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841 Orchard Course Drive Las Vegas, NV 89148

5 Beds 5 Baths 3,069 sqft Built 2015

$790,000

List Price

$2,480

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $257.41
  • 5 Days on Market
  • MLS # : 2262945
  • Updated Date : 01/22/2021 at 22:50
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,069 sqft
  • Baths : 4 full , 1 half
Listing Agent

All Vegas Properties

Listing Agent's Description

The Formal Sanctuary Plan 3231 Model Home With Tons of Upgrades. Don't Miss It. Luxury Master-planned, Guard Gated Community,with 5 BR 4.5 BA home with multi-generational functionality. This one is included a spacious Casita, Courtyard, Lofted Ceiling and Fireplace at the great room, Covered Patio and more.. The courtyard adds ambiance to an already stunning design with the Water Fountain. Call Agnes to arrange showing. 3-D Virtual Tours available. Show it to your clients before touring.

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: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k339k

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

Neighborhood: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10551829

* 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
Don And Dee Snyder Elementary School Primary Unknown NA
Wilbur And Theresa Faiss Middle School Middle Regular 1,409 61 NA
Sierra Vista High School High Regular 2,396 88 4

Don And Dee Snyder Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
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
 

$711,000$869,000$790,000

PURCHASE PRICE

$2,232$2,728$2,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,480
EXPENSES Loan Payment -$2,744
Property Tax -$435
Property Insurance -$87
Property Management Fees -$119
CASH FLOW
-$904

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.

$790,000

PROJECTED PRICE

$2,480

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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$2.5M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$215,100

INVESTMENT

$215,100

Down Payment
$197,500
Rehab Estimate
$5,750
Closing Costs
$11,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,744

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $197,500
Loan Amount $592,500
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,570

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,480

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,440

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3003$2,3954$2,4805$2,695
$2,695
RENT COMPS ANALYSIS
  • 841 Orchard Course Drive Las Vegas, NV 4
    • 5 beds 5 baths ∙ 3,069 Sqft ∙ Built 2015 5 beds 5 baths ∙ 3,069 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,480
    • $0.81
    •  
  • 152 Castle Course Avenue Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,886 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,886 Sqft ∙ Built 2008
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.76
    •  
  • 153 Tall Ruff Drive Las Vegas, NV 2
    • 5 beds 4 baths ∙ 3,050 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,050 Sqft ∙ Built 2005
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.75
    •  
  • 105 Tall Ruff Drive Las Vegas, NV 3
    • 4 beds 3 baths ∙ 3,050 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,050 Sqft ∙ Built 2005
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.79
    •  
  • 1028 Whitworth Las Vegas, NV 5
    • 5 beds 5 baths ∙ 3,049 Sqft ∙ Built 2019 5 beds 5 baths ∙ 3,049 Sqft ∙ Built 2019
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.88
    •  
PROPERTY LISTING DETAILS
Agnes L Chan Au Yeung
1.702.572.1472
All Vegas Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2262945
Last Updated: 01/22/2021
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