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513 First Light Street Henderson, NV 89052

4 Beds 4 Baths 3,259 sqft Built 1998

$800,000

List Price

$2,700

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $245.47
  • 3 Days on Market
  • MLS # : 2279937
  • Updated Date : 03/21/2021 at 03:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,259 sqft
  • Baths : 4 full
Listing Agent

Rooftop Realty

Listing Agent's Description

BREATHTAKING home in highly sought after Green Valley Heights. Boasting 3259 sq.ft. of gorgeous living space, this stunning 4BD/4 BA home has exquisite finishes throughout! Over 200k in upgrades!! Home was recently remodeled adding an additional 600 sq,ft. Primary Suite with 2 walk-in closets and large walk-in steam shower, an upstairs laundry room and an additional 600 sq.ft. of garage space. Original kitchen removed and replaced with a GOURMET Chef's Kitchen with stainless steel appliances and custom cabinets including programmable led lighting. Awesome backyard featuring a covered patio & GORGEOUS POOL WITH SPA. Nearby to shopping, restaurants, and The District at Green Valley Ranch. 14 minutes to McCarran International Airport.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
John Vanderburg Elementary School Primary Regular 929 45 10
Bob Miller Middle School Middle Regular 1,600 59 NA
Coronado High School High Regular 3,240 124 10

John Vanderburg Elementary School

  • Education Level: Primary
  • # of students: 929
  • # of teachers: 45
10
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
 

$720,000$880,000$800,000

PURCHASE PRICE

$2,430$2,970$2,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,700
EXPENSES Loan Payment -$2,779
Property Tax -$360
Property Insurance -$90
Property Management Fees -$119
CASH FLOW
-$648

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.

$800,000

PROJECTED PRICE

$2,700

PROJECTED RENT

0.34%

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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$217,750

INVESTMENT

$217,750

Down Payment
$200,000
Rehab Estimate
$5,750
Closing Costs
$12,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,779

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $200,000
Loan Amount $600,000
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$9,424

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,700

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,803

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,6953$2,7004$2,8005$2,950
$2,950
RENT COMPS ANALYSIS
  • 513 First Light Street Henderson, NV 3
    • 4 beds 4 baths ∙ 3,259 Sqft ∙ Built 1998 4 beds 4 baths ∙ 3,259 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.83
    •  
  • 2262 Brandwood Henderson, NV 1
    • 4 beds 4 baths ∙ 3,212 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,212 Sqft ∙ Built 2018
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.83
    •  
  • 744 Barnegat Bay Henderson, NV 2
    • 5 beds 3 baths ∙ 3,183 Sqft ∙ Built 1999 5 beds 3 baths ∙ 3,183 Sqft ∙ Built 1999
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.85
    •  
  • 498 Melrose Heights Street Henderson, NV 4
    • 5 beds 3 baths ∙ 3,052 Sqft ∙ Built 1997 5 beds 3 baths ∙ 3,052 Sqft ∙ Built 1997
    LEASED 10/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.92
    •  
  • 292 Antelope Village Circle Henderson, NV 5
    • 4 beds 4 baths ∙ 3,503 Sqft ∙ Built 1998 4 beds 4 baths ∙ 3,503 Sqft ∙ Built 1998
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.84
    •  
PROPERTY LISTING DETAILS
John K Hilyard
1.702.427.6022
Rooftop Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2279937
Last Updated: 03/21/2021
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