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3083 Regal Cove Street Las Vegas, NV 89117

3 Beds 3 Baths 2,516 sqft Built 2000

$455,000

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $180.84
  • 3 Days on Market
  • MLS # : 2269963
  • Updated Date : 02/13/2021 at 02:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,516 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Southwe

Listing Agent's Description

Immaculately maintained 3 bed/2.5 bath single story home available on a large corner lot in desirable Monaco. Excellent southwest Las Vegas community, conveniently located near freeways, parks, shopping, and restaurants. Room to spread out with over 2500 sq ft of living space, separate living and family rooms, and a spacious den with lots of possibilities. Soaring ceilings, neutral paint tones, and soft natural lighting throughout. Perfect for entertaining, the stylish open concept kitchen boasts granite countertops and an island w/ breakfast bar seating. 3 car garage. Master retreat includes a walk-in closet, a full ensuite, and a private exit to the secluded backyard. Here you will find a sprawling, partially covered patio, double gate to side yard with potential RV parking, low maintenance desert landscaping, and plenty of room to gather friends and family. This gem is a must-see. Don't miss it.

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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: 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
 

$409,500$500,500$455,000

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,580
Property Tax -$290
Property Insurance -$76
Property Management Fees -$119
CASH FLOW
-$85

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.

$455,000

PROJECTED PRICE

$1,980

PROJECTED RENT

0.44%

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$126,325

INVESTMENT

$126,325

Down Payment
$113,750
Rehab Estimate
$5,750
Closing Costs
$6,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,580

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $113,750
Loan Amount $341,250
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$22,106

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,151

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,860
1$1,8602$1,9803$2,2504$2,3005$2,395
$2,395
RENT COMPS ANALYSIS
  • 3083 Regal Cove Street Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,516 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,516 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $0.79
    •  
  • 3096 Maple Valley Street Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 2000
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.79
    •  
  • 8123 Alpine Fir Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,516 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,516 Sqft ∙ Built 2000
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.89
    •  
  • 7960 Lapis Harbor Avenue Las Vegas, NV 4
    • 3 beds 2 baths ∙ 2,715 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,715 Sqft ∙ Built 2000
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.85
    •  
  • 7993 Alpine Fir Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,689 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,689 Sqft ∙ Built 2000
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.89
    •  
PROPERTY LISTING DETAILS
Jonathan Chao
1.702.327.5810
Keller Williams Realty Southwe
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2269963
Last Updated: 02/13/2021
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