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1107 Cadiz Avenue Henderson, NV 89015

3 Beds 3 Baths 2,936 sqft Built 1991

$700,000

List Price

$2,610

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $238.42
  • 1 Days on Market
  • MLS # : 2311904
  • Updated Date : 07/13/2021 at 09:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,936 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Market Place I

Listing Agent's Description

This incredible single story home boasts features that are hard to find. Resting on a large corner lot, this home is near Lake Mead and other recreation areas. The home has an expansive garage capable of fitting a workshop area as well as a massive shed/garage detached from the home for RV parking that is complete with electrical hookup. As you walk through your courtyard and into the home you will immediately notice the stunning views. Full strip views and views of the surrounding valley and mountain are available to you. The secondary bedrooms each have their own walk in closet and the expansive master bedroom has views of the valley as well. The kitchen has a new oven, microwave and refrigerator and opens up nicely to the living room and outdoor seating area. The home has been freshly painted on the interior.

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: Foothills

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $121k355k

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

Neighborhood: Foothills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10081825

* 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
C.t. Sewell Elementary School Primary Regular 833 41 8
B. Mahlon Brown Junior High School Middle Regular 978 46 NA
Basic High School High Regular 2,367 100 3

C.t. Sewell Elementary School

  • Education Level: Primary
  • # of students: 833
  • # of teachers: 41
8
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
 

$630,000$770,000$700,000

PURCHASE PRICE

$2,349$2,871$2,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,610
EXPENSES Loan Payment -$2,431
Property Tax -$389
Property Insurance -$84
Property Management Fees -$119
CASH FLOW
-$413

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.

$700,000

PROJECTED PRICE

$2,610

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.9%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$191,250

INVESTMENT

$191,250

Down Payment
$175,000
Rehab Estimate
$5,750
Closing Costs
$10,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,431

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $175,000
Loan Amount $525,000
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$14,784

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,610

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,452

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,2953$2,3954$2,4005$2,610
$2,610
RENT COMPS ANALYSIS
  • 1107 Cadiz Avenue Henderson, NV 5
    • 3 beds 3 baths ∙ 2,936 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,936 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $2,610
    • $0.89
    •  
  • 1051 Via San Gallo Court Henderson, NV 1
    • 3 beds 3 baths ∙ 2,665 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,665 Sqft ∙ Built 2006
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.69
    •  
  • 1013 Via Gallia Street Henderson, NV 2
    • 3 beds 3 baths ∙ 2,672 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,672 Sqft ∙ Built 2005
    LEASED 05/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.86
    •  
  • 964 Via Vannucci Way Henderson, NV 3
    • 4 beds 3 baths ∙ 2,688 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,688 Sqft ∙ Built 2008
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.89
    •  
  • 1016 Olivia Henderson, NV 4
    • 3 beds 2 baths ∙ 2,674 Sqft ∙ Built 2008 3 beds 2 baths ∙ 2,674 Sqft ∙ Built 2008
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.90
    •  
PROPERTY LISTING DETAILS
Zach Walkerlieb
1.702.743.9998
Keller Williams Market Place I
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2311904
Last Updated: 07/13/2021
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