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355 Chaplin Cove Avenue Las Vegas, NV 89183

4 Beds 2 Baths 3,003 sqft Built 2007

$950,000

List Price

$2,470

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $316.35
  • 7 Days on Market
  • MLS # : 2278410
  • Updated Date : 03/19/2021 at 07:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,003 sqft
  • Baths : 2 full
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

This luxurious 3,003 square foot single family residential home is truly a must see and located in Liberty Ranch. With 4 large bedrooms/3 bathrooms and Plantation shutters throughout. The kitchen, the hub of the home, will not disappoint with an open concept and adjoining family room offering a sizable but cozy space for family and friends to gather, featuring recessed lighting, a built-in oven, cook top stove, and microwave, custom cabinets, granite counter tops, pantry, ceramic tiled floors and an extended peninsula bar. The master bedroom is a massive 20x24 including a master en-suite with double sinks, a walk-in shower, and a jetted tub to relax in after a long day. This home sits on a 1/4-1 acre lot of desert landscaped fenced in private grounds, fulfilling an entertainer's dream: featuring a solar-heated pool, built-in barbecue pit, private patio, rock and turf to set up your corn-hole games and RV parking. This gorgeous dream home may be exactly the gem you are looking for!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
John C. Bass Elementary School Primary Regular 885 46 6
Charles Silvestri Junior High School Middle Regular 1,748 68 NA
Liberty High School High Regular 2,496 105 5

John C. Bass Elementary School

  • Education Level: Primary
  • # of students: 885
  • # of teachers: 46
6
GreatSchools Rating

Charles Silvestri Junior High School

  • Education Level: Middle
  • # of students: 1,748
  • # of teachers: 68
NA
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,496
  • # of teachers: 105
5
GreatSchools Rating
 

$855,000$1,045,000$950,000

PURCHASE PRICE

$2,223$2,717$2,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,470
EXPENSES Loan Payment -$3,300
Property Tax -$509
Property Insurance -$85
Property Management Fees -$119
CASH FLOW
-$1,543

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.

$950,000

PROJECTED PRICE

$2,470

PROJECTED RENT

0.26%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
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$500k$1.0M$1.5M$2.0M$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

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

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$257,500

INVESTMENT

$257,500

Down Payment
$237,500
Rehab Estimate
$5,750
Closing Costs
$14,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$3,300

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $237,500
Loan Amount $712,500
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$87

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,470

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,252

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2953$2,2954$2,4705$2,550
$2,550
RENT COMPS ANALYSIS
  • 355 Chaplin Cove Avenue Las Vegas, NV 4
    • 4 beds 2 baths ∙ 3,003 Sqft ∙ Built 2007 4 beds 2 baths ∙ 3,003 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,470
    • $0.82
    •  
  • 10828 Rising Smoke Court #n/a Las Vegas, NV 1
    • 4 beds 3 baths ∙ 3,090 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,090 Sqft ∙ Built 2003
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.68
    •  
  • 662 Hidden Cellar Court Las Vegas, NV 2
    • 5 beds 2 baths ∙ 3,136 Sqft ∙ Built 2004 5 beds 2 baths ∙ 3,136 Sqft ∙ Built 2004
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.73
    •  
  • 10641 Salmon Leap Street Las Vegas, NV 3
    • 4 beds 4 baths ∙ 2,985 Sqft ∙ Built 2012 4 beds 4 baths ∙ 2,985 Sqft ∙ Built 2012
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.77
    •  
  • 593 Pale Pueblo Court Las Vegas, NV 5
    • 4 beds 3 baths ∙ 3,108 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,108 Sqft ∙ Built 2002
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.82
    •  
PROPERTY LISTING DETAILS
Bryan Mccall
1.702.485.8302
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2278410
Last Updated: 03/19/2021
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