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2878 Shining Sun Way Henderson, NV 89052

4 Beds 3 Baths 2,479 sqft Built 2015

INVESTimate

$539,000

List Price

$2,240

$2,016 - $2,464

Rent Est.

$575,706  ( +6.81%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $217.43
  • 6 Days on Market
  • MLS # : 2224004
  • Updated Date : 08/25/2020 at 10:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,479 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Immaculate home in Sunridge Heights! Pool size lot offers outdoor living at its best! Front entry features covered patio and synthetic grass sitting area and beautiful shade tree! The rear yard has patio with fireplace, surrounded by stone front planter, Koi pond and over 1500 square feet of synthetic grass; most of it shaded by mature trees! Home features private Casita for guests, large loft and spacious kitchen. High end vinyl plank blankets the first floor living area offering easy care and low maintenance. Additional windows added in the dining area allow this home to have some of the best natural lighting in the great room living area! And lastly, the patriotic colors in the garage create the perfect atmosphere for a home gym! Priced to sell!

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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: Seven Hills

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k479k

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

Neighborhood: Seven Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10802338

* 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
Elise L. Wolff Elementary School Primary Regular 935 46 10
Del E Webb Middle School Middle Regular 1,863 74 NA
Coronado High School High Regular 3,240 124 10

Elise L. Wolff Elementary School

  • Education Level: Primary
  • # of students: 935
  • # of teachers: 46
10
GreatSchools Rating

Del E Webb Middle School

  • Education Level: Middle
  • # of students: 1,863
  • # of teachers: 74
NA
GreatSchools Rating

Coronado High School

  • Education Level: High
  • # of students: 3,240
  • # of teachers: 124
10
GreatSchools Rating
 

$485,100$592,900$539,000

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$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$1.4M$1.6M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,989
Property Tax -$409
Property Insurance -$75
HOA -$63
Property Management Fees -$119
CASH FLOW
-$414

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.

$539,000

PROJECTED PRICE

$2,240

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 6.81%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$148,585

INVESTMENT

$148,585

Down Payment
$134,750
Rehab Estimate
$5,750
Closing Costs
$8,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,989

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $134,750
Loan Amount $404,250
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$9,072

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,268

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,2003$2,2404$2,2505$2,350
$2,350
RENT COMPS ANALYSIS
  • 2878 Shining Sun Way Henderson, NV 3
    • 4 beds 4 baths ∙ 2,479 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,479 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $0.90
    •  
  • 933 Wagner Valley Street Henderson, NV 1
    • 4 beds 4 baths ∙ 2,407 Sqft ∙ Built 2009 4 beds 4 baths ∙ 2,407 Sqft ∙ Built 2009
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.83
    •  
  • 932 Keesey Henderson, NV 2
    • 4 beds 3 baths ∙ 2,410 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,410 Sqft ∙ Built 2018
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.91
    •  
  • 3004 Paseo Hills Way Henderson, NV 4
    • 4 beds 3 baths ∙ 2,409 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,409 Sqft ∙ Built 1998
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.93
    •  
  • 2724 Woodflower Avenue Henderson, NV 5
    • 3 beds 2 baths ∙ 2,369 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,369 Sqft ∙ Built 1999
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.99
    •  
PROPERTY LISTING DETAILS
Thomas E Fraley
1.702.400.8816
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224004
Last Updated: 08/25/2020
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