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

266 Corvallis Court Henderson, NV 89074

3 Beds 1 Baths 1,266 sqft Built 1997

$335,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $264.61
  • 5 Days on Market
  • MLS # : 2257800
  • Updated Date : 01/02/2021 at 20:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,266 sqft
  • Baths : 1 full
Listing Agent

Elite Realty

Listing Agent's Description

PROPERTY IS LOCATED IN CUL-DE-SAC*SECURED ENTRY*SPACIOUS 3 CAR GARAGE*CABINETS IN LAUNDRY ROOM*POT SHELVING THROUGHOUT HOME*SPACIOUS BEDROOMS*FULL BATH SEPARATE FROM ROOMS*LRG MASTER BEDROOM WITH DOUBLE SINKS, STAND UP SHOWER *CEILING FAN*KITCHEN WITH TONS OF CABINET SPACE, AMPLE COUNTER TOP SPACE * BACKYARD WITH COVERED PATIO

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Gibson Springs

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $121k340k

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

Neighborhood: Gibson Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10801825

* 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
Lorna J. Kesterson Elementary School Primary Regular 653 31 9
Barbara And Hank Greenspun Middle School Middle Regular 1,397 55 NA
Green Valley High School High Regular 3,092 122 9

Lorna J. Kesterson Elementary School

  • Education Level: Primary
  • # of students: 653
  • # of teachers: 31
9
GreatSchools Rating

Barbara And Hank Greenspun Middle School

  • Education Level: Middle
  • # of students: 1,397
  • # of teachers: 55
NA
GreatSchools Rating

Green Valley High School

  • Education Level: High
  • # of students: 3,092
  • # of teachers: 122
9
GreatSchools Rating
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$1,236
Property Tax -$183
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
-$99

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.

$335,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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$0.0$5.0k$10k$15k

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$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$17,814

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $1,291

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4803$1,4904$1,4955$1,500
$1,500
RENT COMPS ANALYSIS
  • 266 Corvallis Court Henderson, NV 3
    • 3 beds 1 baths ∙ 1,266 Sqft ∙ Built 1997 3 beds 1 baths ∙ 1,266 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $1.18
    •  
  • 1440 Red Sunset Henderson, NV 1
    • 3 beds 2 baths ∙ 1,443 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,443 Sqft ∙ Built 1998
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.97
    •  
  • 214 Roxborough Street Henderson, NV 2
    • 3 beds 2 baths ∙ 1,438 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,438 Sqft ∙ Built 1999
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $1.03
    •  
  • 273 Cascading Henderson, NV 4
    • 3 beds 2 baths ∙ 1,443 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,443 Sqft ∙ Built 1998
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.04
    •  
  • 1416 Still Creek Avenue Henderson, NV 5
    • 3 beds 2 baths ∙ 1,443 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,443 Sqft ∙ Built 1998
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.04
    •  
PROPERTY LISTING DETAILS
Kristina Gogo
1.702.275.2540
Elite Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2257800
Last Updated: 01/02/2021
BESbswy