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537 Las Ocas Court Las Vegas, NV 89138

4 Beds 3 Baths 2,680 sqft Built 2006

$649,900

List Price

$2,770

$2.5K - $3K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $242.50
  • 3 Days on Market
  • MLS # : 2253557
  • Updated Date : 12/04/2020 at 14:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,680 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Gavish Real Estate

Listing Agent's Description

Extremely well maintained highly-upgraded home located in gated community at the Vistas in Summerlin. Positioned on a cul-de-sac, this home features hand scraped real hardwood Cherry floors, crown molding, custom wood plantation shutters, cased windows and solar screens. Primary bedroom on first floor. Two natural gas fireplaces inside. Oversized loft is perfect for game room and has access to outdoor balcony! Backyard includes a stunning solar heated pebble tech pool, outdoor natural gas stone fireplace, built in Jenn-Air 6 burner BBQ Grill with mini refrigerator and bar for seating. Minutes from 215 Beltway, Downtown Summerlin and Red Rock Casino.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: The Vistas

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $119k457k

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

Neighborhood: The Vistas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10762145

* 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
Linda Rankin Givens Elementary School Primary Regular 1,100 52 9
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Linda Rankin Givens Elementary School

  • Education Level: Primary
  • # of students: 1,100
  • # of teachers: 52
9
GreatSchools Rating

Sig Rogich Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 70
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$584,910$714,890$649,900

PURCHASE PRICE

$2,493$3,047$2,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,770
EXPENSES Loan Payment -$2,398
Property Tax -$455
Property Insurance -$79
Property Management Fees -$119
CASH FLOW
-$281

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.

$649,900

PROJECTED PRICE

$2,770

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 6.9%
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$500k$1.0M$1.5M$2.0M

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$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$177,974

INVESTMENT

$177,974

Down Payment
$162,475
Rehab Estimate
$5,750
Closing Costs
$9,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,475
Loan Amount $487,425
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$26,297

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,770

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $2,794

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5953$2,5954$2,7705$2,900
$2,900
RENT COMPS ANALYSIS
  • 537 Las Ocas Court Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,680 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,680 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,770
    • $1.03
    •  
  • 536 Calahonda Court Las Vegas, NV 1
    • 5 beds 2 baths ∙ 2,548 Sqft ∙ Built 2006 5 beds 2 baths ∙ 2,548 Sqft ∙ Built 2006
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.98
    •  
  • 519 Las Ocas Court Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 2006
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.02
    •  
  • 604 Wandering Violets Way Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 2004
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.05
    •  
  • 11807 Mino Rio Avenue Las Vegas, NV 5
    • 4 beds 5 baths ∙ 2,580 Sqft ∙ Built 2017 4 beds 5 baths ∙ 2,580 Sqft ∙ Built 2017
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.12
    •  
PROPERTY LISTING DETAILS
Sandra Herbstreit
1.702.290.7125
Century 21 Gavish Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2253557
Last Updated: 12/04/2020
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