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4040 Coburn Street North Las Vegas, NV 89032

2 Beds 2 Baths 1,485 sqft Built 2002

$255,000

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $171.72
  • 4 Days on Market
  • MLS # : 2259896
  • Updated Date : 01/08/2021 at 11:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,485 sqft
  • Baths : 2 full
Listing Agent

Summit Properties

Listing Agent's Description

Amazing opportunity to own this gorgeous single-story home with lots of upgrades! Featuring an open floor plan with 2 bedrooms and a den/possible 3rd bedroom, 2 full baths, and a 2-car garage. Large living room with tile flooring and surround sound speakers on the ceiling. Spacious kitchen with garden window, breakfast bar, solid counter tops, and all appliances included. Ceiling fans in all bedrooms, new water heater and garage opener. Smart thermostat system. Spacious primary suite with walk-in closet and access to the relaxing backyard with covered patio and shed. Primary bathroom with separate tub and shower. Fully-fenced front and back yards with beautifully manicured landscaping, synthetic grass, rose gardens, and trees. Located near parks, golf course, recreation, restaurants, and shopping! Come see it today!!

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: Brentwood

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $84k306k

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

Neighborhood: Brentwood

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
Dr Claude Perkins Elementary School Primary Regular 682 40 4
Marvin M Sedway Middle School Middle Regular 1,514 52 NA
Canyon Springs High School High Magnet 2,791 114 2

Dr Claude Perkins Elementary School

  • Education Level: Primary
  • # of students: 682
  • # of teachers: 40
4
GreatSchools Rating

Marvin M Sedway Middle School

  • Education Level: Middle
  • # of students: 1,514
  • # of teachers: 52
NA
GreatSchools Rating

Canyon Springs High School

  • Education Level: High
  • # of students: 2,791
  • # of teachers: 114
2
GreatSchools Rating
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$886
Property Tax -$212
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
$58

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.

$255,000

PROJECTED PRICE

$1,330

PROJECTED RENT

0.52%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$18,790

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,325

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,1003$1,1004$1,3305$1,450
$1,450
RENT COMPS ANALYSIS
  • 4040 Coburn Street North Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,485 Sqft ∙ Built 2002 2 beds 2 baths ∙ 1,485 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $0.90
    •  
  • 415 Westminster Hall Avenue #3 North Las Vegas, NV 1
    • 2 beds 2 baths ∙ 1,220 Sqft ∙ Built 2006 2 beds 2 baths ∙ 1,220 Sqft ∙ Built 2006
    property image
    LEASED 09/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.90
    •  
  • 335 Kensington Palace Avenue #103 North Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,220 Sqft ∙ Built 2006 2 beds 2 baths ∙ 1,220 Sqft ∙ Built 2006
    property image
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.90
    •  
  • 395 Kensington Palace #3 North Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,220 Sqft ∙ Built 2006 2 beds 2 baths ∙ 1,220 Sqft ∙ Built 2006
    property image
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.90
    •  
  • 3713 Birchdale Court North Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,660 Sqft ∙ Built 1995 2 beds 2 baths ∙ 1,660 Sqft ∙ Built 1995
    property image
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.87
    •  
PROPERTY LISTING DETAILS
Alexey Prieto
1.702.274.7190
Summit Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2259896
Last Updated: 01/08/2021
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