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604 Wealdston Court Las Vegas, NV 89178

3 Beds 3 Baths 2,492 sqft Built 2005

$385,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $154.49
  • 6 Days on Market
  • MLS # : 2274408
  • Updated Date : 03/07/2021 at 03:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,492 sqft
  • Baths : 2 full , 1 half
Listing Agent

Local Realty

Listing Agent's Description

Stunningly lovely home! Former model home. 3 Bedrooms w/den and loft. Travertine tile downstairs, granite counter tops, Extra large rms, Separate Family Room w/ built ins. Double doors to Down Stairs Den, Crown molding, Huge loft w/ built-ins up stairs, Master has home full length balcony and custom closet built ins, Beautiful master bath w separate tub and shower. Covered patio, and pool sized backyard with lots of potential!

SEE MORE

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
Robert L. Forbuss Elementary School Primary Regular 1,163 56 7
Wilbur And Theresa Faiss Middle School Middle Regular 1,409 61 NA
Sierra Vista High School High Regular 2,396 88 4

Robert L. Forbuss Elementary School

  • Education Level: Primary
  • # of students: 1,163
  • # of teachers: 56
7
GreatSchools Rating

Wilbur And Theresa Faiss Middle School

  • Education Level: Middle
  • # of students: 1,409
  • # of teachers: 61
NA
GreatSchools Rating

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

$346,500$423,500$385,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,337
Property Tax -$274
Property Insurance -$75
Property Management Fees -$119
CASH FLOW
-$36

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.

$385,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.46%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,337

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$21,926

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,807

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,625
1$1,6252$1,6503$1,7504$1,7705$1,875
$1,875
RENT COMPS ANALYSIS
  • 604 Wealdston Court Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,492 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,492 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.71
    •  
  • 476 Redruth Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,310 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,310 Sqft ∙ Built 2007
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.70
    •  
  • 802 Warwick Castle Drive Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,322 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,322 Sqft ∙ Built 2005
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.71
    •  
  • 8181 Hafner Las Vegas, NV 3
    • 4 beds 1 baths ∙ 2,328 Sqft ∙ Built 2019 4 beds 1 baths ∙ 2,328 Sqft ∙ Built 2019
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.75
    •  
  • 661 Newquay Court #0 Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,532 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,532 Sqft ∙ Built 2007
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.74
    •  
PROPERTY LISTING DETAILS
Jamie C Mclain
1.702.544.7996
Local Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2274408
Last Updated: 03/07/2021
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