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3289 Saddle Soap Court Las Vegas, NV 89135

3 Beds 2 Baths 2,291 sqft Built 2004

$829,900

List Price

$3,210

$3K - $3.5K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $362.24
  • 4 Days on Market
  • MLS # : 2247630
  • Updated Date : 11/14/2020 at 12:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,291 sqft
  • Baths : 2 full
Listing Agent

Richco Realty, Llc

Listing Agent's Description

A beautiful single-story home 3 Bed + Den situated in the amazing 24/7 Guard Gated Red Rock Country Club. This home is highly- upgraded, Crème Marfel Marble flooring t/o & bedrooms w/hardwood flooring. Spacious Great Room w. lg. Low E- picture windows, crown molding t/o, Formal Dining room, Gourmet kitchen, w/custom cabinets, Granit Counter Top-Breakfast Bar, Lovely Stone Backsplash, Laundry room, Low E windows, Custom Shutters, Ceiling fans, Beautiful Marble bathrooms. Lg. Master Bedroom suite w/ his & her custom closets. Separate living quarter for other bedrooms w complete bathroom and furnished office w/all the conveniences. Backyard has covered Patio, Resort style swimming pool w/Jacuzzi w/Solar Heat. Lovely mature Italian cypress trees, desert landscape. Near 215, Red Rock Hotel/casino, & Downtown Summerlin shopping. Original owner-Pride of ownership. Furniture, art, fixtures are negotiable. MUST SEE!

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: Red Rock Country Club at Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900k1000kPrice in $119k1065k

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

Neighborhood: Red Rock Country Club at Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21500200025003000350040004500Rent in $10764918

* 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
Judy And John Goolsby Elementary School Primary Regular 807 42 10
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Palo Verde High School High Regular 3,024 114 9

Judy And John Goolsby Elementary School

  • Education Level: Primary
  • # of students: 807
  • # of teachers: 42
10
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
 

$746,910$912,890$829,900

PURCHASE PRICE

$2,889$3,531$3,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,210
EXPENSES Loan Payment -$3,062
Property Tax -$474
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
-$517

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.

$829,900

PROJECTED PRICE

$3,210

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.75%
Appreciation Year (1-5) 4.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.56%
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$0.0$10k$20k$30k

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$225,674

INVESTMENT

$225,674

Down Payment
$207,475
Rehab Estimate
$5,750
Closing Costs
$12,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,062

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $207,475
Loan Amount $622,425
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$29,363

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,210

    LIST RENT
  • $1.4

    LIST RENT PER SQFT
  • $2,205

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2953$2,3004$2,4005$3,210
$3,210
RENT COMPS ANALYSIS
  • 3289 Saddle Soap Court Las Vegas, NV 5
    • 3 beds 2 baths ∙ 2,291 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,291 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $3,210
    • $1.40
    •  
  • 11067 Caramel Crest Court Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,184 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,184 Sqft ∙ Built 2003
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.01
    •  
  • 3402 Midnight Moon Street Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,476 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,476 Sqft ∙ Built 2003
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.93
    •  
  • 2814 Gallant Hills Drive #0 Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,455 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,455 Sqft ∙ Built 2001
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.94
    •  
  • 11308 Rising Ridge Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,476 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,476 Sqft ∙ Built 2003
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.97
    •  
PROPERTY LISTING DETAILS
A Richard Cohen
1.702.612.4150
Richco Realty, Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2247630
Last Updated: 11/14/2020
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