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682 Blue Lake Court Boulder City, NV 89005

3 Beds 3 Baths 2,082 sqft Built 2001

$559,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $268.49
  • 2 Days on Market
  • MLS # : 2276571
  • Updated Date : 03/07/2021 at 05:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,082 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

The exclusive, Blue Lake Community enclave of 20 single story homes is conveniently located just minutes from hiking, biking trails and Lake Mead National Park! This spacious and immaculate cul de sac home features an open floor plan with new flooring, new light fixtures and walls of windows overlooking low maintanance private large backyard with endless possibilities. Lot is approximately 10,000 Sq. Ft. There is a dedicated dining room, a large living room with gas fireplace and a highly functional eat-in kitchen with breakfast bar, an abundance of storage, solid surface countertops, and appliances. The primary retreat is separate, 19x16 and features a lavish walk in closet, and a bathroom with separate sinks, separate shower, bath tub and water closet. Secondary bedrooms are flanked by Jack and Jill bathroom is perfect for Beverly. Delightful covered patio with direct access off primary retreat and living area perfect for dining all fresco. Attached 3 Car garage and RV/Boat parking!

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

Zip Code: 89005

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k362k

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

Zip Code: 89005

ZipNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10241875

* 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
Martha P. King Elementary School Primary Regular 427 23 8
Elton M. Garrett Junior High School Middle Regular 470 22 NA
Boulder City High School High Regular 618 31 8

Martha P. King Elementary School

  • Education Level: Primary
  • # of students: 427
  • # of teachers: 23
8
GreatSchools Rating

Elton M. Garrett Junior High School

  • Education Level: Middle
  • # of students: 470
  • # of teachers: 22
NA
GreatSchools Rating

Boulder City High School

  • Education Level: High
  • # of students: 618
  • # of teachers: 31
8
GreatSchools Rating
 

$503,100$614,900$559,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,942
Property Tax -$270
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
-$448

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.

$559,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.3%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$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$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$153,885

INVESTMENT

$153,885

Down Payment
$139,750
Rehab Estimate
$5,750
Closing Costs
$8,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,942

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $139,750
Loan Amount $419,250
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$7,015

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,957

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,8003$1,8504$1,9505$2,100
$2,100
RENT COMPS ANALYSIS
  • 682 Blue Lake Court Boulder City, NV 4
    • 3 beds 3 baths ∙ 2,082 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,082 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.94
    •  
  • 224 Big Horn Drive #2 Boulder City, NV 1
    • 3 beds 3 baths ∙ 1,814 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,814 Sqft ∙ Built 2002
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.88
    •  
  • 112 Ocean Mist Lane Boulder City, NV 2
    • 3 beds 2 baths ∙ 1,954 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,954 Sqft ∙ Built 1994
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.92
    •  
  • 106 Sea Breeze Lane Boulder City, NV 3
    • 3 beds 3 baths ∙ 1,954 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,954 Sqft ∙ Built 1993
    LEASED 09/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.95
    •  
  • 684 Blue Lake Court Boulder City, NV 5
    • 3 beds 3 baths ∙ 2,082 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,082 Sqft ∙ Built 2001
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.01
    •  
PROPERTY LISTING DETAILS
Heide Hanley
1.702.561.4879
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2276571
Last Updated: 03/07/2021
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