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109 Pettswood Drive Henderson, NV 89002

4 Beds 2 Baths 2,276 sqft Built 2005

$408,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $179.26
  • 3 Days on Market
  • MLS # : 2247247
  • Updated Date : 11/13/2020 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,276 sqft
  • Baths : 2 full
Listing Agent

Wardley Real Estate

Listing Agent's Description

Gorgeous 4 bed/2 bath single-story home available in Paradise Point. Excellent Henerson community with a beautiful park, conveniently located near schools, freeways, shopping, and restaurants. Must see interior is sure to impress with high ceilings, neutral paint tones, and lots of natural light throughout. Carpet and tile flooring in all of the right places. Ideal floorplan offers formal living and dining areas as well as a spacious separate family room. Open concept kitchen with granite counters, ss appliances, and an island w/ breakfast bar seating. Bedrooms are generously sized and the master includes a walk-in closet, a full en-suite, and a separate exit to the secluded backyard. Here you will find lush, mature landscaping, block fencing, and a patio seating area. It's a perfect spot to host a bbq or relax and enjoy the desert breeze. Schedule your showing today.

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: Paradise Hills

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k393k

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

Neighborhood: Paradise Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10801875

* 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
James E And A Rae Smalley Elementary School Primary Regular 878 40 10
Jack And Terry Mannion Middle School Middle Regular 1,523 62 NA
Foothill High School High Regular 2,883 109 7

James E And A Rae Smalley Elementary School

  • Education Level: Primary
  • # of students: 878
  • # of teachers: 40
10
GreatSchools Rating

Jack And Terry Mannion Middle School

  • Education Level: Middle
  • # of students: 1,523
  • # of teachers: 62
NA
GreatSchools Rating

Foothill High School

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

$367,200$448,800$408,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,505
Property Tax -$292
Property Insurance -$71
Property Management Fees -$119
CASH FLOW
-$177

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.

$408,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.2%
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

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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$113,870

INVESTMENT

$113,870

Down Payment
$102,000
Rehab Estimate
$5,750
Closing Costs
$6,120

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,505

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,000
Loan Amount $306,000
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$16,594

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,826

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,8004$1,8105$1,850
$1,850
RENT COMPS ANALYSIS
  • 109 Pettswood Drive Henderson, NV 4
    • 4 beds 2 baths ∙ 2,276 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,276 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.80
    •  
  • 160 Calm Morning Avenue Henderson, NV 1
    • 3 beds 3 baths ∙ 2,161 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,161 Sqft ∙ Built 2005
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.81
    •  
  • 1034 Copper Palm Court Henderson, NV 2
    • 4 beds 4 baths ∙ 2,142 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,142 Sqft ∙ Built 2006
    LEASED 11/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.84
    •  
  • 1221 Grove Park Street Henderson, NV 3
    • 4 beds 3 baths ∙ 2,246 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,246 Sqft ∙ Built 2007
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.80
    •  
  • 1022 Swingline Street #n/a Henderson, NV 5
    • 4 beds 3 baths ∙ 2,444 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,444 Sqft ∙ Built 2005
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.76
    •  
PROPERTY LISTING DETAILS
Caryn Slagle-scruggs
1.702.373.8111
Wardley Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2247247
Last Updated: 11/13/2020
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