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10262 Headrick Drive Las Vegas, NV 89166

3 Beds 3 Baths 1,817 sqft Built 2010

$324,999

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

October 27, 2020 RECENTLY ADDED
FACTS
  • Built In 2010
  • Price/Sqft : $178.87
  • 8 Days on Market
  • MLS # : 2242742
  • Updated Date : 10/27/2020 at 15:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,817 sqft
  • Baths : 2 full , 1 half
Listing Agent

Cornel Realty Llc

Listing Agent's Description

GORGEOUS 2 STORY HOME IN A GATED COMMUNITY! 3 Bedrooms, big loft (second family room) and front balcony. Beautiful kitchen with Island, granite countertops and stainless steel appliances. Spacious nicely designed backyard. GREAT LOCATION IN THE HEART OF THE PROVIDENCE MASTER PLAN NEAR SEVERAL COMMUNITY PARKS & SCHOOLS!

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: Madison Colony at Providence

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Madison Colony at Providence

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10221875

* 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
Kenneth Divich Elementary Primary Unknown NA
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Arbor View High School High Regular 2,878 116 9

Kenneth Divich Elementary

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

Edmundo Eddie Escobedo Sr Middle School

  • Education Level: Middle
  • # of students: 1,171
  • # of teachers: 47
NA
GreatSchools Rating

Arbor View High School

  • Education Level: High
  • # of students: 2,878
  • # of teachers: 116
9
GreatSchools Rating
 

$292,499$357,499$324,999

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,199
Property Tax -$254
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
$16

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.

$324,999

PROJECTED PRICE

$1,650

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.2%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,749
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$27,403

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,690

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,6954$1,7505$1,750
$1,750
RENT COMPS ANALYSIS
  • 10262 Headrick Drive Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,817 Sqft ∙ Built 2010 3 beds 3 baths ∙ 1,817 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.91
    •  
  • 10225 Headrick Drive Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,817 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,817 Sqft ∙ Built 2008
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.91
    •  
  • 10273 Headrick Drive Las Vegas, NV 3
    • 4 beds 2 baths ∙ 1,913 Sqft ∙ Built 2013 4 beds 2 baths ∙ 1,913 Sqft ∙ Built 2013
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.89
    •  
  • 7846 Askew Place #0 Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,817 Sqft ∙ Built 2011 3 beds 3 baths ∙ 1,817 Sqft ∙ Built 2011
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.96
    •  
  • 10226 Headrick Drive Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,817 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,817 Sqft ∙ Built 2008
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.96
    •  
PROPERTY LISTING DETAILS
Carolyn J Streva
1.702.400.7577
Cornel Realty Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2242742
Last Updated: 10/27/2020
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