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613 Proud Eagle Lane Las Vegas, NV 89144

5 Beds 4 Baths 3,532 sqft Built 2000

INVESTimate

$879,000

List Price

$3,520

$3,270 - $3,770

Rent Est.

$889,988  ( +1.25%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $248.87
  • 6 Days on Market
  • MLS # : 2223388
  • Updated Date : 08/24/2020 at 15:19
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,532 sqft
  • Baths : 3 full , 1 half
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

3,762 SF TOTAL INCLUDING CASITA! Prestigious, guard-gated Eagle Rock community, located across from TPC Golf Course. 3 car tandem garage. Private courtyard entry with lush landscaping and detached casita makes for a perfect home office. Newly remodeled kitchen with quartz countertops, custom cabinetry, stainless steel appliances, breakfast nook. Separate LR/FR/Formal Dining. This home has 3 fireplaces. Features an entry grand staircase and a second staircase leading from the kitchen. Upstairs master with separate study, loft with French doors leading to oversized balcony/patio. Separate balcony overlooking courtyard. Covered patio and pool-sized backyard. A truly gorgeous home!!

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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: The Canyons

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $119k728k

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

Neighborhood: The Canyons

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21500200025003000350040004500Rent in $10764605

* 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
John W. Bonner Elementary School Primary Regular 859 47 10
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

John W. Bonner Elementary School

  • Education Level: Primary
  • # of students: 859
  • # of teachers: 47
10
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
 

$791,100$966,900$879,000

PURCHASE PRICE

$3,168$3,872$3,520

RENT

DOWN PAYMENT
FINANCING

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$0.0$10k$20k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,520
EXPENSES Loan Payment -$3,243
Property Tax -$571
Property Insurance -$96
HOA -$194
Property Management Fees -$119
CASH FLOW
-$703

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.

$879,000

PROJECTED PRICE

$3,520

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 1.25%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$238,685

INVESTMENT

$238,685

Down Payment
$219,750
Rehab Estimate
$5,750
Closing Costs
$13,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,243

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $219,750
Loan Amount $659,250
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$12,799

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,520

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $3,188

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,995
1$2,9952$3,2003$3,5004$3,5005$3,520
$3,520
RENT COMPS ANALYSIS
  • 613 Proud Eagle Lane Las Vegas, NV 5
    • 5 beds 4 baths ∙ 3,532 Sqft ∙ Built 2000 5 beds 4 baths ∙ 3,532 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,520
    • $1.00
    •  
  • 508 Proud Eagle Lane Las Vegas, NV 1
    • 5 beds 3 baths ∙ 3,634 Sqft ∙ Built 1999 5 beds 3 baths ∙ 3,634 Sqft ∙ Built 1999
    property image
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.82
    •  
  • 2013 Amber Stone Court Las Vegas, NV 2
    • 4 beds 3 baths ∙ 3,542 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,542 Sqft ∙ Built 2000
    property image
    LEASED 03/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.90
    •  
  • 225 Buteo Woods Lane #0 Las Vegas, NV 3
    • 5 beds 5 baths ∙ 3,570 Sqft ∙ Built 1999 5 beds 5 baths ∙ 3,570 Sqft ∙ Built 1999
    property image
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.98
    •  
  • 9417 Garnet Crown Avenue Las Vegas, NV 4
    • 4 beds 4 baths ∙ 3,855 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,855 Sqft ∙ Built 2000
    property image
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.91
    •  
PROPERTY LISTING DETAILS
Janine Sholeff
1.702.241.1933
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223388
Last Updated: 08/24/2020
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