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531 Startop Street Henderson, NV 89052

3 Beds 1 Baths 1,264 sqft Built 1999

$299,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $236.55
  • 5 Days on Market
  • MLS # : 2269359
  • Updated Date : 02/14/2021 at 05:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,264 sqft
  • Baths : 1 full
Listing Agent

Premier Property Management Co

Listing Agent's Description

Upgraded Single Story, 3 Bedroom Home in "Southfork". Features: Beautiful Grass Landscape in the Front & Rear Yards. Tile Flooring & Tile Counters in Kit. Granite-Counters in both bathrooms! Upgraded Hawaiian Bamboo-Wood & Ceramic Tile Flooring!! Carpet Only in Bedrooms, 2 car garage w./ shelving & storage compartments! Ceiling Fans, Front & rear Covered Patios. At the East End of the Complex: Community Area Features: Park, Playground, Jogging Trails & Tennis Courts! Property Includes ALL Appliances! A Must see!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (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
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$1,039
Property Tax -$171
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
$50

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.

$299,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.48%

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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,039

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$24,752

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,438

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4303$1,4954$1,4955$1,600
$1,600
RENT COMPS ANALYSIS
  • 531 Startop Street Henderson, NV 2
    • 3 beds 1 baths ∙ 1,264 Sqft ∙ Built 1999 3 beds 1 baths ∙ 1,264 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $1.13
    •  
  • 506 Tallulah Place Henderson, NV 1
    • 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1999
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.06
    •  
  • 2687 Park Creek Lane Henderson, NV 3
    • 3 beds 1 baths ∙ 1,264 Sqft ∙ Built 2000 3 beds 1 baths ∙ 1,264 Sqft ∙ Built 2000
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.18
    •  
  • 525 Siberia Street Henderson, NV 4
    • 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1999
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.18
    •  
  • 674 Riverband Henderson, NV 5
    • 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1998
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.13
    •  
PROPERTY LISTING DETAILS
Christopher R Page
1.702.210.9993
Premier Property Management Co
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2269359
Last Updated: 02/14/2021
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