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2407 Alpine Meadows Avenue Henderson, NV 89074

5 Beds 2 Baths 3,788 sqft Built 1994

$540,000

List Price

$2,710

$2.5K - $3K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $142.56
  • 3 Days on Market
  • MLS # : 2250940
  • Updated Date : 11/27/2020 at 13:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,788 sqft
  • Baths : 2 full
Listing Agent

Simply Vegas

Listing Agent's Description

Impeccable home that looks just as good as the day it was built. This stunning two story home features a spacious formal living room with fireplace, vaulted ceilings and connected formal dining. A spectacular kitchen with granite counters, large center island, beautiful tile backsplash, garden window and builtin professional appliances. The family room is open and airy with loads of natural light, brick fireplace, two builtin wine refrigerators and a wet bar that's wonderful for entertaining. The terraced backyard is peaceful and private with a stamped concrete patio, large mature trees, and professional builtin BBQ. There are 5 spacious bedrooms one being downstairs with its own 3/4 bath, the master suite is up and has a two sided fireplace looking into the ensuite, and the upstairs loft is used as a media room. The sellers are the original owners and pride of ownership is evident throughout every inch of this lovely home.

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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 South

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k362k

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

Neighborhood: Green Valley South

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
David M. Cox Elementary School Primary Regular 625 32 8
Barbara And Hank Greenspun Middle School Middle Regular 1,397 55 NA
Coronado High School High Regular 3,240 124 10

David M. Cox Elementary School

  • Education Level: Primary
  • # of students: 625
  • # of teachers: 32
8
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
 

$486,000$594,000$540,000

PURCHASE PRICE

$2,439$2,981$2,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,710
EXPENSES Loan Payment -$1,992
Property Tax -$306
Property Insurance -$101
Property Management Fees -$119
CASH FLOW
$192

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.

$540,000

PROJECTED PRICE

$2,710

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.9%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k$35k

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$148,850

INVESTMENT

$148,850

Down Payment
$135,000
Rehab Estimate
$5,750
Closing Costs
$8,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,992

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $135,000
Loan Amount $405,000
See What Happens When You Reinvest Cash Flow

7.92

YEARS SAVED

$65,241

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,710

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $3,021

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,7103$3,0754$3,1005$3,100
$3,100
RENT COMPS ANALYSIS
  • 2407 Alpine Meadows Avenue Henderson, NV 2
    • 5 beds 2 baths ∙ 3,788 Sqft ∙ Built 1994 5 beds 2 baths ∙ 3,788 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,710
    • $0.72
    •  
  • 2426 Eagleridge Drive Henderson, NV 1
    • 5 beds 3 baths ∙ 3,988 Sqft ∙ Built 1997 5 beds 3 baths ∙ 3,988 Sqft ∙ Built 1997
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.68
    •  
  • 2467 Ping Drive Henderson, NV 3
    • 4 beds 4 baths ∙ 3,642 Sqft ∙ Built 1996 4 beds 4 baths ∙ 3,642 Sqft ∙ Built 1996
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,075
    • $0.84
    •  
  • 2404 Alpine Meadows Avenue Henderson, NV 4
    • 5 beds 3 baths ∙ 3,788 Sqft ∙ Built 1994 5 beds 3 baths ∙ 3,788 Sqft ∙ Built 1994
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.82
    •  
  • 2486 Ram Crossing Way Henderson, NV 5
    • 5 beds 1 baths ∙ 3,656 Sqft ∙ Built 1993 5 beds 1 baths ∙ 3,656 Sqft ∙ Built 1993
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.85
    •  
PROPERTY LISTING DETAILS
Mark L Frye
1.702.496.6094
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2250940
Last Updated: 11/27/2020
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