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5029 Mountain Foliage Drive Las Vegas, NV 89148

4 Beds 5 Baths 4,664 sqft Built 1998

$1,595,000

List Price

$4,100

$3.9K - $4.4K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $341.98
  • 2 Days on Market
  • MLS # : 2246610
  • Updated Date : 11/07/2020 at 13:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,664 sqft
  • Baths : 4 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Exquisite Richard Luke Design custom home in the guard gated community of Spanish Hills. This impressive modern open floor plan is great for entertaining! Massive windows throughout offering natural lighting! 12' ceilings, gourmet kitchen with marble countertops and floors, stainless steel appliances, 7 burner gas cooktop stove, oversize fridge and freezer, 3 fireplaces. Custom shades throughout. Primary bedroom is separated from the secondary bedrooms. Primary bath has double sinks, custom bath and shower,  huge custom closet and a sitting room with a walkout to back patio. All the bedrooms with ensuite bathrooms. Office with built in cabinets and french doors. Dramatic archways throughout the home. Atrium opens to an outdoor living area and resort style backyard with a private pool and spa. Convenient to 215 , strip, airport,  Downtown Summerlin.

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: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k339k

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

Neighborhood: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10551829

* 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
Lucille Rogers Elementary School Primary Regular 775 43 9
Grant Sawyer Middle School Middle Regular 1,308 52 NA
Durango High School High Regular 2,302 95 5

Lucille Rogers Elementary School

  • Education Level: Primary
  • # of students: 775
  • # of teachers: 43
9
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
 

$1,435,500$1,754,500$1,595,000

PURCHASE PRICE

$3,690$4,510$4,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,100
EXPENSES Loan Payment -$5,885
Property Tax -$904
Property Insurance -$117
Property Management Fees -$119
CASH FLOW
-$2,926

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.

$1,595,000

PROJECTED PRICE

$4,100

PROJECTED RENT

0.26%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.8%
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$1.0M$2.0M$3.0M$4.0M$5.0M

PROJECTED ANNUAL CASH FLOW

11530-$50k-$40k-$30k-$20k-$10k$0.0$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$428,425

INVESTMENT

$428,425

Down Payment
$398,750
Rehab Estimate
$5,750
Closing Costs
$23,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$5,885

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $398,750
Loan Amount $1,196,250
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$152

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,100

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $3,078

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$2,850
1$2,8502$2,9503$4,100
$4,100
RENT COMPS ANALYSIS
  • 5029 Mountain Foliage Drive Las Vegas, NV 3
    • 4 beds 5 baths ∙ 4,664 Sqft ∙ Built 1998 4 beds 5 baths ∙ 4,664 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $0.88
    •  
  • 8930 Lansberry Court Las Vegas, NV 1
    • 5 beds 5 baths ∙ 4,396 Sqft ∙ Built 2000 5 beds 5 baths ∙ 4,396 Sqft ∙ Built 2000
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.65
    •  
  • 8864 La Manga Avenue #0 Las Vegas, NV 2
    • 5 beds 5 baths ∙ 4,396 Sqft ∙ Built 1996 5 beds 5 baths ∙ 4,396 Sqft ∙ Built 1996
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.67
    •  
PROPERTY LISTING DETAILS
Jill Amsel
1.702.683.6563
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2246610
Last Updated: 11/07/2020
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