"People fall in love with Waterfall even before they move in because they know they'll have lots of activities at their fingertips."

Each Waterfall neighborhood -- Aberdeen Falls, Angeline Falls, Isabel Falls and Latourell Falls -- has its own private park, but Schumacher said residents have the luxury of accessing all of the parks via pedestrian walkways.

The community clubhouse offers a swimming pool, Jacuzzi, barbecue patio, 24-hour workout facility and banquet hall. It is located in the heart of Angeline Falls.

Waterfall's homeowner association fee is $78 per month.

"It's an outstanding value considering the impressive amenities and gated neighborhoods," Schumacher said. "Waterfall offers all the perks of a master-planned community without the high fees. It's a very appealing package."

While just one home remains available at Aberdeen Falls, home buyers have a variety of purchasing opportunities within Waterfall's other gated communities.

Many homes are situated on pool-sized lots.

Angeline Falls offers three two-story floor plans, ranging from 2,539 to 3,063 square feet. Layouts have as many as five bedrooms, four baths and three garage spaces. Some architectural highlights include a courtyard, casita, tech loft, bonus room and den. Some plans allow for an optional owner's retreat, office, fitness room and bunkroom. Prices start in the upper $300,000s.

Priced from the low $300,000s, Isabel Falls is an all single-story community. Home plans measure 1,750 to 2,227 square feet with up to four bedrooms and three baths. Home buyers can select from floor plans with a casita and courtyard, formal living and dining rooms or dual owner's suites and a loft.

Three homes remain available at Latourell Falls. They are inspired by the builder's Venice floor plan, which ranges from 1,955 to 2,771 square feet and includes up to four bedrooms, three baths and a loft.

Prices start in the mid-$300,000s.

All homes are Energy Star-certified and come with the builder's Two-Year Fit and Finish Warranty, which extends the normal one-year coverage to two years at no additional cost to the buyer.

Waterfall is located near Aliante. To visit, take Interstate 215, the Las Vegas Beltway, to Aliante Parkway and exit north. Turn left on Moonlight Falls Avenue and follow the signs.

Hours are 10 a.m. to 6 p.m. daily, except for Monday when the sales center opens at noon.

For more information, call 702-649-7208 or visit centexvegas.com.