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132 Red Coral Drive Henderson, NV 89002

3 Beds 2 Baths 2,096 sqft Built 1995

$355,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $169.37
  • 6 Days on Market
  • MLS # : 2248688
  • Updated Date : 11/20/2020 at 10:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,096 sqft
  • Baths : 2 full
Listing Agent

Prestige Properties

Listing Agent's Description

LOVELY 1 OWNER HOME, NO HOA, ONE STORY HOME WITH 4 BEDROOMS, 2 FULL BATHS, 3 CAR GARAGE, NICE SIZE FORMAL COMBO LIVING & DINNING ROOM, AND A FAMILY ROOM WITH FIRE PLACE, WHICH OPENS INTO KITCHEN AREA, KITCHEN HAS ISLAND, WITH PLENTY OF ROOM FOR KITCHEN TABLE, LOTS OF COUNTER SPACE & CABINETS. MATURE DESERT LANDSCAPED FRONT YARD, BACK YARD HAS A COVERED PATIO WITH MATURE LANDSCAPE.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Highland Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $117k340k

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

Neighborhood: Highland Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9181825

* 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
Fay Galloway Elementary School Primary Regular 691 36 6
Jack And Terry Mannion Middle School Middle Regular 1,523 62 NA
Foothill High School High Regular 2,883 109 7

Fay Galloway Elementary School

  • Education Level: Primary
  • # of students: 691
  • # of teachers: 36
6
GreatSchools Rating

Jack And Terry Mannion Middle School

  • Education Level: Middle
  • # of students: 1,523
  • # of teachers: 62
NA
GreatSchools Rating

Foothill High School

  • Education Level: High
  • # of students: 2,883
  • # of teachers: 109
7
GreatSchools Rating
 

$319,500$390,500$355,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,310
Property Tax -$211
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
-$57

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.

$355,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.2%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,825

INVESTMENT

$99,825

Down Payment
$88,750
Rehab Estimate
$5,750
Closing Costs
$5,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,310

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $88,750
Loan Amount $266,250
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$22,744

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,734

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6503$1,6504$1,7005$1,795
$1,795
RENT COMPS ANALYSIS
  • 132 Red Coral Drive Henderson, NV 3
    • 3 beds 2 baths ∙ 2,096 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,096 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.79
    •  
  • 861 Coral Cottage Drive Henderson, NV 1
    • 4 beds 3 baths ∙ 2,018 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,018 Sqft ∙ Built 1994
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.79
    •  
  • 1004 Kings View Court Henderson, NV 2
    • 3 beds 2 baths ∙ 1,928 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,928 Sqft ∙ Built 1996
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.86
    •  
  • 855 Coach House Road Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,018 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,018 Sqft ∙ Built 1994
    LEASED 04/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.84
    •  
  • 254 Patti Ann Woods Drive Henderson, NV 5
    • 3 beds 3 baths ∙ 2,197 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,197 Sqft ∙ Built 2002
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.82
    •  
PROPERTY LISTING DETAILS
Gregg Poots
1.702.743.7262
Prestige Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2248688
Last Updated: 11/20/2020
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