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142 Ultra Drive Henderson, NV 89074

4 Beds 3 Baths 2,985 sqft Built 1994

$610,000

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $204.36
  • 3 Days on Market
  • MLS # : 2276218
  • Updated Date : 03/05/2021 at 11:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,985 sqft
  • Baths : 3 full
Listing Agent

Golden River Realty

Listing Agent's Description

LOVELY 4 BEDROOM, 3 BATHS WITH 3 CAR GARAGE . HOME ON GOLF COURSE LOT. BRAND NEW PAINT, TILE THRU OUT FIRST FLOOR, EXCEPT BED ROOM DOWN STAIRS, BRAND NEW CARPET THRU OUT BEDROOMS, KITCHEN WITH GRANITE COUNTER TOP & ISLAND , NEW SINK, NEW SHOWER, NEW TUBS,NEW FAUCETS, BED ROOM WITH CEILING FAN, FAMILY ROOM WITH FIREPLACE, HOUSE IN GUARD GATED COMMUNITY, VAULTED CEILING, & A VIEW OF THE GOLF COURSE FROM THE BIG BACKYARD. **** 24-hour guard-gated community. A perfect location is close to shopping, Green Valley Hotel & District outdoor mall.****

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: Green Valley South

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k362k

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

Neighborhood: Green Valley South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10801875

* 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
David M. Cox Elementary School Primary Regular 625 32 8
Barbara And Hank Greenspun Middle School Middle Regular 1,397 55 NA
Coronado High School High Regular 3,240 124 10

David M. Cox Elementary School

  • Education Level: Primary
  • # of students: 625
  • # of teachers: 32
8
GreatSchools Rating

Barbara And Hank Greenspun Middle School

  • Education Level: Middle
  • # of students: 1,397
  • # of teachers: 55
NA
GreatSchools Rating

Coronado High School

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

$549,000$671,000$610,000

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$2,119
Property Tax -$338
Property Insurance -$85
Property Management Fees -$119
CASH FLOW
-$391

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.

$610,000

PROJECTED PRICE

$2,270

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.9%
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

PROJECTED ANNUAL CASH FLOW

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

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$167,400

INVESTMENT

$167,400

Down Payment
$152,500
Rehab Estimate
$5,750
Closing Costs
$9,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,119

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $152,500
Loan Amount $457,500
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$11,767

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,270

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,463

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,270
1$2,2702$2,3503$2,5004$2,6005$2,700
$2,700
RENT COMPS ANALYSIS
  • 142 Ultra Drive Henderson, NV 1
    • 4 beds 3 baths ∙ 2,985 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,985 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,270
    • $0.76
    •  
  • 2223 Midvale Terrace Henderson, NV 2
    • 4 beds 4 baths ∙ 3,100 Sqft ∙ Built 1995 4 beds 4 baths ∙ 3,100 Sqft ∙ Built 1995
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.76
    •  
  • 272 El Camino Verde Henderson, NV 3
    • 5 beds 3 baths ∙ 2,999 Sqft ∙ Built 1990 5 beds 3 baths ∙ 2,999 Sqft ∙ Built 1990
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.83
    •  
  • 2344 Thayer Avenue Henderson, NV 4
    • 5 beds 4 baths ∙ 3,100 Sqft ∙ Built 1997 5 beds 4 baths ∙ 3,100 Sqft ∙ Built 1997
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.84
    •  
  • 2367 Thayer Henderson, NV 5
    • 4 beds 3 baths ∙ 3,099 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,099 Sqft ∙ Built 1999
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.87
    •  
PROPERTY LISTING DETAILS
Karen Tam
1.702.338.9818
Golden River Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2276218
Last Updated: 03/05/2021
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