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1525 Spiced Wine Avenue #19104 Henderson, NV 89074

3 Beds 4 Baths 2,333 sqft Built 2016

$329,900

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $141.41
  • 4 Days on Market
  • MLS # : 2243984
  • Updated Date : 11/05/2020 at 04:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,333 sqft
  • Baths : 3 full , 1 half
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

This Exceptional 3 BR w/2 car garage, Tri-level home offers open concept living spaces in neutral colors that blend with any decor and is located in a Spectacular Gated Community. Every chef will love the Gourmet Kitchen with expanded center island, triple thick granite, custom backsplash, and stainless appliances. All bedrooms are generous and have ensuite baths. Impressive Rooftop Deck w/incredible views include a gas fireplace, lighting, added electrical, water spigot & a place for your BBQ.Enjoy sunrises & sunsets, have an intimate dinner with someone special on your rooftop deck where Dramatic Mountain & City Views enhance the experience. This home is stylish, refined with finishes beyond the ordinary, and has state of the art tech upgrades. Discover a true sense of community & make new friends. Amenities include pools, spas, clubhouse & park areas. Easy access to the highway, well-rated schools, shopping, dining, and recreation. Hurry...This is the home you have been waiting for!

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: Gibson Springs

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $121k340k

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

Neighborhood: Gibson Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10801825

* 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
Selma F. Bartlett Elementary School Primary Regular 682 35 10
Barbara And Hank Greenspun Middle School Middle Regular 1,397 55 NA
Coronado High School High Regular 3,240 124 10

Selma F. Bartlett Elementary School

  • Education Level: Primary
  • # of students: 682
  • # of teachers: 35
10
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
 

$296,910$362,890$329,900

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,217
Property Tax -$204
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
-$13

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.

$329,900

PROJECTED PRICE

$1,600

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.8%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,174

INVESTMENT

$93,174

Down Payment
$82,475
Rehab Estimate
$5,750
Closing Costs
$4,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,217

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,475
Loan Amount $247,425
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$24,731

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,913

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7953$1,7954$1,9755$1,995
$1,995
RENT COMPS ANALYSIS
  • 1525 Spiced Wine Avenue #19104 Henderson, NV 1
    • 3 beds 4 baths ∙ 2,333 Sqft ∙ Built 2016 3 beds 4 baths ∙ 2,333 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.69
    •  
  • 1525 Spiced Wine Avenue #30102 Henderson, NV 2
    • 3 beds 4 baths ∙ 2,333 Sqft ∙ Built 2015 3 beds 4 baths ∙ 2,333 Sqft ∙ Built 2015
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.77
    •  
  • 241 Buena Adventura Henderson, NV 3
    • 4 beds 3 baths ∙ 2,197 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,197 Sqft ∙ Built 2001
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.82
    •  
  • 1346 Bear Brook Avenue Henderson, NV 4
    • 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 2018
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.80
    •  
  • 1340 Spice Ridge Court #n/a Henderson, NV 5
    • 3 beds 3 baths ∙ 2,252 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,252 Sqft ∙ Built 2007
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.89
    •  
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 #: 2243984
Last Updated: 11/05/2020
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