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38 Costa Tropical Drive Henderson, NV 89011

3 Beds 4 Baths 2,783 sqft Built 2019

$1,100,000

List Price

$2,890

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $395.26
  • 3 Days on Market
  • MLS # : 2277890
  • Updated Date : 03/13/2021 at 17:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,783 sqft
  • Baths : 3 full , 1 half
Listing Agent

Synergy Sothebys Int'l Realty

Listing Agent's Description

Experience modern luxury in this single-story contemporary home with breathtaking views. Curb-side appeal extends inside with a look of modern sophistication. High ceilings and well-lit open spaces fill the home. It’s elegant decor makes this a gem in LLV's Monte Lucca neighborhood. Recessed lighting, porcelain tile flooring, and beautiful fireplace create a welcoming ambiance. The kitchen's fine cabinetry, stainless steel appliances, builtin ovens, wine refrigerator, and a finished large island make it a perfect environment for entertaining. Relish in a spectacular master suite, with spa bathroom, outstanding office / zoom room and walk-in closet. The backyard renderings are the work in process and will be ready to be your oasis. This home also features a 3-car garage, and includes a $10,000 sports club membership.

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: Lake Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $123k449k

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

Neighborhood: Lake Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10803087

* 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
Josh Stevens Elementary School Primary Unknown NA
B. Mahlon Brown Junior High School Middle Regular 978 46 NA
Basic High School High Regular 2,367 100 3

Josh Stevens Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

B. Mahlon Brown Junior High School

  • Education Level: Middle
  • # of students: 978
  • # of teachers: 46
NA
GreatSchools Rating

Basic High School

  • Education Level: High
  • # of students: 2,367
  • # of teachers: 100
3
GreatSchools Rating
 

$990,000$1,210,000$1,100,000

PURCHASE PRICE

$2,601$3,179$2,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,890
EXPENSES Loan Payment -$3,821
Property Tax -$619
Property Insurance -$81
Property Management Fees -$119
CASH FLOW
-$1,750

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.

$1,100,000

PROJECTED PRICE

$2,890

PROJECTED RENT

0.26%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.7%
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$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$297,250

INVESTMENT

$297,250

Down Payment
$275,000
Rehab Estimate
$5,750
Closing Costs
$16,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$3,821

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $275,000
Loan Amount $825,000
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$108

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,890

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $2,950

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$2,890
1$2,8902$2,9703$3,0004$3,200
$3,200
RENT COMPS ANALYSIS
  • 38 Costa Tropical Drive Henderson, NV 1
    • 3 beds 4 baths ∙ 2,783 Sqft ∙ Built 2019 3 beds 4 baths ∙ 2,783 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,890
    • $1.04
    •  
  • 23 Villa Marsala Court Henderson, NV 2
    • 4 beds 4 baths ∙ 3,065 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,065 Sqft ∙ Built 2006
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,970
    • $0.97
    •  
  • 20 Via Levanzo Henderson, NV 3
    • 4 beds 4 baths ∙ 2,710 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,710 Sqft ∙ Built 2019
    property image
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.11
    •  
  • 52 Via Paradiso Henderson, NV 4
    • 4 beds 5 baths ∙ 2,915 Sqft ∙ Built 1999 4 beds 5 baths ∙ 2,915 Sqft ∙ Built 1999
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.10
    •  
PROPERTY LISTING DETAILS
Gene Northup
1.702.497.0300
Synergy Sothebys Int'l Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2277890
Last Updated: 03/13/2021
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