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4009 Coleman Street North Las Vegas, NV 89032

4 Beds 3 Baths 2,948 sqft Built 2008

$345,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $117.03
  • 3 Days on Market
  • MLS # : 2250006
  • Updated Date : 11/28/2020 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,948 sqft
  • Baths : 3 full
Listing Agent

Win Win Real Estate

Listing Agent's Description

Over 2900 square feet with large kitchen area. Four bedroom home in need of TLC and waiting for your touches.

SEE MORE

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: 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
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,273
Property Tax -$296
Property Insurance -$84
Property Management Fees -$119
CASH FLOW
-$32

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.

$345,000

PROJECTED PRICE

$1,740

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$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,273

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

4.75

YEARS SAVED

$19,931

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.59

    LIST RENT PER SQFT
  • $1,732

    COMP ESTIMATED VALUE
  • $0.59

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,7003$1,7404$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 4009 Coleman Street North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,948 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,948 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.59
    •  
  • 4004 Daydream Bend Street #0 North Las Vegas, NV 1
    • 3 beds 4 baths ∙ 2,625 Sqft ∙ Built 2007 3 beds 4 baths ∙ 2,625 Sqft ∙ Built 2007
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.59
    •  
  • 2402 Endearing Court North Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,948 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,948 Sqft ∙ Built 2015
    property image
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.58
    •  
  • 2512 West San Miguel Avenue #- North Las Vegas, NV 4
    • 5 beds 3 baths ∙ 3,079 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,079 Sqft ∙ Built 2006
    property image
    LEASED 08/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.58
    •  
  • 4133 Karma Drive North Las Vegas, NV 5
    • 4 beds 2 baths ∙ 3,072 Sqft ∙ Built 2005 4 beds 2 baths ∙ 3,072 Sqft ∙ Built 2005
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.60
    •  
PROPERTY LISTING DETAILS
Jennie L Holder
1.702.812.0180
Win Win Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2250006
Last Updated: 11/28/2020
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