sliding doors with wood & stone floors. The beams follow through into the large family rm w/12 ft ceilings, custom built-ins, and arched windows. Chef's gourmet kitchen features stainless Viking appliances, custom cabinets, granite counters, and a walk-in pantry. 8 ft solid wood doors T/O, den/office, primary suite w/ fireplace, spa-like bath, two separate walk-in closets, marble floors, and counters. Secondary bedrooms w/ walk-in closets. Full-length patio, beautifully updated pebble tech pool, built-in BBQ, lush landscaping, oversized 3 car garage. Community tennis and basketball courts, walking trails, and close to Downtown Summerlin shopping center

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: The Willows

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k395k

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

Neighborhood: The Willows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10762007

* 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
D'voree And Hall Ober Elementary School Primary Regular 669 39 8
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Palo Verde High School High Regular 3,024 114 9

D'voree And Hall Ober Elementary School

  • Education Level: Primary
  • # of students: 669
  • # of teachers: 39
8
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
 

$1,440,000$1,760,000$1,600,000

PURCHASE PRICE

$5,265$6,435$5,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,850
EXPENSES Loan Payment -$5,557
Property Tax -$1,016
Property Insurance -$107
Property Management Fees -$119
CASH FLOW
-$950

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.

$1,600,000

PROJECTED PRICE

$5,850

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.8%
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$1.0M$2.0M$3.0M$4.0M$5.0M

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$1.0M$2.0M$3.0M$4.0M$5.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$429,750

INVESTMENT

$429,750

Down Payment
$400,000
Rehab Estimate
$5,750
Closing Costs
$24,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$5,557

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $400,000
Loan Amount $1,200,000
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$33,026

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $5,850

    LIST RENT
  • $1.42

    LIST RENT PER SQFT
  • $4,465

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$4,200
1$4,2002$4,5003$4,7004$5,850
$5,850
RENT COMPS ANALYSIS
  • 3071 Wandering River Court Las Vegas, NV 4
    • 3 beds 2 baths ∙ 4,134 Sqft ∙ Built 2003 3 beds 2 baths ∙ 4,134 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $5,850
    • $1.42
    •  
  • 2198 Country Cove Court Las Vegas, NV 1
    • 4 beds 4 baths ∙ 4,124 Sqft ∙ Built 2005 4 beds 4 baths ∙ 4,124 Sqft ∙ Built 2005
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.02
    •  
  • 72 Grey Feather Las Vegas, NV 2
    • 4 beds 3 baths ∙ 4,172 Sqft ∙ Built 2016 4 beds 3 baths ∙ 4,172 Sqft ∙ Built 2016
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.08
    •  
  • 2032 Country Cove Court Las Vegas, NV 3
    • 4 beds 4 baths ∙ 4,107 Sqft ∙ Built 2005 4 beds 4 baths ∙ 4,107 Sqft ∙ Built 2005
    LEASED 10/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,700
    • $1.14
    •  
PROPERTY LISTING DETAILS
Doug W Thompson
1.702.378.8231
Urban Nest Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2274276
Last Updated: 03/05/2021
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