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2517 Cortina Avenue Henderson, NV 89074

4 Beds 3 Baths 1,990 sqft Built 1990

$399,000

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $200.50
  • 5 Days on Market
  • MLS # : 2274695
  • Updated Date : 03/06/2021 at 23:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,990 sqft
  • Baths : 2 full , 1 half
Listing Agent

Black & Cherry Real Estate

Listing Agent's Description

ABSOLUTE STUNNER. 4 beds, 2,5 baths, 2 car garage, spacious floor plan, wood laminate floors, tile, open kitchen w/ granite counters, 2 separate family rooms, plantation shutters, cozy fireplace, master bedroom w/ walk in closet, master bath w/ soaking jet tub, separate shower, dual sinks, washer/dryer, water softener, private yard w/ sparkling pool, desert landscaping, located near top ranked schools, shopping, dining & entertainment.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$359,100$438,900$399,000

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,386
Property Tax -$201
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
$108

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.

$399,000

PROJECTED PRICE

$1,880

PROJECTED RENT

0.47%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,386

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$37,531

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,692

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7003$1,7354$1,8255$1,880
$1,880
RENT COMPS ANALYSIS
  • 2517 Cortina Avenue Henderson, NV 5
    • 4 beds 3 baths ∙ 1,990 Sqft ∙ Built 1990 4 beds 3 baths ∙ 1,990 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.94
    •  
  • 93 Myrtle Beach Drive Henderson, NV 1
    • 3 beds 3 baths ∙ 1,841 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,841 Sqft ∙ Built 1996
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
  • 59 Moonrise Way Henderson, NV 2
    • 4 beds 3 baths ∙ 1,990 Sqft ∙ Built 1990 4 beds 3 baths ∙ 1,990 Sqft ∙ Built 1990
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.85
    •  
  • 16 Oak Hollow Court Henderson, NV 3
    • 3 beds 2 baths ∙ 2,190 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,190 Sqft ∙ Built 1995
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,735
    • $0.79
    •  
  • 55 Westheimer Henderson, NV 4
    • 3 beds 3 baths ∙ 2,113 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,113 Sqft ∙ Built 1987
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.86
    •  
PROPERTY LISTING DETAILS
Eloff E Perez
1.702.677.0558
Black & Cherry Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2274695
Last Updated: 03/06/2021
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