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865 Auroras Edge Court Henderson, NV 89012

4 Beds 5 Baths 2,970 sqft Built 2018

INVESTimate

$739,999

List Price

$2,480

$2,232 - $2,728

Rent Est.

$810,521  ( +9.53%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $249.16
  • 5 Days on Market
  • MLS # : 2223841
  • Updated Date : 08/24/2020 at 18:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,970 sqft
  • Baths : 4 full , 1 half
Listing Agent

Rothwell Gornt Companies

Listing Agent's Description

ABSOLUTELY STUNNING MODERN HOME WITH CASITA IN THE SECLUDED CUL-DE-SAC OF D.R. HORTON’S AWARD WINNING UPSCALE GATED COMMUNITY OF AURORAS EDGE. NEARLY 3000 SQ. FT. FULLY UPGRADED WITH PRIVATE COURTYARD ENTRY, HUGE MASTER BEDROOM WITH TWO SEPARATE BALCONIES, COVERED PRIVATE ROOF TOP DECK, LARGE LOFT, 3 CAR GARAGE UPGRADED WITH EPOXY FLOORING, $40K IN LANDSCAPE UPGRADES, GAS FIRE PIT PERFECT FOR ENTERTAINING, MOTORIZED REMOTE CONTROL WINDOW COVERINGS THROUGHOUT, PRE-WIRED FOR SURROUND SOUND, UPGRADED TILE AND GRANITE THROUGHOUT AND TOO MANY MORE UPGRADES TO MENTION. THIS HOME HAS MILLION-DOLLAR STRIP VIEWS AND BACKS UP TO THE PROTECTED ROCK FORMATIONS OF BLACK MOUNTAIN. WATCH THE FIREWORKS FROM YOUR ROOF TOP DECK WITH 360° UNOBSTRUCTED VIEWS OF THE STRIP AND MOUNTAINS! HOME IS CLOSE TO SEVERAL GREAT TRAILS FOR HIKING, BIKING, AND RUNNING. AT AN ELEVATION OF 2150 FEET THIS PRIVATELY LOCATED HOME HAS IT ALL. ABSOLUTELY GORGEOUS INSIDE AND OUT! LEASEBACK AVAILABLE THROUGH MAY 2021.

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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: McCullough Hills

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k366k

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

Neighborhood: McCullough Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10801914

* 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
Ulis Newton Elementary School Primary Regular 611 35 7
Jack And Terry Mannion Middle School Middle Regular 1,523 62 NA
Foothill High School High Regular 2,883 109 7

Ulis Newton Elementary School

  • Education Level: Primary
  • # of students: 611
  • # of teachers: 35
7
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
 

$665,999$813,999$739,999

PURCHASE PRICE

$2,232$2,728$2,480

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,480
EXPENSES Loan Payment -$2,730
Property Tax -$510
Property Insurance -$85
HOA -$105
Property Management Fees -$119
CASH FLOW
-$1,069

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.

$739,999

PROJECTED PRICE

$2,480

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.53%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$201,850

INVESTMENT

$201,850

Down Payment
$185,000
Rehab Estimate
$5,750
Closing Costs
$11,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,730

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $185,000
Loan Amount $554,999
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$235

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,480

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,450

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,3003$2,4504$2,4805$2,750
$2,750
RENT COMPS ANALYSIS
  • 865 Auroras Edge Court Henderson, NV 4
    • 4 beds 5 baths ∙ 2,970 Sqft ∙ Built 2018 4 beds 5 baths ∙ 2,970 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,480
    • $0.84
    •  
  • 229 Amber Bluff Street Henderson, NV 1
    • 4 beds 3 baths ∙ 3,120 Sqft ∙ Built 2014 4 beds 3 baths ∙ 3,120 Sqft ∙ Built 2014
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.72
    •  
  • 816 Applecross Henderson, NV 2
    • 4 beds 3 baths ∙ 2,793 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,793 Sqft ∙ Built 2013
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.82
    •  
  • 817 Motherwell Avenue Henderson, NV 3
    • 4 beds 3 baths ∙ 2,793 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,793 Sqft ∙ Built 2013
    property image
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.88
    •  
  • 213 Amber Bluff Street Henderson, NV 5
    • 4 beds 3 baths ∙ 3,120 Sqft ∙ Built 2018 4 beds 3 baths ∙ 3,120 Sqft ∙ Built 2018
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.88
    •  
PROPERTY LISTING DETAILS
Ryan Crighton
1.702.217.1048
Rothwell Gornt Companies
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223841
Last Updated: 08/24/2020
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