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1033 Blue Lantern Drive Henderson, NV 89015

3 Beds 2 Baths 1,425 sqft Built 1999

$349,900

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $245.54
  • 11 Days on Market
  • MLS # : 2268474
  • Updated Date : 02/13/2021 at 19:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,425 sqft
  • Baths : 2 full
Listing Agent

Century 21 Gavish Real Estate

Listing Agent's Description

Fabulous & Stunning Single Story Home In a Much Desired Neighborhood*This Home is Like New*Recently Remodeled Kitchen With Stainless Steel Appliances & Granite Counter Tops*New Upgraded Ceramic Tile & Carpet*Modern Designer Light Fixtures*Primary Bedroom With Ceiling Fan & Walk In Closet*Primary Bathroom With Tub/Shower Combo & Dual Sinks*Mature Landscaping With Covered Patio & Screen Shades*Living Room With Vaulted Ceilings*Separate Den/Office/Family Room With Built In Shelving*Freshly Painted Throughout*Finished 2 Car Garage including Cabinets*Solar Screens*

SEE MORE

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: River Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k362k

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

Neighborhood: River Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9911875

* 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
Sue Morrow Elementary School Primary Regular 734 38 9
B. Mahlon Brown Junior High School Middle Regular 978 46 NA
Basic High School High Regular 2,367 100 3

Sue Morrow Elementary School

  • Education Level: Primary
  • # of students: 734
  • # of teachers: 38
9
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
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$1,215
Property Tax -$182
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
-$161

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.

$349,900

PROJECTED PRICE

$1,410

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.8%
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-$5.0k$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$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$11,252

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,454

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,410
1$1,4102$1,5503$1,5504$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 1033 Blue Lantern Drive Henderson, NV 1
    • 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.99
    •  
  • 568 Preakness Stakes Street Henderson, NV 2
    • 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 2002
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.97
    •  
  • 1010 Blue Lantern Drive Henderson, NV 3
    • 3 beds 2 baths ∙ 1,515 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,515 Sqft ∙ Built 1996
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.02
    •  
  • 990 Broken Reed Court Henderson, NV 4
    • 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 1997
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.02
    •  
  • 997 Blue Lantern Drive Henderson, NV 5
    • 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 1997
    LEASED 01/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.07
    •  
PROPERTY LISTING DETAILS
Donna Ingram
1.702.325.2568
Century 21 Gavish Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2268474
Last Updated: 02/13/2021
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