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1024 Cutter Street Henderson, NV 89011

4 Beds 2 Baths 2,006 sqft Built 1993

$449,900

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $224.28
  • 3 Days on Market
  • MLS # : 2272694
  • Updated Date : 02/27/2021 at 17:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,006 sqft
  • Baths : 2 full
Listing Agent

Offerpad

Listing Agent's Description

MOVE IN TODAY! 4 BR, 3 BA, 2 story home w/pool and spa. NEW exterior & interion paint. NEW carpet thru out. UPDATED cabinets. Formal living/dining area. The kitchen features a desk area, island, pantry, SS appliances, NEW track lighting, quartz counters, undermount sink & SS dishwasher. Separate family room w/fireplace. One bedroom downstairs w/access to the backyard. Master bedroom w/NEW ceiling fan and UPDATED ensuite bath. Large backyard w/covered patio and pool/spa. NEW garage door & electrical panel. Replumbed to remove poly piping & manabloc. Roof and pool repairs. COME SEE TODAY!

SEE MORE

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: Calico Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k435k

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

Neighborhood: Calico Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10802043

* 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
Josh Stevens Elementary School Primary Unknown NA
B. Mahlon Brown Junior High School Middle Regular 978 46 NA
Basic High School High Regular 2,367 100 3

Josh Stevens Elementary School

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

B. Mahlon Brown Junior High School

  • Education Level: Middle
  • # of students: 978
  • # of teachers: 46
NA
GreatSchools Rating

Basic High School

  • Education Level: High
  • # of students: 2,367
  • # of teachers: 100
3
GreatSchools Rating
 

$404,910$494,890$449,900

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,563
Property Tax -$233
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
$59

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.

$449,900

PROJECTED PRICE

$2,040

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.7%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

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$124,974

INVESTMENT

$124,974

Down Payment
$112,475
Rehab Estimate
$5,750
Closing Costs
$6,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,475
Loan Amount $337,425
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$36,046

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $2,096

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,0403$2,1004$2,1955$2,200
$2,200
RENT COMPS ANALYSIS
  • 1024 Cutter Street Henderson, NV 2
    • 4 beds 2 baths ∙ 2,006 Sqft ∙ Built 1993 4 beds 2 baths ∙ 2,006 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $1.02
    •  
  • 142 Via Di Mello Henderson, NV 1
    • 3 beds 2 baths ∙ 1,806 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,806 Sqft ∙ Built 2013
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.02
    •  
  • 13 Avenza Drive #0 Henderson, NV 3
    • 3 beds 2 baths ∙ 2,035 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,035 Sqft ∙ Built 2006
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.03
    •  
  • 969 Marigold Court Henderson, NV 4
    • 3 beds 2 baths ∙ 2,091 Sqft ∙ Built 1987 3 beds 2 baths ∙ 2,091 Sqft ∙ Built 1987
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.05
    •  
  • 1222 Calcione Drive Henderson, NV 5
    • 3 beds 2 baths ∙ 2,035 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,035 Sqft ∙ Built 2005
    property image
    LEASED 10/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.08
    •  
PROPERTY LISTING DETAILS
Robert E Jones
1.480.636.9175
Offerpad
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2272694
Last Updated: 02/27/2021
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