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4005 Coleman Street North Las Vegas, NV 89032

4 Beds 3 Baths 2,338 sqft Built 2008

$335,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $143.28
  • 5 Days on Market
  • MLS # : 2266204
  • Updated Date : 02/05/2021 at 21:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,338 sqft
  • Baths : 3 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Beautiful 2 Story Home on a Premium Corner Lot, Large Backyard with newly Refreshed Desert Landscape, well Insulated Home, Iron Entry Gate, Shutters throughout common area, Amazingly large Balcony, Upgraded Dual Patio, Upgraded Stair Railing, Open Kitchen with Granite Countertops and Island, Stainless Steel Kitchen Appliances, Vinyl & Engineered Wood Floorings, Open and Spacious Floor Plan, conveniently located near Schools, Shopping, Restaurants and Freeway Access. Refrigerator, Washer and Dryer will convey with property.

SEE MORE

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: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
Richard C. Priest Elementary School Primary Regular 780 44 3
Theron L. Swainston Middle School Middle Regular 1,146 52 NA
Cheyenne High School High Regular 2,212 91 2

Richard C. Priest Elementary School

  • Education Level: Primary
  • # of students: 780
  • # of teachers: 44
3
GreatSchools Rating

Theron L. Swainston Middle School

  • Education Level: Middle
  • # of students: 1,146
  • # of teachers: 52
NA
GreatSchools Rating

Cheyenne High School

  • Education Level: High
  • # of students: 2,212
  • # of teachers: 91
2
GreatSchools Rating
 

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

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,164
Property Tax -$272
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
$63

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$335,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.1%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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

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 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,164

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$23,610

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,818

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,690
1$1,6902$1,6953$1,7004$1,7755$1,895
$1,895
RENT COMPS ANALYSIS
  • 4005 Coleman Street North Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,338 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,338 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.72
    •  
  • 2520 Rainy Meadows Avenue North Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 2019
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.77
    •  
  • 3513 Fishers Landing Avenue North Las Vegas, NV 3
    • 4 beds 1 baths ∙ 2,222 Sqft ∙ Built 2003 4 beds 1 baths ∙ 2,222 Sqft ∙ Built 2003
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.77
    •  
  • 3694 Blake Canyon Drive North Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,480 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,480 Sqft ∙ Built 2008
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.72
    •  
  • 3625 Newton Falls Street North Las Vegas, NV 5
    • 5 beds 3 baths ∙ 2,222 Sqft ∙ Built 2003 5 beds 3 baths ∙ 2,222 Sqft ∙ Built 2003
    LEASED 01/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.85
    •  
PROPERTY LISTING DETAILS
Jeanette H Cruz
1.702.682.7770
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2266204
Last Updated: 02/05/2021
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