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2 Sea Lavender Court Henderson, NV 89074

4 Beds 3 Baths 1,914 sqft Built 2013

$350,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $182.86
  • 5 Days on Market
  • MLS # : 2249111
  • Updated Date : 11/20/2020 at 16:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,914 sqft
  • Baths : 2 full , 1 half
Listing Agent

Signature Real Estate Group

Listing Agent's Description

Wow! Adorable home in Green Valley close to freeways and shopping.Rare Deep driveway on cul-de-sac Inside great room has tile flooring through-out. Kitchen bodes granite counters white cabinetry w/tile backsplash. Upstairs bathroom has been remodeled. Master bedroom is spacious and has a custom walk-in closet. Don't miss this gem it will go fast.

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
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,291
Property Tax -$257
Property Insurance -$64
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.

$350,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.47%

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$18,683

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,756

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,599
1$1,5992$1,6403$1,7004$1,7255$1,725
$1,725
RENT COMPS ANALYSIS
  • 2 Sea Lavender Court Henderson, NV 2
    • 4 beds 3 baths ∙ 1,914 Sqft ∙ Built 2013 4 beds 3 baths ∙ 1,914 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.86
    •  
  • 1553 Red Canal Court Henderson, NV 1
    • 3 beds 3 baths ∙ 1,780 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,780 Sqft ∙ Built 2007
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.90
    •  
  • 5 Ladasa Court Henderson, NV 3
    • 3 beds 3 baths ∙ 1,827 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,827 Sqft ∙ Built 2013
    property image
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.93
    •  
  • 32 Jasmine Point Street Henderson, NV 4
    • 4 beds 3 baths ∙ 1,914 Sqft ∙ Built 2013 4 beds 3 baths ∙ 1,914 Sqft ∙ Built 2013
    property image
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.90
    •  
  • 8 Jasmine Point Street Henderson, NV 5
    • 3 beds 3 baths ∙ 1,827 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,827 Sqft ∙ Built 2012
    property image
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.94
    •  
PROPERTY LISTING DETAILS
Joni Crompton
1.702.401.3067
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249111
Last Updated: 11/20/2020
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