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2436 Ping Drive Drive Henderson, NV 89074

6 Beds 5 Baths 4,137 sqft Built 1997

INVESTimate

$619,000

List Price

$3,190

$2,940 - $3,440

Rent Est.

$673,967  ( +8.88%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $149.63
  • 6 Days on Market
  • MLS # : 2221926
  • Updated Date : 08/24/2020 at 09:25
CONSTRUCTION
  • Beds : 6
  • Floor Size : 4,137 sqft
  • Baths : 4 full , 1 half
Listing Agent

Century 21 Americana

Listing Agent's Description

WOW! GUARD GATED HENDERSON LEGACY GOLF COURSE COMMUNITY * RARE CHRISTOPHER HOME DESIGN -ELEGANT entrance with dramatic staircase. Newer water heather and water-softener in garage. MASTER SUITE W/ SITTING AREA* Master Bath w/separate Sinks & 2 separate Toilets & closets* KITCHEN W/ ISLAND & BREAKFAST BAR*Family room & formal living room. Dinette and formal dining area. Pool and Spa. Big size bedroom and full bathroom downstairs. Garage has over head storage. Need a little TLC-painting. -home warranty offered up till $550.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

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
 

$557,100$680,900$619,000

PURCHASE PRICE

$2,871$3,509$3,190

RENT

DOWN PAYMENT
FINANCING

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$500k$1.0M$1.5M$2.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,190
EXPENSES Loan Payment -$2,284
Property Tax -$422
Property Insurance -$107
HOA -$125
Property Management Fees -$119
CASH FLOW
$133

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.

$619,000

PROJECTED PRICE

$3,190

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.88%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$169,785

INVESTMENT

$169,785

Down Payment
$154,750
Rehab Estimate
$5,750
Closing Costs
$9,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$2,284

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $154,750
Loan Amount $464,250
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$62,232

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,190

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $3,299

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$3,100
1$3,1002$3,1003$3,1904$3,2005$3,400
$3,400
RENT COMPS ANALYSIS
  • 2436 Ping Drive Drive Henderson, NV 3
    • 6 beds 5 baths ∙ 4,137 Sqft ∙ Built 1997 6 beds 5 baths ∙ 4,137 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $3,190
    • $0.77
    •  
  • 2404 Alpine Meadows Avenue Henderson, NV 1
    • 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
    •  
  • 2402 Legacy Island Circle Henderson, NV 2
    • 5 beds 4 baths ∙ 3,988 Sqft ∙ Built 1996 5 beds 4 baths ∙ 3,988 Sqft ∙ Built 1996
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.78
    •  
  • 2440 Legacy Island Circle Henderson, NV 4
    • 5 beds 3 baths ∙ 3,988 Sqft ∙ Built 1996 5 beds 3 baths ∙ 3,988 Sqft ∙ Built 1996
    LEASED 11/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.80
    •  
  • 1925 Grey Eagle Henderson, NV 5
    • 5 beds 4 baths ∙ 4,281 Sqft ∙ Built 1996 5 beds 4 baths ∙ 4,281 Sqft ∙ Built 1996
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $0.79
    •  
PROPERTY LISTING DETAILS
Agnes Kolos
1.702.283.9588
Century 21 Americana
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2221926
Last Updated: 08/24/2020
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