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1065 Water Cove Street Henderson, NV 89011

3 Beds 3 Baths 1,843 sqft Built 2013

$340,000

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 2013
  • Price/Sqft : $184.48
  • 8 Days on Market
  • MLS # : 2242480
  • Updated Date : 10/28/2020 at 10:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,843 sqft
  • Baths : 2 full , 1 half
Listing Agent

Platinum R.e. Professionals

Listing Agent's Description

Beautiful, upgraded 2 story in highly desirable Weson Hills in Henderson. Well appointed floor plan with engineered wood floors throughout. Great room with dining area open to the gourmet kitchen. Gorgeous kitchen features granite counter tops, stainless steel appliances, center island, pantry and ample cabinet space. Upstairs you will find a spacious loft separating the master bedroom from the secondary bedrooms. Master bedroom is a great size with a lovely bathroom. Great community with parks and close to Lake Las Vegas, Lake Mead and many trails. Move in ready! This one won't last.

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: Pittman

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $72k340k

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

Neighborhood: Pittman

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500160017001800Rent in $7911825

* 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
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,254
Property Tax -$244
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
$100

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$340,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.5%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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

PROJECTED ANNUAL CASH FLOW

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

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$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$33,529

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,774

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7803$1,8004$1,8105$1,850
$1,850
RENT COMPS ANALYSIS
  • 1065 Water Cove Street Henderson, NV 2
    • 3 beds 3 baths ∙ 1,843 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,843 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.97
    •  
  • 113 Cascade Meadow Court Henderson, NV 1
    • 3 beds 3 baths ∙ 1,843 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,843 Sqft ∙ Built 2013
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.92
    •  
  • 1077 Cactus Rock Street Henderson, NV 3
    • 3 beds 3 baths ∙ 1,843 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,843 Sqft ∙ Built 2013
    LEASED 10/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.98
    •  
  • 129 Country River Avenue Henderson, NV 4
    • 3 beds 3 baths ∙ 1,902 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,902 Sqft ∙ Built 2014
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.95
    •  
  • 113 Brookhouse Court Henderson, NV 5
    • 3 beds 3 baths ∙ 1,843 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,843 Sqft ∙ Built 2013
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.00
    •  
PROPERTY LISTING DETAILS
Steven C Sales
1.702.845.5348
Platinum R.e. Professionals
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2242480
Last Updated: 10/28/2020
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