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4305 Cloverhill Court Las Vegas, NV 89147

4 Beds 3 Baths 1,462 sqft Built 1975

$375,000

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1975
  • Price/Sqft : $256.50
  • 9 Days on Market
  • MLS # : 2244126
  • Updated Date : 11/06/2020 at 15:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,462 sqft
  • Baths : 3 full
Listing Agent

Blue Diamond Realty Llc

Listing Agent's Description

ABSOLUTELY GORGEOUS, MUST SEE!** COMPLETELY REDONE HOME** BEAUTIFUL SPRING VALLEY 1 STORY, 4 BEDROOM (2 MASTER BEDROOM AND 2 MASTER BATHROOMS) ** ONE MASTER HAS ACCESS TO THE POOL AREA** TILE FLOORING** FULLY RENOVATED POOL WITH BRAND NEW EQUIPMENT WITH CAGE** FULLY RENOVATED KITCHEN** COVERED GAZEBO/PATIO WITH SLIDING DOOR** RV PARKING** NEW ELECTRICAL PANEL** INSULATED GARAGE** SOLAR PANELS AND GENERATOR IS PAID OFF AND IS INCLUDED WITH THE HOME**

SEE MORE

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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
Pat A. Diskin Elementary School Primary Regular 686 34 6
Lawrence Junior High School Middle Regular 1,421 61 NA
Spring Valley High School High Regular 1,925 79 4

Pat A. Diskin Elementary School

  • Education Level: Primary
  • # of students: 686
  • # of teachers: 34
6
GreatSchools Rating

Lawrence Junior High School

  • Education Level: Middle
  • # of students: 1,421
  • # of teachers: 61
NA
GreatSchools Rating

Spring Valley High School

  • Education Level: High
  • # of students: 1,925
  • # of teachers: 79
4
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$1,384
Property Tax -$146
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
-$294

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.

$375,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.9%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$7,380

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,352

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,380
1$1,3802$1,4103$1,4504$1,4505$1,634
$1,634
RENT COMPS ANALYSIS
  • 4305 Cloverhill Court Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,462 Sqft ∙ Built 1975 4 beds 3 baths ∙ 1,462 Sqft ∙ Built 1975
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.96
    •  
  • 4216 Honeycomb Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,509 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,509 Sqft ∙ Built 1983
    property image
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.91
    •  
  • 4294 Cloverhill Court Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 1975
    property image
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.87
    •  
  • 7121 Pleasant View Avenue Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,563 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,563 Sqft ∙ Built 1973
    property image
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.93
    •  
  • 4529 Meridian Drive Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 1975
    property image
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,634
    • $0.99
    •  
PROPERTY LISTING DETAILS
Dillan Tang
1.702.366.3186
Blue Diamond Realty Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244126
Last Updated: 11/06/2020
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