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2509 Sea Venture Drive Las Vegas, NV 89128

2 Beds 2 Baths 1,404 sqft Built 1989

$384,900

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 25, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $274.15
  • 7 Days on Market
  • MLS # : 2250216
  • Updated Date : 11/25/2020 at 07:19
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,404 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Sw

Listing Agent's Description

First impressions start curbside as you pull up to a freshly landscaped and painted singly story just two streets away from the tree lined water front that Desert Shores is best known for. As you pass through your courtyard you'll enter your home through the new front door to a bright modernized home with high ceilings and light grey tones throughout. The main living area offers a consistent ceramic wood tile and modern baseboards. The kitchen has updated quartz countertops, refinished cabinets, stainless steel appliances and sink. The owner's suite also received a gorgeous remodel to the more popular oversized walk-in shower and updated shaker cabinet vanity. Your new backyard offers plenty of space to enjoy with friends or family alongside the refinished swim-spa that has lights, heat, and water feature controlled by mobile app. Take your time admiring the finishes throughout, from accent tiles to framed mirrors, ceiling fans, LED recessed lighting, and more. This home has it all!

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: Desert Shores

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Desert Shores

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10761945

* 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
Dorothy Eisenberg Elementary School Primary Regular 609 33 6
Ernest Becker Middle School Middle Regular 1,392 56 NA
Cimarron Memorial High School High Regular 2,541 102 3

Dorothy Eisenberg Elementary School

  • Education Level: Primary
  • # of students: 609
  • # of teachers: 33
6
GreatSchools Rating

Ernest Becker Middle School

  • Education Level: Middle
  • # of students: 1,392
  • # of teachers: 56
NA
GreatSchools Rating

Cimarron Memorial High School

  • Education Level: High
  • # of students: 2,541
  • # of teachers: 102
3
GreatSchools Rating
 

$346,410$423,390$384,900

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$1,420
Property Tax -$182
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
-$426

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.

$384,900

PROJECTED PRICE

$1,350

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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$107,749

INVESTMENT

$107,749

Down Payment
$96,225
Rehab Estimate
$5,750
Closing Costs
$5,774

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,225
Loan Amount $288,675
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$2,493

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,351

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4503$1,4954$1,5005$1,549
$1,549
RENT COMPS ANALYSIS
  • 2509 Sea Venture Drive Las Vegas, NV 1
    • 2 beds 2 baths ∙ 1,404 Sqft ∙ Built 1989 2 beds 2 baths ∙ 1,404 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.96
    •  
  • 2653 Golden Sands Drive Las Vegas, NV 2
    • 2 beds 3 baths ∙ 1,557 Sqft ∙ Built 1990 2 beds 3 baths ∙ 1,557 Sqft ∙ Built 1990
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.93
    •  
  • 2657 Starfish Court Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,557 Sqft ∙ Built 1993 2 beds 2 baths ∙ 1,557 Sqft ∙ Built 1993
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.96
    •  
  • 2512 Golden Sands Drive Las Vegas, NV 4
    • 2 beds 3 baths ∙ 1,553 Sqft ∙ Built 1990 2 beds 3 baths ∙ 1,553 Sqft ∙ Built 1990
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.97
    •  
  • 7824 Surfcrest Court #none Las Vegas, NV 5
    • 2 beds 3 baths ∙ 1,557 Sqft ∙ Built 1989 2 beds 3 baths ∙ 1,557 Sqft ∙ Built 1989
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,549
    • $0.99
    •  
PROPERTY LISTING DETAILS
Mark D Wiley
1.702.499.1915
Keller Williams Realty Sw
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2250216
Last Updated: 11/25/2020
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