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512 Red Shale Court Henderson, NV 89052

3 Beds 3 Baths 2,182 sqft Built 2002

$458,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $209.90
  • 21 Days on Market
  • MLS # : 2277216
  • Updated Date : 03/22/2021 at 18:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,182 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Advantage

Listing Agent's Description

ORIGINAL OWNER HAS METICULOUSLY MAINTAINED THIS HOME LOCATED IN THE HEART OF HENDERSON! SITUATED ON A CUL-DE-SAC THIS HOME FEATURES 3 BEDROOMS AND A SPACIOUS LOFT AS WELL AS 2 1/2 BATHROOMS. ENTRANCE INTO THE STUNNING FORMAL LIVING/DINING ROOM WITH CATHEDRAL CEILINGS AND NEWER UPGRADED FLOORING YOUR EYE IS DRAWN TO DRAMATIC DUAL STAIRCASE! THIS IS A GREAT HOME FOR ENTERTAINING W/A SEPERATE FAMILY ROOM (INCLUDES A GAS FP) AND EAT IN KITCHEN WITH GLASS SLIDERS LEADING TO THE COVERED PATIO OVERLOOKING THE OVERSIZED PROFESSIONALLY LANDSCAPED BACKYARD (LARGE ENOUGH TO ACCOMODATE A SPARKLING POOL)! THE KITCHEN IS WELL APPOINTED WITH A CENTER ISLAND, PANTRY AND EVEN A BUILT-IN DESK/WORK STATION LOCATED RIGHT OFF THE KITCHEN. EVEN THE GARAGE IS WELL MAINTAINED!

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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: 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
 

$412,200$503,800$458,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,591
Property Tax -$242
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
-$21

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.

$458,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.44%

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,120

INVESTMENT

$127,120

Down Payment
$114,500
Rehab Estimate
$5,750
Closing Costs
$6,870

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,591

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $114,500
Loan Amount $343,500
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$29,033

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,182

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9503$2,0004$2,2005$2,200
$2,200
RENT COMPS ANALYSIS
  • 512 Red Shale Court Henderson, NV 3
    • 3 beds 3 baths ∙ 2,182 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,182 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.92
    •  
  • 558 Dusty Palms Lane Henderson, NV 1
    • 3 beds 3 baths ∙ 2,067 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,067 Sqft ∙ Built 2002
    LEASED 01/21/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.92
    •  
  • 749 Feather Ridge Drive #0 Henderson, NV 2
    • 4 beds 4 baths ∙ 2,022 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,022 Sqft ∙ Built 2005
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.96
    •  
  • 2414 Esteem Ridge Drive Henderson, NV 4
    • 3 beds 3 baths ∙ 2,101 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,101 Sqft ∙ Built 2005
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.05
    •  
  • 770 Maranello Street Henderson, NV 5
    • 3 beds 3 baths ∙ 2,051 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,051 Sqft ∙ Built 2004
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.07
    •  
PROPERTY LISTING DETAILS
Rebecca L Mckenna-inman
1.702.501.2322
Re/max Advantage
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2277216
Last Updated: 03/22/2021
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