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1080 Flatfoot Avenue Henderson, NV 89012

4 Beds 3 Baths 2,076 sqft Built 1999

$405,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $195.09
  • 5 Days on Market
  • MLS # : 2268836
  • Updated Date : 03/05/2021 at 23:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,076 sqft
  • Baths : 3 full
Listing Agent

Windermere Prestige Properties

Listing Agent's Description

Lovely single story home featuring tile flooring throughout

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: McCullough Hills

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k366k

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

Neighborhood: McCullough Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10801914

* 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
Lorna J. Kesterson Elementary School Primary Regular 653 31 9
Bob Miller Middle School Middle Regular 1,600 59 NA
Foothill High School High Regular 2,883 109 7

Lorna J. Kesterson Elementary School

  • Education Level: Primary
  • # of students: 653
  • # of teachers: 31
9
GreatSchools Rating

Bob Miller Middle School

  • Education Level: Middle
  • # of students: 1,600
  • # of teachers: 59
NA
GreatSchools Rating

Foothill High School

  • Education Level: High
  • # of students: 2,883
  • # of teachers: 109
7
GreatSchools Rating
 

$364,500$445,500$405,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,407
Property Tax -$243
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
$14

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.

$405,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.5%
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$1.4M$1.6M

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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$113,075

INVESTMENT

$113,075

Down Payment
$101,250
Rehab Estimate
$5,750
Closing Costs
$6,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,407

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $101,250
Loan Amount $303,750
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$28,356

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,863

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7503$1,7754$1,8505$1,950
$1,950
RENT COMPS ANALYSIS
  • 1080 Flatfoot Avenue Henderson, NV 4
    • 4 beds 3 baths ∙ 2,076 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,076 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.89
    •  
  • 978 Ashford Hollow Avenue Henderson, NV 1
    • 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 2006
    property image
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 15 Woodcarver Street Henderson, NV 2
    • 4 beds 3 baths ∙ 1,915 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,915 Sqft ∙ Built 2000
    property image
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.91
    •  
  • 92 El Castillo Court #na Henderson, NV 3
    • 4 beds 3 baths ∙ 2,053 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,053 Sqft ∙ Built 2003
    property image
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.86
    •  
  • 1173 Twinkling Meadows Drive Henderson, NV 5
    • 3 beds 3 baths ∙ 2,075 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,075 Sqft ∙ Built 2005
    property image
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.94
    •  
PROPERTY LISTING DETAILS
Stacy Conner
1.702.741.5944
Windermere Prestige Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2268836
Last Updated: 03/05/2021
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