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269 Crimson Edge Street Henderson, NV 89012

4 Beds 5 Baths 2,970 sqft Built 2018

INVESTimate

$699,999

List Price

$2,480

$2,232 - $2,728

Rent Est.

$766,709  ( +9.53%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2018
  • Price/Sqft : $235.69
  • 9 Days on Market
  • MLS # : 2222805
  • Updated Date : 08/25/2020 at 13:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,970 sqft
  • Baths : 4 full , 1 half
Listing Agent

Luxe Estates & Lifestyles Llc

Listing Agent's Description

WOW!!! This IMMACULATE home boasts almost 3000 square feet of upgrades! You'll find motorized window coverings throughout, plantation shutters, custom closets and pantry, pre-wired for surround sound, stunning cabinets and counters, plush backyard, several balconies and breathtaking strip views off the rooftop patio!! This beauty has 3 bedrooms in the main house with a serene courtyard that leads to the casita/4th bedroom and full bathroom. The master retreat is so spacious with its own balcony and more strip views. You will not be disappointed with this exquisite listing!

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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: McCullough Hills

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k366k

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

Neighborhood: McCullough Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10801914

* 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
Ulis Newton Elementary School Primary Regular 611 35 7
Jack And Terry Mannion Middle School Middle Regular 1,523 62 NA
Foothill High School High Regular 2,883 109 7

Ulis Newton Elementary School

  • Education Level: Primary
  • # of students: 611
  • # of teachers: 35
7
GreatSchools Rating

Jack And Terry Mannion Middle School

  • Education Level: Middle
  • # of students: 1,523
  • # of teachers: 62
NA
GreatSchools Rating

Foothill High School

  • Education Level: High
  • # of students: 2,883
  • # of teachers: 109
7
GreatSchools Rating
 

$629,999$769,999$699,999

PURCHASE PRICE

$2,232$2,728$2,480

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-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

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 $2,480
EXPENSES Loan Payment -$2,583
Property Tax -$498
Property Insurance -$85
HOA -$105
Property Management Fees -$119
CASH FLOW
-$909

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.

$699,999

PROJECTED PRICE

$2,480

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.53%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$191,250

INVESTMENT

$191,250

Down Payment
$175,000
Rehab Estimate
$5,750
Closing Costs
$10,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,583

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $175,000
Loan Amount $524,999
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$807

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,480

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,450

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,3003$2,4504$2,4805$2,750
$2,750
RENT COMPS ANALYSIS
  • 269 Crimson Edge Street Henderson, NV 4
    • 4 beds 5 baths ∙ 2,970 Sqft ∙ Built 2018 4 beds 5 baths ∙ 2,970 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,480
    • $0.84
    •  
  • 229 Amber Bluff Street Henderson, NV 1
    • 4 beds 3 baths ∙ 3,120 Sqft ∙ Built 2014 4 beds 3 baths ∙ 3,120 Sqft ∙ Built 2014
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.72
    •  
  • 816 Applecross Henderson, NV 2
    • 4 beds 3 baths ∙ 2,793 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,793 Sqft ∙ Built 2013
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.82
    •  
  • 817 Motherwell Avenue Henderson, NV 3
    • 4 beds 3 baths ∙ 2,793 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,793 Sqft ∙ Built 2013
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.88
    •  
  • 213 Amber Bluff Street Henderson, NV 5
    • 4 beds 3 baths ∙ 3,120 Sqft ∙ Built 2018 4 beds 3 baths ∙ 3,120 Sqft ∙ Built 2018
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.88
    •  
PROPERTY LISTING DETAILS
Patricia Georges
1.702.900.7305
Luxe Estates & Lifestyles Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222805
Last Updated: 08/25/2020
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