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157 Cobalt Sky Avenue Henderson, NV 89002

3 Beds 3 Baths 2,577 sqft Built 2007

$444,999

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $172.68
  • 2 Days on Market
  • MLS # : 2278423
  • Updated Date : 03/14/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,577 sqft
  • Baths : 2 full , 1 half
Listing Agent

Refined Living A Re Brokerage

Listing Agent's Description

WELCOME TO THIS BEAUTIFUL PARADISE HILLS HOME IN HENDERSON! OPEN FLOOR PLAN WITH NEARLY 2600 SQUARE FEET, 3 BEDROOMS, 3 BATHROOMS, LOFT AND A 3-CAR GARAGE! KITCHEN WITH GRANITE COUNTERTOPS, AN ISLAND, AND STAINLESS STEEL APPLIANCES! PRIMARY BEDROOM IS OVERSIZED WITH A WALK IN CLOSET AND A BATHROOM THAT HAS DUAL SINKS AND SEPARATE TUB/SHOWER! UPSTAIRS FEATURES A HUGE LOFT, SPARE BEDROOMS WITH THEIR OWN WALK IN CLOSET, FULL BATHROOM AND LAUNDRY ROOM! BACKYARD HAS A NEAR FINISHED GAZEBO, BUILT-IN BBQ, PATIO COVER AND PAVERS!

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: Paradise Hills

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k393k

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

Neighborhood: Paradise Hills

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
James E And A Rae Smalley Elementary School Primary Regular 878 40 10
Jack And Terry Mannion Middle School Middle Regular 1,523 62 NA
Foothill High School High Regular 2,883 109 7

James E And A Rae Smalley Elementary School

  • Education Level: Primary
  • # of students: 878
  • # of teachers: 40
10
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
 

$400,499$489,499$444,999

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,546
Property Tax -$321
Property Insurance -$77
Property Management Fees -$119
CASH FLOW
-$92

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.

$444,999

PROJECTED PRICE

$1,970

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.2%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$123,675

INVESTMENT

$123,675

Down Payment
$111,250
Rehab Estimate
$5,750
Closing Costs
$6,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,546

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $111,250
Loan Amount $333,749
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$21,169

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,017

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8503$1,9704$2,0955$2,099
$2,099
RENT COMPS ANALYSIS
  • 157 Cobalt Sky Avenue Henderson, NV 3
    • 3 beds 3 baths ∙ 2,577 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,577 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.76
    •  
  • 1221 Grove Park Street Henderson, NV 1
    • 4 beds 3 baths ∙ 2,246 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,246 Sqft ∙ Built 2007
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.80
    •  
  • 1022 Swingline Street #n/a Henderson, NV 2
    • 4 beds 3 baths ∙ 2,444 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,444 Sqft ∙ Built 2005
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.76
    •  
  • 247 Mission Verde Avenue Henderson, NV 4
    • 3 beds 3 baths ∙ 2,560 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,560 Sqft ∙ Built 2005
    property image
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.82
    •  
  • 1204 Grove Park Street Henderson, NV 5
    • 4 beds 3 baths ∙ 2,805 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,805 Sqft ∙ Built 2006
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,099
    • $0.75
    •  
PROPERTY LISTING DETAILS
Michael J Rebarchick
1.702.501.8726
Refined Living A Re Brokerage
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2278423
Last Updated: 03/14/2021
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