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371 Cats Eye Drive Boulder City, NV 89005

4 Beds 2 Baths 4,231 sqft Built 2005

$955,000

List Price

$3,320

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2005
  • Price/Sqft : $225.71
  • 13 Days on Market
  • MLS # : 2242644
  • Updated Date : 11/05/2020 at 16:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,231 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Market Place

Listing Agent's Description

*2 STORY HOME IN THE HEART OF BOULDER CITY W GORGEOUS LAKE & MNTN VIEWS*LIVING QRTRS W KTCHN*PROPERTY SITS ON LRG LOT W AMPLE PARKING, SPACIOUS GARAGE(CABINETS, EXTERIOR DOOR,COOLED,RV GARAGE,STORAGE&TANDEM PARKING)W RV GATE*BOAT STORAGE*2ND FLR DECK*BALCONY OVERLKING DRIVEWAY*PROPERTY HAS OPEN FLR PLAN W TONS OF NATURAL LIGHTING*GOURMET KITCHEN W BREAKFAST BAR, CUSTOM CABINETS, GARDEN WINDOW, GRANITE, RECESSED LIGHTING, MARBLE/STONE FLOORING, PANTRY & STAINLESS STEEL APPLIANCES*REVERSE OSMOSIS*SPACIOUS BEDRMS, MASTER UPSTAIRS & BEDRM DOWNSTAIRS IS A PLUS*MASTER BATH W DOUBLE SINKS, MAKEUP TABLE, SEPARATE TUB/ SHOWER, TUB W JETS & STEAM SHOWER*LARGE FAMILY & DINING ROOMS*SURROUND SOUND*OPEN BACKYARD W COVERED PATIO & LARGE SPARKLING POOL/SPA COMBO W WATERFALL*FIRE PITS IN BCKYRD*PUTTING GREEN*PROPERTY IS LOCATED NEAR ENTERTAINMENT, LAKE ACCESS, HISTORIC SIGHTS & BEAUTIFUL NATURE*3 HVAC SYSTEMS*SOFT WATER*STORAGE SHED*PAVER DRIVEWAY &SIDEWALK*HOUSE IS PLUMBED FOR AN AIR COMPRESSOR*

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 89005

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k362k

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

Zip Code: 89005

ZipNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10241875

* 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
Martha P. King Elementary School Primary Regular 427 23 8
Elton M. Garrett Junior High School Middle Regular 470 22 NA
Boulder City High School High Regular 618 31 8

Martha P. King Elementary School

  • Education Level: Primary
  • # of students: 427
  • # of teachers: 23
8
GreatSchools Rating

Elton M. Garrett Junior High School

  • Education Level: Middle
  • # of students: 470
  • # of teachers: 22
NA
GreatSchools Rating

Boulder City High School

  • Education Level: High
  • # of students: 618
  • # of teachers: 31
8
GreatSchools Rating
 

$859,500$1,050,500$955,000

PURCHASE PRICE

$2,988$3,652$3,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,320
EXPENSES Loan Payment -$3,524
Property Tax -$653
Property Insurance -$109
Property Management Fees -$119
CASH FLOW
-$1,085

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.

$955,000

PROJECTED PRICE

$3,320

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 8.00%
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-$20k-$10k$0.0$10k$20k

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$258,825

INVESTMENT

$258,825

Down Payment
$238,750
Rehab Estimate
$5,750
Closing Costs
$14,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,524

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $238,750
Loan Amount $716,250
See What Happens When You Reinvest Cash Flow

0.75

YEARS SAVED

$3,511

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,320

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,623

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$3,320
$3,320
RENT COMPS ANALYSIS
  • 371 Cats Eye Drive Boulder City, NV 2
    • 4 beds 2 baths ∙ 4,231 Sqft ∙ Built 2005 4 beds 2 baths ∙ 4,231 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $3,320
    • $0.78
    •  
  • 1410 Highland Drive Boulder City, NV 1
    • 4 beds 3 baths ∙ 4,005 Sqft ∙ Built 1990 4 beds 3 baths ∙ 4,005 Sqft ∙ Built 1990
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.62
    •  
PROPERTY LISTING DETAILS
Richard J Brenkus
1.702.456.5959
Keller Williams Market Place
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2242644
Last Updated: 11/05/2020
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