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5529 Coral Gate Street Las Vegas, NV 89148

5 Beds 4 Baths 2,522 sqft Built 2005

$429,999

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $170.50
  • 2 Days on Market
  • MLS # : 2249854
  • Updated Date : 11/21/2020 at 16:33
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,522 sqft
  • Baths : 3 full , 1 half
Listing Agent

Precision Realty

Listing Agent's Description

Beautifully remodeled 2 story home in Southwest Las Vegas! Home has second master downstairs with private bath. Large kitchen with huge island, breakfast bar, recessed lighting, glass door display cabinets and crown molding accents. Stunning fireplace with stone from floor to ceiling. Amazing master with custom tiled flooring, separate tub and shower, and HUGE master closet. Upgraded lighting and hardware throughout home. Backyard has covered patio and grass area!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k339k

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

Neighborhood: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10551829

* 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
Kathy L. Batterman Elementary School Primary Regular 910 47 9
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Durango High School High Regular 2,302 95 5

Kathy L. Batterman Elementary School

  • Education Level: Primary
  • # of students: 910
  • # of teachers: 47
9
GreatSchools Rating

Victoria Fertitta Middle School

  • Education Level: Middle
  • # of students: 1,472
  • # of teachers: 60
NA
GreatSchools Rating

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$386,999$472,999$429,999

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,587
Property Tax -$276
Property Insurance -$76
Property Management Fees -$119
CASH FLOW
-$407

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.

$429,999

PROJECTED PRICE

$1,650

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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$119,700

INVESTMENT

$119,700

Down Payment
$107,500
Rehab Estimate
$5,750
Closing Costs
$6,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,587

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,500
Loan Amount $322,499
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$4,285

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,608

    COMP ESTIMATED VALUE
  • $0.64

    COMP AVG. RENT PER SQFT
Comps Range
$1,590
1$1,5902$1,6503$1,6954$1,6995$1,795
$1,795
RENT COMPS ANALYSIS
  • 5529 Coral Gate Street Las Vegas, NV 2
    • 5 beds 4 baths ∙ 2,522 Sqft ∙ Built 2005 5 beds 4 baths ∙ 2,522 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.65
    •  
  • 5627 Moccasin Point Street Las Vegas, NV 1
    • 5 beds 3 baths ∙ 2,441 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,441 Sqft ∙ Built 2005
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.65
    •  
  • 10093 Whitney Falls Court Las Vegas, NV 3
    • 5 beds 2 baths ∙ 2,722 Sqft ∙ Built 2004 5 beds 2 baths ∙ 2,722 Sqft ∙ Built 2004
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.62
    •  
  • 10011 Diablo Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,722 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,722 Sqft ∙ Built 2003
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.62
    •  
  • 5566 Spruce Hill Court Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,722 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,722 Sqft ∙ Built 2005
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.66
    •  
PROPERTY LISTING DETAILS
Enzo Varela
1.702.280.8300
Precision Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249854
Last Updated: 11/21/2020
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