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5535 Moore Cove Avenue Las Vegas, NV 89131

5 Beds 4 Baths 3,958 sqft Built 2017

$609,900

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $154.09
  • 3 Days on Market
  • MLS # : 2269974
  • Updated Date : 02/13/2021 at 04:30
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,958 sqft
  • Baths : 3 full , 1 half
Listing Agent

Desert Wave

Listing Agent's Description

Beautiful 2 story Richmond American home only 3 years old. Main floor features a guest bedroom with expanded doorway and full bath, separate office, formal dining room with bay window, large laundry room with sink,expansive open great room wired for surround sound and gourmet kitchen with island, upgraded cabinets, stainless steel appliances with double oven and walk in pantry. The upstairs offers a large loft and master bedroom with walk in double closets. 3 other large size bedrooms upstairs with ceiling fans. All interior walls have been insulated. 3 car garage with upsized 8 ft doors and water softener.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Kitty Mcdonough Ward Elementary School Primary Regular 830 43 9
Anthony Saville Middle School Middle Regular 1,494 58 NA
Shadow Ridge High School High Regular 2,697 105 6

Kitty Mcdonough Ward Elementary School

  • Education Level: Primary
  • # of students: 830
  • # of teachers: 43
9
GreatSchools Rating

Anthony Saville Middle School

  • Education Level: Middle
  • # of students: 1,494
  • # of teachers: 58
NA
GreatSchools Rating

Shadow Ridge High School

  • Education Level: High
  • # of students: 2,697
  • # of teachers: 105
6
GreatSchools Rating
 

$548,910$670,890$609,900

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$2,118
Property Tax -$454
Property Insurance -$104
Property Management Fees -$119
CASH FLOW
-$295

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.

$609,900

PROJECTED PRICE

$2,500

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.3%
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

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$167,374

INVESTMENT

$167,374

Down Payment
$152,475
Rehab Estimate
$5,750
Closing Costs
$9,149

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,118

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $152,475
Loan Amount $457,425
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$16,600

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $0.63

    LIST RENT PER SQFT
  • $2,395

    COMP ESTIMATED VALUE
  • $0.61

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,4303$2,500
$2,500
RENT COMPS ANALYSIS
  • 5535 Moore Cove Avenue Las Vegas, NV 3
    • 5 beds 4 baths ∙ 3,958 Sqft ∙ Built 2017 5 beds 4 baths ∙ 3,958 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.63
    •  
  • 6009 Jalisco Avenue Las Vegas, NV 1
    • 4 beds 4 baths ∙ 3,818 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,818 Sqft ∙ Built 2005
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.57
    •  
  • 8220 Fowler Falls Court North Las Vegas, NV 2
    • 6 beds 5 baths ∙ 3,804 Sqft ∙ Built 2006 6 beds 5 baths ∙ 3,804 Sqft ∙ Built 2006
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $0.64
    •  
PROPERTY LISTING DETAILS
Michelle A Thomas
1.702.580.7981
Desert Wave
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2269974
Last Updated: 02/13/2021
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