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1047 Oak Shade Lane Henderson, NV 89015

3 Beds 2 Baths 1,431 sqft Built 1997

$344,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $240.39
  • 3 Days on Market
  • MLS # : 2253438
  • Updated Date : 12/04/2020 at 15:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,431 sqft
  • Baths : 2 full
Listing Agent

Rooftop Realty

Listing Agent's Description

This remarkable single story home has been updated beautifully throughout! Wide open kitchen with all new cabinets, quartz countertops, large island and new wood like flooring. You will also enjoy a large pool sized lot with no backyard neighbors and extra large cabana. Other great details include plantation shutters, an extra wide driveway, and great closet organization in the master & guest br closet. This property is surrounded by lots of walking trails, large parks, and so much more! Schedule your showing today, this will go fast!

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: 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
 

$309,600$378,400$344,000

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$1,269
Property Tax -$178
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
-$281

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.

$344,000

PROJECTED PRICE

$1,340

PROJECTED RENT

0.39%

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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$96,910

INVESTMENT

$96,910

Down Payment
$86,000
Rehab Estimate
$5,750
Closing Costs
$5,160

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,269

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,000
Loan Amount $258,000
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$6,197

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,460

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3403$1,3754$1,5005$1,550
$1,550
RENT COMPS ANALYSIS
  • 1047 Oak Shade Lane Henderson, NV 2
    • 3 beds 2 baths ∙ 1,431 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,431 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.94
    •  
  • 708 Spotted Eagle Street Henderson, NV 1
    • 3 beds 3 baths ∙ 1,370 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,370 Sqft ∙ Built 2004
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.95
    •  
  • 1028 Steppe Eagle Avenue #0 Henderson, NV 3
    • 3 beds 3 baths ∙ 1,370 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,370 Sqft ∙ Built 2003
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.00
    •  
  • 730 Goshawk Street #0 Henderson, NV 4
    • 3 beds 3 baths ∙ 1,431 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,431 Sqft ∙ Built 2001
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.05
    •  
  • 1037 Juniper Ridge Avenue Henderson, NV 5
    • 3 beds 2 baths ∙ 1,431 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,431 Sqft ∙ Built 1997
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.08
    •  
PROPERTY LISTING DETAILS
Kimberly A Bowman
1.702.287.4764
Rooftop Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2253438
Last Updated: 12/04/2020
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