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PROPERTY INFO
FACTS
- Single Family
- Built In 2005
- Price/Sqft : $195.42
- 10 Days on Market
- MLS # : 2264462
- Updated Date : 02/04/2021 at 18:46
CONSTRUCTION
- Beds : 3
- Floor Size : 3,710 sqft
- Baths : 3 full , 2 half
Listing Agent
Windermere Prestige Properties
Listing Agent's Description
Far from typical Vegas homes, 1133 Morning Melody is a spacious, yet cozy home with upgrades galore. After entering the spectacular landscape and modern double doors, you'll notice the alluring hardwood floors and find a generous family room and bright dining room. In the kitchen, you will love the granite, SS appliances, breakfast bar, and desk nook. Head outdoors to your private retreat with mountain views, pergolas, tranquil fountain, green space, and a toasty fire pit. On the 2nd floor, fall in love with the airy master retreat with its gorgeous marble fireplace, dressing alcove, and spacious closet. The fully remodeled master bath boasts a large shower, jetted tub, and cabinetry! Also find two additional, huge bedrooms with walk-in closets and ensuite baths as well as a vast, sunset patio. You’ll be in awe of the 3rd floor loft with bookshelves, wet bar, 1/2 bath, and a strip-view balcony; perfect for an office or game room. Welcome home to character AND class!
SEE MORE
- 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: Calico Ridge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Calico Ridge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,500 |
| EXPENSES | Loan Payment | -$2,518 |
| Property Tax | -$388 | |
| Property Insurance | -$99 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$376
|
||
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.
$725,000
PROJECTED PRICE
$3,500
PROJECTED RENT
0.48%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.05% |
| Appreciation Year (1-5) | 8.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.57% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$197,875
LOAN DETAILS
$2,518
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $181,250 |
| Loan Amount | $543,750 |
8.67
YEARS SAVED
$86,775
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,500
LIST RENT -
$0.94
LIST RENT PER SQFT
-
$3,562
COMP ESTIMATED VALUE -
$0.96
COMP AVG. RENT PER SQFT
Comps Range
-
1133 Morning Melody Court Henderson, NV 1
- 3 beds 5 baths ∙ 3,710 Sqft ∙ Built 2005 3 beds 5 baths ∙ 3,710 Sqft ∙ Built 2005
- Rent
- Rent Per SQFT
- $3,500
- $0.94
-
472 Punto Vallata Drive Henderson, NV 2
- 4 beds 4 baths ∙ 3,983 Sqft ∙ Built 2007 4 beds 4 baths ∙ 3,983 Sqft ∙ Built 2007
LEASED 01/11/21- Rent
- Rent Per SQFT
- $3,650
- $0.92
-
1105 Via Alloro Henderson, NV 3
- 4 beds 4 baths ∙ 3,808 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,808 Sqft ∙ Built 2016
LEASED 07/16/20- Rent
- Rent Per SQFT
- $3,750
- $0.98
-
62 Contrada Fiore Drive Henderson, NV 4
- 4 beds 4 baths ∙ 3,999 Sqft ∙ Built 2007 4 beds 4 baths ∙ 3,999 Sqft ∙ Built 2007
LEASED 08/05/20- Rent
- Rent Per SQFT
- $3,900
- $0.98
PROPERTY LISTING DETAILS
1.702.994.9541
Windermere Prestige Properties
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2264462
Last Updated: 02/04/2021
