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1188 Evergreen Cove Street Henderson, NV 89011

5 Beds 3 Baths 2,986 sqft Built 2008

$415,000

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $138.98
  • 3 Days on Market
  • MLS # : 2271178
  • Updated Date : 02/26/2021 at 08:30
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,986 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

Welcome home to your beautiful 5 Bedroom located in a scenic area of Henderson. Spacious floorplan w/1 bedroom downstairs, 3 bathrooms & a 2 car garage with water softener. You can enjoy cooking in an upgraded kitchen, with granite counters, custom backsplash, custom cabinetry, pantry, eating nook & separate dining room off the kitchen. You can also enjoy TV in your separate family room or create a theater room in your gigantic loft. If you are looking for an open floorplan, with one bedroom downstairs and Primary bedroom and secondary bedrooms upstairs, this home is for you. Exceptional neighborhood & this lovely home is absolutely a perfect choice and features a beautifully landscaped front & oversized backyard with a covered patio, extended pavestone patio & firepit. Newly painted exteriors. Stunning Mountain views can be seen. Easy access to Wetlands Park, off roading, restaurants, freeway, shopping centers, Westin Hills Sports & Dog Park and so much more....Hurry on this gem!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Pittman

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $72k340k

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

Neighborhood: Pittman

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500160017001800Rent in $7911825

* 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
 

$373,500$456,500$415,000

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,441
Property Tax -$289
Property Insurance -$85
Property Management Fees -$119
CASH FLOW
$306

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$415,000

PROJECTED PRICE

$2,240

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.5%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,441

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

9.17

YEARS SAVED

$52,646

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,351

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2403$2,2504$2,2505$2,600
$2,600
RENT COMPS ANALYSIS
  • 1188 Evergreen Cove Street Henderson, NV 2
    • 5 beds 3 baths ∙ 2,986 Sqft ∙ Built 2008 5 beds 3 baths ∙ 2,986 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $0.75
    •  
  • 290 Via Franciosa Drive Henderson, NV 1
    • 5 beds 3 baths ∙ 2,857 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,857 Sqft ∙ Built 2006
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.77
    •  
  • 304 Via Di Citta Drive Henderson, NV 3
    • 4 beds 3 baths ∙ 3,044 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,044 Sqft ∙ Built 2006
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.74
    •  
  • 900 Via Del Tramonto Street Henderson, NV 4
    • 4 beds 2 baths ∙ 2,856 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,856 Sqft ∙ Built 2007
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.79
    •  
  • 208 Via Mezza Luna Court Henderson, NV 5
    • 4 beds 3 baths ∙ 3,042 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,042 Sqft ∙ Built 2007
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.85
    •  
PROPERTY LISTING DETAILS
Debra Hallerman
1.702.596.2520
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2271178
Last Updated: 02/26/2021
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