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505 Calendula Court Henderson, NV 89052

4 Beds 3 Baths 3,024 sqft Built 2002

$650,000

List Price

$2,410

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $214.95
  • 3 Days on Market
  • MLS # : 2274436
  • Updated Date : 03/07/2021 at 00:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,024 sqft
  • Baths : 2 full , 1 half
Listing Agent

Cornel Realty Llc

Listing Agent's Description

A highly desired location that's 1 minute to I-215 or St Rose Parkway, Green Valley Ranch Resort|The District|shopping & restaurants and only 10 mins to The Strip & airports. This spectacular 1-story|4BR|3BA|3 car garage, at the end of a quiet cul-de-sac in a gated community, boasts an incredible wide open floor-plan with a large & open gourmet kitchen opening to dining, living & great rooms (featuring high ceilings, plantation shutters, crown molding, tile & wood flooring, granite counters & stainless appliances). The primary suite is GINORMOUS, including large walk in closet, private bath w/ dual vanities, separate shower/tub, closet & toilet; the suite also includes a private walk out to the rear covered patio. The other 3 BRs are located in a separate wing, w/ one set up as an office. The rear yard is LARGE enough to install a pool/hot tub or modify to your own dreams. Additional pictures & 3D tour to be uploaded 3/6/2021. Trust us, this probably won't last 1 week on the market.

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: Green Valley Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k396k

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

Neighborhood: Green Valley Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10802045

* 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
 

$585,000$715,000$650,000

PURCHASE PRICE

$2,169$2,651$2,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,410
EXPENSES Loan Payment -$2,258
Property Tax -$395
Property Insurance -$86
Property Management Fees -$119
CASH FLOW
-$447

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.

$650,000

PROJECTED PRICE

$2,410

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.1%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,258

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$10,719

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,410

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,298

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,1953$2,2954$2,2955$2,410
$2,410
RENT COMPS ANALYSIS
  • 505 Calendula Court Henderson, NV 5
    • 4 beds 3 baths ∙ 3,024 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,024 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,410
    • $0.80
    •  
  • 503 Short Crest Court Henderson, NV 1
    • 5 beds 2 baths ∙ 2,897 Sqft ∙ Built 1999 5 beds 2 baths ∙ 2,897 Sqft ∙ Built 1999
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.74
    •  
  • 2653 Hourglass Drive Henderson, NV 2
    • 5 beds 2 baths ∙ 3,151 Sqft ∙ Built 2002 5 beds 2 baths ∙ 3,151 Sqft ∙ Built 2002
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.70
    •  
  • 2486 Rye Beach Lane #0 Las Vegas, NV 3
    • 5 beds 3 baths ∙ 2,841 Sqft ∙ Built 1998 5 beds 3 baths ∙ 2,841 Sqft ∙ Built 1998
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.81
    •  
  • 471 Beardsley #471 Henderson, NV 4
    • 4 beds 3 baths ∙ 2,919 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,919 Sqft ∙ Built 2000
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.79
    •  
PROPERTY LISTING DETAILS
Mark E Israelitt
1.702.816.1505
Cornel Realty Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2274436
Last Updated: 03/07/2021
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