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PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Pittman
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$95,850
LOAN DETAILS
$1,254
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $85,000 |
| Loan Amount | $255,000 |
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
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1065 Water Cove Street Henderson, NV 2
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113 Cascade Meadow Court Henderson, NV 1
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1077 Cactus Rock Street Henderson, NV 3
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LEASED 10/11/20- Rent
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- $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
1.702.845.5348
Platinum R.e. Professionals
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2242480
Last Updated: 10/28/2020
