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5777 Cowboy Fiddle Court Las Vegas, NV 89131

6 Beds 3 Baths 3,368 sqft Built 2003

INVESTimate

$474,900

List Price

$2,370

$2,133 - $2,607

Rent Est.

$523,910  ( +10.32%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $141.00
  • 4 Days on Market
  • MLS # : 2224231
  • Updated Date : 08/24/2020 at 14:48
CONSTRUCTION
  • Beds : 6
  • Floor Size : 3,368 sqft
  • Baths : 3 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

WOW! COME & GET THIS 6 BR (YES, 6!) SUPER CLEAN & COZY FAMILY HOME! TRULY A TURN-KEY HOME!! BEAUTIFUL WOOD LAMINATE FLOORS THROUGHOUT DNSTRS--BEAUTIFUL CROWN MOULDING ACCENTS THROUGHOUT--NEWER: INTERIOR PAINT, FAMILY ROOM CARPET, KITCHEN BACKSPLASH & DARK S/S APPLIANCES--BRAND NEW: EXTERIOR PAINT, POOL RE-PLASTER/TILE, DECK RE-COATED & PAINTED--TONS OF WHITE CABINETS W/CORIAN CNTRS IN KITCHEN--ALL APPL. STAY INCL GARAGE FRIDGE (BUT NOT GARAGE FREEZER)--10 CEILING FANS T/O--4 BR'S UP, 2 BR'S DOWN & A 12X12 LOFT--UPSTAIRS LAUNDRY RM W/CABINETS--FRAMELESS SHOWER ENCL. IN MBATH--2 WALK-IN CLOSETS IN MBR--SUPER PLUSH CARPET--DESK IN 5TH BR STAYS--WATER SOFTENER--R/O SYSTEM--FRONT SECURITY DOOR--SOLAR SCREENS--RECIRC PUMP ON H20 HEATER--HANGING STORAGE RACKS IN GARAGE--POOL SOLAR HEATED--4 POOL UMBRELLAS STAY--2 NEW CEIL FANS ON COV'D PATIO--PALAPA--SUPER HANDY SECOND 13X50 SIDE DRIVEWAY--ALL BACKYARD YARD ART DOES NOT STAY!! THIS HOUSE TRULY HAS IT ALL!!

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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
Howard Heckethorn Elementary School Primary Regular 657 35 7
Anthony Saville Middle School Middle Regular 1,494 58 NA
Shadow Ridge High School High Regular 2,697 105 6

Howard Heckethorn Elementary School

  • Education Level: Primary
  • # of students: 657
  • # of teachers: 35
7
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
 

$427,410$522,390$474,900

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$1,752
Property Tax -$368
Property Insurance -$92
HOA -$45
Property Management Fees -$119
CASH FLOW
-$7

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.

$474,900

PROJECTED PRICE

$2,370

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.32%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,599

INVESTMENT

$131,599

Down Payment
$118,725
Rehab Estimate
$5,750
Closing Costs
$7,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,752

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,725
Loan Amount $356,175
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$36,013

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,560

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,4003$2,4954$2,7005$3,000
$3,000
RENT COMPS ANALYSIS
  • 5777 Cowboy Fiddle Court Las Vegas, NV 1
    • 6 beds 3 baths ∙ 3,368 Sqft ∙ Built 2003 6 beds 3 baths ∙ 3,368 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6913 Puetollano Drive North Las Vegas, NV 2
    • 6 beds 4 baths ∙ 3,628 Sqft ∙ Built 2006 6 beds 4 baths ∙ 3,628 Sqft ∙ Built 2006
    LEASED 03/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.66
    •  
  • 6917 Puetollano Las Vegas, NV 3
    • 5 beds 4 baths ∙ 3,399 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,399 Sqft ∙ Built 2006
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.73
    •  
  • 8528 Grand Palms Circle Las Vegas, NV 4
    • 5 beds 5 baths ∙ 3,304 Sqft ∙ Built 2006 5 beds 5 baths ∙ 3,304 Sqft ∙ Built 2006
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.82
    •  
  • 5810 Majestic Tide Avenue Las Vegas, NV 5
    • 5 beds 3 baths ∙ 3,596 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,596 Sqft ∙ Built 2001
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.83
    •  
PROPERTY LISTING DETAILS
Heidi Miller
1.702.497.7778
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224231
Last Updated: 08/24/2020
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