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

3126 Sunrise Cove Avenue North Las Vegas, NV 89031

3 Beds 3 Baths 1,406 sqft Built 2001

$234,990

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $167.13
  • 15 Days on Market
  • MLS # : 2253868
  • Updated Date : 12/18/2020 at 11:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,406 sqft
  • Baths : 2 full , 1 half
Listing Agent

All Access Realty & Property M

Listing Agent's Description

Lovely two story home in a gated community in North Las Vegas. Home features 3 bedrooms upstairs, 2 bathrooms and 1/2 bath downstairs. Two car garage and gated courtyard. Newly replaced water heater, refrigerator and dishwasher. Your family will enjoy community swimming pool and beautiful landscaping throughout the community.

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: Nob Hill

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $79k296k

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

Neighborhood: Nob Hill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8591603

* 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
Eva G. Simmons Elementary School Primary Regular 742 37 6
Brian And Teri Cram Middle School Middle Regular 1,568 65 NA
Legacy High School High Regular 2,819 119 3

Eva G. Simmons Elementary School

  • Education Level: Primary
  • # of students: 742
  • # of teachers: 37
6
GreatSchools Rating

Brian And Teri Cram Middle School

  • Education Level: Middle
  • # of students: 1,568
  • # of teachers: 65
NA
GreatSchools Rating

Legacy High School

  • Education Level: High
  • # of students: 2,819
  • # of teachers: 119
3
GreatSchools Rating
 

$211,491$258,489$234,990

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$867
Property Tax -$171
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
$89

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$234,990

PROJECTED PRICE

$1,300

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.1%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,022

INVESTMENT

$68,022

Down Payment
$58,748
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,748
Loan Amount $176,243
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$25,017

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,290

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2753$1,3004$1,3005$1,300
$1,300
RENT COMPS ANALYSIS
  • 3126 Sunrise Cove Avenue North Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,406 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,406 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.92
    •  
  • 3026 Sunrise Bay Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,385 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,385 Sqft ∙ Built 2001
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.90
    •  
  • 3206 Inlet Bay Avenue North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,406 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,406 Sqft ∙ Built 2001
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.91
    •  
  • 5720 Carmel Sand Street North Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,406 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,406 Sqft ∙ Built 2001
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.92
    •  
  • 3236 Ocean Spray North Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,385 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,385 Sqft ∙ Built 2001
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.94
    •  
PROPERTY LISTING DETAILS
Arlene Olimberio
1.702.339.8142
All Access Realty & Property M
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2253868
Last Updated: 12/18/2020
BESbswy