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725 Gulf Pearl Drive Henderson, NV 89002

3 Beds 3 Baths 1,835 sqft Built 2015

$342,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $186.38
  • 3 Days on Market
  • MLS # : 2247996
  • Updated Date : 11/14/2020 at 11:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,835 sqft
  • Baths : 2 full , 1 half
Listing Agent

Simply Vegas

Listing Agent's Description

STUNNING single story in quaint South Henderson neighborhood. Nearly new, this 3 bed/2.5 bath home has it all! Open floor plan with two tone paint and window treatments throughout, upgraded carpet & pad, and 20" tile. Gourmet kitchen showcases an expansive island with granite counters, stainless steel Whirlpool appliances, and recessed lighting. Spacious master with separate his & hers closets. Upgraded master bath features a garden tub, huge shower with seat, and make-up vanity. Private backyard retreat is complete with covered patio, built-in BBQ, firepit, and pavers. Welcoming community park with playground. Easy access to shopping, dining and freeway access.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Highland Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $117k340k

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

Neighborhood: Highland Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9181825

* 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
Fay Galloway Elementary School Primary Regular 691 36 6
Jack And Terry Mannion Middle School Middle Regular 1,523 62 NA
Foothill High School High Regular 2,883 109 7

Fay Galloway Elementary School

  • Education Level: Primary
  • # of students: 691
  • # of teachers: 36
6
GreatSchools Rating

Jack And Terry Mannion Middle School

  • Education Level: Middle
  • # of students: 1,523
  • # of teachers: 62
NA
GreatSchools Rating

Foothill High School

  • Education Level: High
  • # of students: 2,883
  • # of teachers: 109
7
GreatSchools Rating
 

$307,800$376,200$342,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,262
Property Tax -$260
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
-$84

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.

$342,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.2%
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$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$96,380

INVESTMENT

$96,380

Down Payment
$85,500
Rehab Estimate
$5,750
Closing Costs
$5,130

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,262

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,500
Loan Amount $256,500
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$18,641

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,638

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,6204$1,6755$1,725
$1,725
RENT COMPS ANALYSIS
  • 725 Gulf Pearl Drive Henderson, NV 3
    • 3 beds 3 baths ∙ 1,835 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,835 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.88
    •  
  • 2085 Hocus Pocus Place #0 Henderson, NV 1
    • 3 beds 3 baths ∙ 1,635 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,635 Sqft ∙ Built 2006
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.95
    •  
  • 1985 Hocus Pocus Place Henderson, NV 2
    • 3 beds 3 baths ∙ 1,853 Sqft ∙ Built 2011 3 beds 3 baths ∙ 1,853 Sqft ∙ Built 2011
    LEASED 11/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.86
    •  
  • 2277 Red Alder Street Henderson, NV 4
    • 4 beds 2 baths ∙ 1,929 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,929 Sqft ∙ Built 1999
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.87
    •  
  • 2232 Sky Island Drive Henderson, NV 5
    • 4 beds 3 baths ∙ 1,937 Sqft ∙ Built 2017 4 beds 3 baths ∙ 1,937 Sqft ∙ Built 2017
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.89
    •  
PROPERTY LISTING DETAILS
Ara Sanders
1.702.205.8305
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2247996
Last Updated: 11/14/2020
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