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PROPERTY INFO
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.
SEE MORE
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Enterprise
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$240,500
LOAN DETAILS
$3,321
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $225,000 |
| Loan Amount | $674,999 |
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
-
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
1.407.775.9390
Keller Williams Southern Nevada
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2254923
Last Updated: 12/18/2020
