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5841 Temple Ridge Court Las Vegas, NV 89149

4 Beds 3 Baths 2,645 sqft Built 2019

$590,000

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $223.06
  • 3 Days on Market
  • MLS # : 2263329
  • Updated Date : 01/22/2021 at 23:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,645 sqft
  • Baths : 3 full
Listing Agent

Exp Realty

Listing Agent's Description

Beautiful TURN KEY single story 4 bedroom home with low maintenance front desert landscaping, 3 car garage, and RV parking in Summit Ridge Manor gated community! Walk inside to a stunning open entry way and stunning ceramic tile throughout. Private front bedroom features ceiling light, two closets, en suite with shower/tub, and exterior door to garage! Cozy family room features ceiling fan/light and is open to the kitchen that boasts large breakfast counter, gorgeous white cabinets, stainless steel appliances, and walk in pantry! Sliding door from family room leads you to the outstanding private lavish finished backyard with covered patio, rear lawn and large side yard for RV parking! Secondary bedrooms all feature ceiling lights and walk in closets. Cozy master bedroom with walk in closet, tub and walk in shower! This home won't last...VIEW TODAY!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 89149

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Zip Code: 89149

ZipNIR 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
Marshall C. Darnell Elementary School Primary Regular 793 40 6
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Centennial High School High Regular 3,055 124 6

Marshall C. Darnell Elementary School

  • Education Level: Primary
  • # of students: 793
  • # of teachers: 40
6
GreatSchools Rating

Edmundo Eddie Escobedo Sr Middle School

  • Education Level: Middle
  • # of students: 1,171
  • # of teachers: 47
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$531,000$649,000$590,000

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$2,049
Property Tax -$467
Property Insurance -$78
Property Management Fees -$119
CASH FLOW
-$384

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.

$590,000

PROJECTED PRICE

$2,330

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.8%
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-$10k-$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$162,100

INVESTMENT

$162,100

Down Payment
$147,500
Rehab Estimate
$5,750
Closing Costs
$8,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,049

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $147,500
Loan Amount $442,500
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$10,158

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,116

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8853$2,1004$2,3305$2,400
$2,400
RENT COMPS ANALYSIS
  • 5841 Temple Ridge Court Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,645 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,645 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $0.88
    •  
  • 6680 Bristle Falls Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,318 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,318 Sqft ∙ Built 2015
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.78
    •  
  • 6454 Dunns River Street Las Vegas, NV 2
    • 3 beds 2 baths ∙ 2,328 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,328 Sqft ∙ Built 2017
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,885
    • $0.81
    •  
  • 6635 Rego Park Court Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,709 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,709 Sqft ∙ Built 2013
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.78
    •  
  • 6631 Chinatown Street Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,908 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,908 Sqft ∙ Built 2007
    LEASED 08/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.83
    •  
PROPERTY LISTING DETAILS
Aaron Taylor
1.702.310.6683
Exp Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2263329
Last Updated: 01/22/2021
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