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2248 Verde Cape Avenue Henderson, NV 89052

4 Beds 1 Baths 2,673 sqft Built 1999

$518,800

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $194.09
  • 5 Days on Market
  • MLS # : 2250678
  • Updated Date : 11/28/2020 at 16:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,673 sqft
  • Baths : 1 full
Listing Agent

Realty Executives Southern

Listing Agent's Description

Spectacular city/strip views from the second floor of this amazing home! Popular tri-level floorplan with vaulted ceilings, extensive use of travertine throughout. Upgraded island kitchen with granite countertops and lots of cabinet space, nook w/ceiling fan, breakfast bar, and pot shelves. Downstairs Den/Office (could be 5th bedroom) and updated downstairs bathroom with shower. Formal living room with Vaulted Ceiling, separate Family Room with Gas Fireplace, Ceiling Fan, and Surround Sound. Large formal Dining Room. Laundry Room with Cabinets, Washer, and Gas Dryer. Spacious MBR with W/I Closet, Surround Sound, and City/Strip View. All 3 Bathrooms have been updated and are gorgeous! Backyard paradise with custom Pool & Spa with Waterfalls (patio furniture and BBQ stay!) Retractable Awning, gas BBQ Stub, and beautiful low maintenance landscaping. Other features include Alarm System, Raised Panel Doors w/Lever Handles, Custom Paint, Water Softener, much more!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Green Valley Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k396k

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

Neighborhood: Green Valley Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10802045

* 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
John Vanderburg Elementary School Primary Regular 929 45 10
Bob Miller Middle School Middle Regular 1,600 59 NA
Coronado High School High Regular 3,240 124 10

John Vanderburg Elementary School

  • Education Level: Primary
  • # of students: 929
  • # of teachers: 45
10
GreatSchools Rating

Bob Miller Middle School

  • Education Level: Middle
  • # of students: 1,600
  • # of teachers: 59
NA
GreatSchools Rating

Coronado High School

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

$466,920$570,680$518,800

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,914
Property Tax -$303
Property Insurance -$79
Property Management Fees -$119
CASH FLOW
-$195

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.

$518,800

PROJECTED PRICE

$2,220

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.1%
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$1.8M

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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$143,232

INVESTMENT

$143,232

Down Payment
$129,700
Rehab Estimate
$5,750
Closing Costs
$7,782

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,914

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $129,700
Loan Amount $389,100
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$24,091

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,259

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1003$2,2004$2,2205$2,295
$2,295
RENT COMPS ANALYSIS
  • 2248 Verde Cape Avenue Henderson, NV 4
    • 4 beds 1 baths ∙ 2,673 Sqft ∙ Built 1999 4 beds 1 baths ∙ 2,673 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.83
    •  
  • 2260 Early Frost Avenue Henderson, NV 1
    • 3 beds 3 baths ∙ 2,509 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,509 Sqft ∙ Built 1997
    property image
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.80
    •  
  • 495 Cape Alan Drive Henderson, NV 2
    • 4 beds 2 baths ∙ 2,673 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,673 Sqft ∙ Built 1999
    property image
    LEASED 10/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.79
    •  
  • 511 First Light Street Henderson, NV 3
    • 4 beds 2 baths ∙ 2,503 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,503 Sqft ∙ Built 1998
    property image
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.88
    •  
  • 502 Short Crest Court Henderson, NV 5
    • 5 beds 2 baths ∙ 2,532 Sqft ∙ Built 1999 5 beds 2 baths ∙ 2,532 Sqft ∙ Built 1999
    property image
    LEASED 07/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.91
    •  
PROPERTY LISTING DETAILS
Laura E Harbison
1.702.777.1234
Realty Executives Southern
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2250678
Last Updated: 11/28/2020
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