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4861 La Cumbre Drive Las Vegas, NV 89147

4 Beds 3 Baths 2,054 sqft Built 1996

$365,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $177.70
  • 2 Days on Market
  • MLS # : 2250089
  • Updated Date : 11/21/2020 at 21:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,054 sqft
  • Baths : 2 full , 1 half
Listing Agent

The Leaders Group

Listing Agent's Description

Great open 2 story ready to move in. Home was model for community and comes with downstairs office where a third car garage could have been. Granet Counters, New Microwave and Dishwasher. 4 bedrooms and 2 bath upstairs and office and 1/2 bath downstairs. Completely done backyard with full house long patio cover and solar shades and full security screens. Ready for before xmas move in.

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: Rancho Viejo

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Rancho Viejo

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21050110011501200125013001350140014501500155016001650Rent in $10361658

* 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
Frank Kim Elementary School Primary Regular 575 34 6
Grant Sawyer Middle School Middle Regular 1,308 52 NA
Durango High School High Regular 2,302 95 5

Frank Kim Elementary School

  • Education Level: Primary
  • # of students: 575
  • # of teachers: 34
6
GreatSchools Rating

Grant Sawyer Middle School

  • Education Level: Middle
  • # of students: 1,308
  • # of teachers: 52
NA
GreatSchools Rating

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$328,500$401,500$365,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,347
Property Tax -$228
Property Insurance -$67
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 16% of earned rent to cover both maintenance and periods of vacancy.

$365,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.4%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

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$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,347

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$32,023

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,802

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,599
1$1,5992$1,6003$1,7004$1,7905$1,795
$1,795
RENT COMPS ANALYSIS
  • 4861 La Cumbre Drive Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,054 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,054 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.87
    •  
  • 8016 Bonaventure Drive Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,884 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,884 Sqft ∙ Built 1995
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.85
    •  
  • 7904 Bonaventure Drive Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,884 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,884 Sqft ∙ Built 1996
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.85
    •  
  • 4619 Bear Island Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,911 Sqft ∙ Built 2012 4 beds 3 baths ∙ 1,911 Sqft ∙ Built 2012
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.89
    •  
  • 7831 Windward Road Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,946 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,946 Sqft ∙ Built 1998
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.92
    •  
PROPERTY LISTING DETAILS
Curtis W Scheppmann
1.702.551.2300
The Leaders Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2250089
Last Updated: 11/21/2020
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