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703 Kory Dunes Court Henderson, NV 89014

4 Beds 2 Baths 2,632 sqft Built 2015

INVESTimate

$549,990

List Price

$2,430

$2,187 - $2,673

Rent Est.

$605,704  ( +10.13%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $208.96
  • 6 Days on Market
  • MLS # : 2223955
  • Updated Date : 08/22/2020 at 15:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,632 sqft
  • Baths : 2 full
Listing Agent

The Brokerage A Re Firm

Listing Agent's Description

This amazing four bedroom home is situated on an oversize lot so you'll have plenty of room inside and outside. The home's entry has a lovely foyer that splits off into one of the secondary bedrooms and a 3/4 bath. The heart of a home is in the kitchen, and this massive kitchen doesn't disappoint! Enjoy home cooking with stainless appliances & granite counter tops. For informal dining, the island has space for your bar stools, but there's also a formal dining room for entertaining on special holidays. With this open concept of living room and kitchen, you'll never miss a moment of your favorite shows! To the left of the living room, are two additional secondary bedrooms and a full bath. The primary bedroom is to the right of the living room and has a large attached bath with double sinks, walk-in closet with organizers already in place and separate tub and shower. Your landscaped backyard has synthetic grass, a large covered patio and gas stub for your grill. No detail has been spared!

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: Whitney Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $110k340k

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

Neighborhood: Whitney Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10561825

* 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
Harriet Treem Elementary School Primary Regular 820 44 5
Francis Cortney Middle School Middle Regular 1,235 52 NA
Green Valley High School High Regular 3,092 122 9

Harriet Treem Elementary School

  • Education Level: Primary
  • # of students: 820
  • # of teachers: 44
5
GreatSchools Rating

Francis Cortney Middle School

  • Education Level: Middle
  • # of students: 1,235
  • # of teachers: 52
NA
GreatSchools Rating

Green Valley High School

  • Education Level: High
  • # of students: 3,092
  • # of teachers: 122
9
GreatSchools Rating
 

$494,991$604,989$549,990

PURCHASE PRICE

$2,187$2,673$2,430

RENT

DOWN PAYMENT
FINANCING

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-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,430
EXPENSES Loan Payment -$2,029
Property Tax -$373
Property Insurance -$78
HOA -$35
Property Management Fees -$119
CASH FLOW
-$205

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.

$549,990

PROJECTED PRICE

$2,430

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.13%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,497

INVESTMENT

$151,497

Down Payment
$137,498
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,498
Loan Amount $412,493
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$24,006

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,430

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,119

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9503$2,0004$2,3005$2,430
$2,430
RENT COMPS ANALYSIS
  • 703 Kory Dunes Court Henderson, NV 5
    • 4 beds 2 baths ∙ 2,632 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,632 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $0.92
    •  
  • 704 Suguaro Bluffs Street #0 Henderson, NV 1
    • 4 beds 2 baths ∙ 2,577 Sqft ∙ Built 2013 4 beds 2 baths ∙ 2,577 Sqft ∙ Built 2013
    LEASED 05/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.74
    •  
  • 353 Wilford Springs Street #0 Henderson, NV 2
    • 3 beds 3 baths ∙ 2,530 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,530 Sqft ∙ Built 2016
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.77
    •  
  • 1692 Butterfly Ridge Avenue Henderson, NV 3
    • 4 beds 3 baths ∙ 2,433 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,433 Sqft ∙ Built 2013
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.82
    •  
  • 1626 Sedona Cliffs Avenue Henderson, NV 4
    • 3 beds 3 baths ∙ 2,577 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,577 Sqft ∙ Built 2015
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.89
    •  
PROPERTY LISTING DETAILS
Rebecca Gray
1.702.556.0867
The Brokerage A Re Firm
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223955
Last Updated: 08/22/2020
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