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709 Coriander Canyon Court Las Vegas, NV 89138

5 Beds 5 Baths 4,576 sqft Built 2006

$1,049,900

List Price

$5,050

$4.8K - $5.3K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2006
  • Price/Sqft : $229.44
  • 9 Days on Market
  • MLS # : 2241205
  • Updated Date : 11/02/2020 at 05:24
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,576 sqft
  • Baths : 4 full , 1 half
Listing Agent

Listing Masters Llc

Listing Agent's Description

Elegant 2-story Summerlin home located in the gated community of Serrano. Desirable Catania model by Toll Brothers. This beautiful home boasts 4,576 sq.ft. of living space with 5 bedrooms, 5 baths & 3 car garage with Mt. views. Central outdoor courtyard with fireplace. This home offers stained concrete, luxury carpet, elegant lighting & plantation shutters throughout. Large master bedroom retreat with an attached room great for an office or sitting area. Master bath has a spa like atmosphere with his/hers double vanities, a large jetted tub, walk in shower, and 2 separate walk in closets with custom cabinetry. 3 bedrooms have access to a balcony which overlooks the outdoor courtyard. Large backyard with gorgeous pool, spa & grass area. Nearby is the popular Paseo Park with lots of recreation (basketball, volley ball, tot lot, playground, picnic pavilions, etc.). Close proximity to I-215 & the Red Rock area, popular for hiking, biking, and exploring the great outdoors of the LV desert.

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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: The Paseos

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $119k545k

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

Neighborhood: The Paseos

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10763057

* 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
Billy And Rosemary Vassiliadis Elementary School Primary Unknown NA
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Billy And Rosemary Vassiliadis Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Sig Rogich Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 70
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$944,910$1,154,890$1,049,900

PURCHASE PRICE

$4,545$5,555$5,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,050
EXPENSES Loan Payment -$3,874
Property Tax -$841
Property Insurance -$116
Property Management Fees -$119
CASH FLOW
$100

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.

$1,049,900

PROJECTED PRICE

$5,050

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.1%
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$3.0M$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$10k$20k$30k$40k$50k$60k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$283,974

INVESTMENT

$283,974

Down Payment
$262,475
Rehab Estimate
$5,750
Closing Costs
$15,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,874

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $262,475
Loan Amount $787,425
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$93,480

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $5,050

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $5,034

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$4,700
1$4,7002$4,9953$5,050
$5,050
RENT COMPS ANALYSIS
  • 709 Coriander Canyon Court Las Vegas, NV 3
    • 5 beds 5 baths ∙ 4,576 Sqft ∙ Built 2006 5 beds 5 baths ∙ 4,576 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $5,050
    • $1.10
    •  
  • 1108 Emerald Tint Las Vegas, NV 1
    • 4 beds 3 baths ∙ 4,229 Sqft ∙ Built 2001 4 beds 3 baths ∙ 4,229 Sqft ∙ Built 2001
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,700
    • $1.11
    •  
  • 2125 Alcova Ridge Drive Las Vegas, NV 2
    • 4 beds 6 baths ∙ 4,577 Sqft ∙ Built 2006 4 beds 6 baths ∙ 4,577 Sqft ∙ Built 2006
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,995
    • $1.09
    •  
PROPERTY LISTING DETAILS
Lincoln S Rogers
1.702.582.7032
Listing Masters Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2241205
Last Updated: 11/02/2020
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