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3487 Royal Fortune Drive Las Vegas, NV 89141

5 Beds 6 Baths 4,716 sqft Built 2019

$899,999

List Price

$3,470

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $190.84
  • 11 Days on Market
  • MLS # : 2254923
  • Updated Date : 12/18/2020 at 15:31
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,716 sqft
  • Baths : 5 full , 1 half
Listing Agent

Keller Williams Southern Nevada

Listing Agent's Description

Expertly crafted for those who prefer the finer things in life, this remarkable residence is spacious, luxurious and simply stunning. Even before stepping inside, it’s immediately clear this is a truly special home from the commanding curb appeal that exudes charm and grandeur. Inside, the towering two-story entry foyer connects to both the formal living and dining room with luxury vinyl tile flooring throughout. Daily life is sure to revolve around the open-plan and light-filled kitchen, family room and breakfast nook with plenty of space to entertain guests or gather with loved ones. The kitchen is well-equipped with stainless steel appliances, ample cabinetry and an expansive center island while extra living space is on offer with a loft, a den and a covered patio. There are five good-size bedrooms and 5.5 baths including the opulent master suite with a large walk-in closet and a luxe master bath with a freestanding tub, a tiled shower and dual vanities.

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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: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
Evelyn Stuckey Elementary School Primary Regular 949 46 8
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Evelyn Stuckey Elementary School

  • Education Level: Primary
  • # of students: 949
  • # of teachers: 46
8
GreatSchools Rating

Lois And Jerry Tarkanian Middle School

  • Education Level: Middle
  • # of students: 1,739
  • # of teachers: 71
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$809,999$989,999$899,999

PURCHASE PRICE

$3,123$3,817$3,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,470
EXPENSES Loan Payment -$3,321
Property Tax -$651
Property Insurance -$118
Property Management Fees -$119
CASH FLOW
-$739

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 11% of earned rent to cover both maintenance and periods of vacancy.

$899,999

PROJECTED PRICE

$3,470

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.8%
Maintenance Year (1-5) 3.00%
Vacancy 7.57%
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$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$240,500

INVESTMENT

$240,500

Down Payment
$225,000
Rehab Estimate
$2,000
Closing Costs
$13,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,321

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $225,000
Loan Amount $674,999
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$12,856

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,470

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $4,763

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$3,470
1$3,4702$4,5003$4,6004$5,500
$5,500
RENT COMPS ANALYSIS
  • 3487 Royal Fortune Drive Las Vegas, NV 1
    • 5 beds 6 baths ∙ 4,716 Sqft ∙ Built 2019 5 beds 6 baths ∙ 4,716 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $3,470
    • $0.74
    •  
  • 3443 Royal Fortune Drive Las Vegas, NV 2
    • 6 beds 7 baths ∙ 4,960 Sqft ∙ Built 2019 6 beds 7 baths ∙ 4,960 Sqft ∙ Built 2019
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $0.91
    •  
  • 3487 Royal Fortune Las Vegas, NV 3
    • 5 beds 6 baths ∙ 4,716 Sqft ∙ Built 2019 5 beds 6 baths ∙ 4,716 Sqft ∙ Built 2019
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,600
    • $0.98
    •  
  • 3707 Royal Fortune Drive Las Vegas, NV 4
    • 6 beds 7 baths ∙ 4,843 Sqft ∙ Built 2016 6 beds 7 baths ∙ 4,843 Sqft ∙ Built 2016
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,500
    • $1.14
    •  
PROPERTY LISTING DETAILS
David Rozier
1.407.775.9390
Keller Williams Southern Nevada
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2254923
Last Updated: 12/18/2020
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