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504 Sterling Falls Avenue Henderson, NV 89011

2 Beds 2 Baths 2,249 sqft Built 2016

$498,888

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $221.83
  • 4 Days on Market
  • MLS # : 2273209
  • Updated Date : 03/06/2021 at 23:18
CONSTRUCTION
  • Beds : 2
  • Floor Size : 2,249 sqft
  • Baths : 2 full
Listing Agent

Redfin

Listing Agent's Description

Nearly new MODEL-LIKE, UPGRADED, TURN KEY HOME in the 55+ Guard Gated Community of Heritage at Cadence! This well-maintained, beautiful home includes the following features; Chef's Kitchen w/newer high-end Stainless Steel Appliances & oversized Granite Island*10 FT Ceilings & 8 FT Doors*3 Sliding Glass Doors found in the Great Room & Dining Room*Upgraded Neutral Tile & Paint *Extensive Pavers @ Porch, Driveway, & Backyard*Entertainers oversized Patio w/Gas Fireplace, Television & Views*New Shutters & Cabinet Rollouts*Flexspace ideas; Den/Office/3rd Bedroom/Game Room*Custom Cabinets & Epoxy Floor in Garage*Spacious Laundry Room w/Sink & extensive storage*Water Softener & Filtration System*Designer Ceiling Fans*Professionally landscaped w/low voltage Lighting & low maintenance Foliage*Primary Suite features a door leading to Patio, oversized Closet & Spa-like bathroom w/Walk-In Shower*RING System*Only 1/2 block to the State-of-the-Art Heritage Clubhouse*Tour this Truly AMAZING HOME NOW!

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: Heritage at Cadence

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $121k340k

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

Neighborhood: Heritage at Cadence

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10801825

* 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
C.t. Sewell Elementary School Primary Regular 833 41 8
B. Mahlon Brown Junior High School Middle Regular 978 46 NA
Basic High School High Regular 2,367 100 3

C.t. Sewell Elementary School

  • Education Level: Primary
  • # of students: 833
  • # of teachers: 41
8
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
 

$448,999$548,777$498,888

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,733
Property Tax -$339
Property Insurance -$71
Property Management Fees -$119
CASH FLOW
-$352

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.

$498,888

PROJECTED PRICE

$1,910

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.2%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$137,955

INVESTMENT

$137,955

Down Payment
$124,722
Rehab Estimate
$5,750
Closing Costs
$7,483

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,733

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,722
Loan Amount $374,166
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$7,484

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,912

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7203$1,8004$1,910
$1,910
RENT COMPS ANALYSIS
  • 504 Sterling Falls Avenue Henderson, NV 4
    • 2 beds 2 baths ∙ 2,249 Sqft ∙ Built 2016 2 beds 2 baths ∙ 2,249 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.85
    •  
  • 735 Orange Plume Walk Henderson, NV 1
    • 2 beds 2 baths ∙ 1,995 Sqft ∙ Built 2018 2 beds 2 baths ∙ 1,995 Sqft ∙ Built 2018
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.83
    •  
  • 472 Via Stretto Avenue #0 Henderson, NV 2
    • 2 beds 3 baths ∙ 2,039 Sqft ∙ Built 2006 2 beds 3 baths ∙ 2,039 Sqft ∙ Built 2006
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.84
    •  
  • 726 Orange Plume Henderson, NV 3
    • 2 beds 3 baths ∙ 2,044 Sqft ∙ Built 2017 2 beds 3 baths ∙ 2,044 Sqft ∙ Built 2017
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.88
    •  
PROPERTY LISTING DETAILS
Jennifer L Brockman
1.702.467.0909
Redfin
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2273209
Last Updated: 03/06/2021
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