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426 Coral Sea Street Henderson, NV 89074

4 Beds 2 Baths 2,548 sqft Built 1996

$479,000

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $187.99
  • 13 Days on Market
  • MLS # : 2248347
  • Updated Date : 11/19/2020 at 18:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,548 sqft
  • Baths : 1 full , 1 half
Listing Agent

Compass Realty & Management, L

Listing Agent's Description

back on the market- the lowest price in Southfork for a single story of this size and quality!!$29000 in upgrades! floors are Brazilian cherry hardwood and travertine tile in kitchen and bathrooms. Kitchen cabinets all have EASY PULL OUT SHELVES and granite counter tops. LARGE WALK-IN PANTRY.Custom designed office/study/den with 2 sided fireplace to family room. 2end bedroom is a master bedroom with its own door outside to the street. ( Great for guests and older family members) Tremendous amount of shelving in garage and overhead bike racks. French doors to a LARGE COVERED PATIO from family room. Water efficient desert landscaping in both front and back yards.. Possibly the best shopping street in the valley just 1 block away to the west on Eastern . Cactus Wren park is just 2 blocks to the east by walking trail. Possibly the best jr. high and high schools district in Nevada.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Southfork

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k393k

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

Neighborhood: Southfork

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10802255

* 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
Glen C. Taylor Elementary School Primary Regular 961 46 9
Bob Miller Middle School Middle Regular 1,600 59 NA
Coronado High School High Regular 3,240 124 10

Glen C. Taylor Elementary School

  • Education Level: Primary
  • # of students: 961
  • # of teachers: 46
9
GreatSchools Rating

Bob Miller Middle School

  • Education Level: Middle
  • # of students: 1,600
  • # of teachers: 59
NA
GreatSchools Rating

Coronado High School

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

$431,100$526,900$479,000

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,767
Property Tax -$297
Property Insurance -$77
Property Management Fees -$119
CASH FLOW
-$200

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.

$479,000

PROJECTED PRICE

$2,060

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.0%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,685

INVESTMENT

$132,685

Down Payment
$119,750
Rehab Estimate
$5,750
Closing Costs
$7,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,767

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $119,750
Loan Amount $359,250
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$20,543

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,223

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,0503$2,0604$2,1355$2,400
$2,400
RENT COMPS ANALYSIS
  • 426 Coral Sea Street Henderson, NV 3
    • 4 beds 2 baths ∙ 2,548 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,548 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.81
    •  
  • 2553 Pyramid Pines Drive Henderson, NV 1
    • 3 beds 2 baths ∙ 2,410 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,410 Sqft ∙ Built 1999
    property image
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.85
    •  
  • 9791 Silver Dew Street Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,259 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,259 Sqft ∙ Built 1998
    property image
    LEASED 08/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.91
    •  
  • 9361 Lugo Street Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,570 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,570 Sqft ∙ Built 1996
    property image
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,135
    • $0.83
    •  
  • 2142 Gypsy Bell Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,657 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,657 Sqft ∙ Built 1997
    property image
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.90
    •  
PROPERTY LISTING DETAILS
Steven Shluker
1.702.994.4849
Compass Realty & Management, L
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2248347
Last Updated: 11/19/2020
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