Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2248 Verde Cape Avenue Henderson, NV 89052

4 Beds 1 Baths 2,673 sqft Built 1999

$529,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1999
  • Price/Sqft : $197.90
  • 11 Days on Market
  • MLS # : 2241480
  • Updated Date : 11/02/2020 at 16:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,673 sqft
  • Baths : 1 full
Listing Agent

Nicklin Prop Mgmt & Inv Inc

Listing Agent's Description

THIS IS ONE OF THOSE HOMES WITH SO MANY AMAZING FEATURES THAT THEY CAN’T ALL BE DESCRIBED HERE!YOU NEED TO SEE IT FOR YOURSELF.TRAVERTINE FLOORING THROUGHOUT ENTIRE DOWNSTAIRS,CEILINGS SOAR 2 STORIES,STEP UP ACCESS TO FORMAL DINING RM&FULLY EQUIPPED ISLAND KITCHEN.STEP DOWN FAM RM ADJACENT THE KITCHEN W/GAS FIREPLACE & LARGE MEDIA NICHE. BONUS RM DEAL FOR DEN, OFFICE.HEATED SELF-CLEANING POOL & SPA W/WATERFALL ARE SO WELL DESIGNED,INCL 4 SEP PUMPS. UNIQUE GOLD INLAYS IN THE POOL & SPA MAKE A SPARKLING STATEMENT.PATIO FURNITURE & BBQ STAY. SO YOU CAN ENJOY THIS FABULOUS BACK YARD RIGHT AWAY!ALL BATHS JUST REMODELED W/GRANITE COUNTERS,EXQUISITE SINKS,FIXTURES. HUGE UPSTAIRS MASTER OFFERS A WONDERFUL RETREAT AT THE END OF THE DAY-EVEN SOME CITY VIEWS.3 ADD'L UPSTAIRS BEDROOMS SEPARATE FROM MASTER.IDEAL HOME FOR RELAXATION OR ENTERTAINING FRIENDS,FAMILY.SO MANY EXTRAS-SURROUND SOUND, LIGHTED CEILING FANS&MORE!DON’T LET THIS ONE SLIP AWAY!BUYER TO VERIFY ALL INFO&SCHOOLS-K-5 SHARE BOUNDARY.

SEE MORE

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
 

$476,100$581,900$529,000

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 -$1,952
Property Tax -$303
Property Insurance -$79
HOA -$20
Property Management Fees -$119
CASH FLOW
-$253

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.

$529,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.42%

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$145,935

INVESTMENT

$145,935

Down Payment
$132,250
Rehab Estimate
$5,750
Closing Costs
$7,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,952

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $132,250
Loan Amount $396,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$20,129

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
    • 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
    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
    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
    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
    LEASED 07/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.91
    •  
PROPERTY LISTING DETAILS
Patricia Annis
1.702.533.2949
Nicklin Prop Mgmt & Inv Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2241480
Last Updated: 11/02/2020
BESbswy