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4037 Laurel Flat Court Las Vegas, NV 89129

5 Beds 3 Baths 3,332 sqft Built 2001

$520,000

List Price

$2,410

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $156.06
  • 13 Days on Market
  • MLS # : 2244638
  • Updated Date : 11/13/2020 at 02:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,332 sqft
  • Baths : 2 full , 1 half
Listing Agent

Resolution Realty

Listing Agent's Description

Sprawling 5-bedroom NW home nestled at the foot of Lone Mtn boasts oversized rooms w/ walk-in closets + ceiling fans, airy loft & multiple living spaces, pristine pool + spa system w/ 27' covered patio, custom paved + custom frost-gated RV/boat parking or dog run, storage galore inside & out, newly installed laminate wood floor + light fixtures + water heater, freshly painted interior & exterior, mature desert plants & trees w/ efficient drip system, synthetic turf, camera + alarm system + coded safe-room, flagstone fireplace, granite countertops, 3-car garage, w/ tool shed in cozy gated community just seconds away from parks + trails in all directions. Primary bedroom + bathroom downstairs! All appliances conveyed. Serious inquiries only; priced to sell!

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: Lone Mountain Heights

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $119k472k

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

Neighborhood: Lone Mountain Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10762204

* 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
Eileen Conners Elementary School Primary Regular 797 43 8
Justice M E Leavitt Middle School Middle Regular 1,496 64 NA
Centennial High School High Regular 3,055 124 6

Eileen Conners Elementary School

  • Education Level: Primary
  • # of students: 797
  • # of teachers: 43
8
GreatSchools Rating

Justice M E Leavitt Middle School

  • Education Level: Middle
  • # of students: 1,496
  • # of teachers: 64
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$468,000$572,000$520,000

PURCHASE PRICE

$2,169$2,651$2,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,410
EXPENSES Loan Payment -$1,919
Property Tax -$391
Property Insurance -$92
Property Management Fees -$119
CASH FLOW
-$110

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.

$520,000

PROJECTED PRICE

$2,410

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.0%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$143,550

INVESTMENT

$143,550

Down Payment
$130,000
Rehab Estimate
$5,750
Closing Costs
$7,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,919

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $130,000
Loan Amount $390,000
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$30,448

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,410

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $2,432

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,4003$2,4104$2,4255$2,580
$2,580
RENT COMPS ANALYSIS
  • 4037 Laurel Flat Court Las Vegas, NV 3
    • 5 beds 3 baths ∙ 3,332 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,332 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,410
    • $0.72
    •  
  • 3917 Diamond Ridge Street Las Vegas, NV 1
    • 5 beds 3 baths ∙ 3,215 Sqft ∙ Built 1998 5 beds 3 baths ∙ 3,215 Sqft ∙ Built 1998
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.72
    •  
  • 10413 Holloway Heights Avenue Las Vegas, NV 2
    • 5 beds 3 baths ∙ 3,168 Sqft ∙ Built 2003 5 beds 3 baths ∙ 3,168 Sqft ∙ Built 2003
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.76
    •  
  • 10705 Cliff Mountain Avenue Las Vegas, NV 4
    • 5 beds 3 baths ∙ 3,405 Sqft ∙ Built 2003 5 beds 3 baths ∙ 3,405 Sqft ∙ Built 2003
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,425
    • $0.71
    •  
  • 10120 Coluter Pine Avenue Las Vegas, NV 5
    • 5 beds 4 baths ∙ 3,531 Sqft ∙ Built 2001 5 beds 4 baths ∙ 3,531 Sqft ∙ Built 2001
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,580
    • $0.73
    •  
PROPERTY LISTING DETAILS
Rayce Rayos
1.702.563.7873
Resolution Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244638
Last Updated: 11/13/2020
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