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1157 Sparta Crest Street Henderson, NV 89052

5 Beds 3 Baths 4,588 sqft Built 2016

$1,150,000

List Price

$3,820

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $250.65
  • 2 Days on Market
  • MLS # : 2276624
  • Updated Date : 03/06/2021 at 23:14
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,588 sqft
  • Baths : 3 full
Listing Agent

Windermere Anthem Hills

Listing Agent's Description

Exquisite estate in gated Seven Hills community on over 1/4 acre lot. Extremely rare yard size for Anthem area of Henderson w/ strip & mtn views. Property features include: Brand new- surround sound system in every room, garage & rear exterior w/ amplifier included, epoxy flooring in garage, ceiling fans on covered patio. Framed plantation shutters throughout, Mohawk rare vintage laminated wood throughout/no carpet, custom computer niche & built in entertainment center w/shiplap wood paneling & wainscoting. Kit: Custom cabinets capped w/crown molding, upgraded tile backsplash, built in ice machine, instant hot & cold drinking water, Electrolux SS appliances, granite counters & huge pantry, cabs & wine rack under kit island. Addl cabinets added to every room. Resort backyard boasts new pool w/waterfall, slide, remote controlled cover, heated, spa, game court w/BB hoop, tether ball, firepit, wired for outdoor lighting, lg side yard w/astro turf. SO MUCH MORE-MUST SEE TO APPRECIATE.

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: Seven Hills

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k479k

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

Neighborhood: Seven Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10802338

* 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
Elise L. Wolff Elementary School Primary Regular 935 46 10
Del E Webb Middle School Middle Regular 1,863 74 NA
Coronado High School High Regular 3,240 124 10

Elise L. Wolff Elementary School

  • Education Level: Primary
  • # of students: 935
  • # of teachers: 46
10
GreatSchools Rating

Del E Webb Middle School

  • Education Level: Middle
  • # of students: 1,863
  • # of teachers: 74
NA
GreatSchools Rating

Coronado High School

  • Education Level: High
  • # of students: 3,240
  • # of teachers: 124
10
GreatSchools Rating
 

$1,035,000$1,265,000$1,150,000

PURCHASE PRICE

$3,438$4,202$3,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,820
EXPENSES Loan Payment -$3,994
Property Tax -$651
Property Insurance -$116
Property Management Fees -$119
CASH FLOW
-$1,061

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.

$1,150,000

PROJECTED PRICE

$3,820

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 6.8%
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$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$10k$0.0$10k$20k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$310,500

INVESTMENT

$310,500

Down Payment
$287,500
Rehab Estimate
$5,750
Closing Costs
$17,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,994

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $287,500
Loan Amount $862,500
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$7,932

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,820

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $3,602

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,3003$3,6004$3,6005$3,820
$3,820
RENT COMPS ANALYSIS
  • 1157 Sparta Crest Street Henderson, NV 5
    • 5 beds 3 baths ∙ 4,588 Sqft ∙ Built 2016 5 beds 3 baths ∙ 4,588 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $3,820
    • $0.83
    •  
  • 1272 Panini Drive #na Henderson, NV 1
    • 5 beds 5 baths ∙ 4,497 Sqft ∙ Built 2002 5 beds 5 baths ∙ 4,497 Sqft ∙ Built 2002
    LEASED 01/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.71
    •  
  • 1517 Via Salaria Court Las Vegas, NV 2
    • 5 beds 3 baths ∙ 4,331 Sqft ∙ Built 2002 5 beds 3 baths ∙ 4,331 Sqft ∙ Built 2002
    LEASED 09/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.76
    •  
  • 3080 Via Flaminia Court Henderson, NV 3
    • 5 beds 3 baths ∙ 4,331 Sqft ∙ Built 2002 5 beds 3 baths ∙ 4,331 Sqft ∙ Built 2002
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $0.83
    •  
  • 2834 Poseidon Shore Avenue Henderson, NV 4
    • 5 beds 5 baths ∙ 4,282 Sqft ∙ Built 2018 5 beds 5 baths ∙ 4,282 Sqft ∙ Built 2018
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $0.84
    •  
PROPERTY LISTING DETAILS
Samantha J Smith
1.702.349.3315
Windermere Anthem Hills
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2276624
Last Updated: 03/06/2021
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