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1133 Morning Melody Court Henderson, NV 89011

3 Beds 5 Baths 3,710 sqft Built 2005

$725,000

List Price

$3,500

$3.3K - $3.8K

Rent Est.

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!

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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: Calico Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k435k

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

Neighborhood: Calico Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10802043

* 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
Josh Stevens Elementary School Primary Unknown NA
B. Mahlon Brown Junior High School Middle Regular 978 46 NA
Basic High School High Regular 2,367 100 3

Josh Stevens Elementary School

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

B. Mahlon Brown Junior High School

  • Education Level: Middle
  • # of students: 978
  • # of teachers: 46
NA
GreatSchools Rating

Basic High School

  • Education Level: High
  • # of students: 2,367
  • # of teachers: 100
3
GreatSchools Rating
 

$652,500$797,500$725,000

PURCHASE PRICE

$3,150$3,850$3,500

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530$0.0$10k$20k$30k$40k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$197,875

INVESTMENT

$197,875

Down Payment
$181,250
Rehab Estimate
$5,750
Closing Costs
$10,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$2,518

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $181,250
Loan Amount $543,750
See What Happens When You Reinvest Cash Flow

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
$3,500
1$3,5002$3,6503$3,7504$3,900
$3,900
RENT COMPS ANALYSIS
  • 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
Nicole Terry
1.702.994.9541
Windermere Prestige Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2264462
Last Updated: 02/04/2021
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