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4630 Rockpine Drive North Las Vegas, NV 89081

3 Beds 2 Baths 1,557 sqft Built 1998

$285,000

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $183.04
  • 3 Days on Market
  • MLS # : 2257718
  • Updated Date : 12/26/2020 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,557 sqft
  • Baths : 2 full
Listing Agent

Signature Real Estate Group

Listing Agent's Description

Beautiful 3 bed, 2 bath single story home with upgraded bathrooms, kitchen and flooring along with sitting across the street from tranquil good sized community park. This home has the rare "big 3" being 1 story, 3 car garage with NO HOA present. Fairly close proximity to shopping, amenities and freeway access with the I 15 being just down Craig within minutes drive. Open single story floorplan with plenty of windows/lighting along with an open backyard that wraps from one side of the home to the other. Stressing again there is NO HOA present with this home also containing a good sized 3 car garage. Upgraded kitchen with granite countertops to start and a master bathroom with separate "his and her" sinks are a must see with wood flooring throughout the home also already in place. Master bedroom on opposite side of home from other 2 rooms allowing extensive privacy for whoever may get the big room. Opinion wise it would be possible to add a pool or side RV parking/entry as well.

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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

Neighborhood: Cobblestone Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Cobblestone Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9481603

* 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
Raul Elizondo Elementary School Primary Regular 774 42 5
Clifford O. Findlay Middle School Middle Regular 1,372 59 NA
Mojave High School High Regular 2,311 103 2

Raul Elizondo Elementary School

  • Education Level: Primary
  • # of students: 774
  • # of teachers: 42
5
GreatSchools Rating

Clifford O. Findlay Middle School

  • Education Level: Middle
  • # of students: 1,372
  • # of teachers: 59
NA
GreatSchools Rating

Mojave High School

  • Education Level: High
  • # of students: 2,311
  • # of teachers: 103
2
GreatSchools Rating
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$1,052
Property Tax -$212
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
$30

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$285,000

PROJECTED PRICE

$1,470

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.6%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$22,507

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,331

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,095
1$1,0952$1,3503$1,4004$1,4505$1,470
$1,470
RENT COMPS ANALYSIS
  • 4630 Rockpine Drive North Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.94
    •  
  • 4518 Testarossa Lane North Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 1993
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.81
    •  
  • 4928 Sapphire Light Street #- North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,542 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,542 Sqft ∙ Built 2001
    property image
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.88
    •  
  • 4641 Gravel Rock Street North Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,555 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,555 Sqft ∙ Built 1997
    property image
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.90
    •  
  • 4935 Stormy Ridge Street Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,750 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,750 Sqft ∙ Built 2001
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.83
    •  
PROPERTY LISTING DETAILS
Justin W Massimino
1.702.494.7060
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2257718
Last Updated: 12/26/2020
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