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1108 Plumstead Henderson, NV 89002

3 Beds 3 Baths 2,997 sqft Built 2007

$429,900

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2007
  • Price/Sqft : $143.44
  • 10 Days on Market
  • MLS # : 2242364
  • Updated Date : 10/28/2020 at 23:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,997 sqft
  • Baths : 2 full , 1 half
Listing Agent

Resolution Realty

Listing Agent's Description

*THIS SPACIOUS 2-STORY HOME HAS THE WOW FACTOR!*Beautifully well-kept KB built home has all you're looking for including 5 possible bedrooms!*Front porch w/plenty of space for table/chairs*Upon entry you'll find yourself in the formal living/dining room*Family room in the rear of the home is made cozy w/fireplace & open to the kitchen*Awesome walk in pantry/lots of cabinets/Corian counters & island/all appliances stay*Downstairs den could be a bedroom with it's own en suite as bathroom could easily have a shower installed*Plush carpeted staircase leads you upstairs where an oversized loft welcomes you that can easily be another bedroom*Double door entry into primary bedroom! Primary bathroom has sep. step-in shower & soaking tub/high vanities & lrg mirrored walk-in closet*Secondary bdrms are super spacious*You'll find paradise out back as the phenomenal yard is peppered w/ a variety of fruit trees/plants/pavers & above ground spa that stays! New exterior fresh paint & water heater!

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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: 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
 

$386,910$472,890$429,900

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,586
Property Tax -$352
Property Insurance -$85
HOA -$20
Property Management Fees -$119
CASH FLOW
-$182

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.

$429,900

PROJECTED PRICE

$1,980

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.2%
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$119,674

INVESTMENT

$119,674

Down Payment
$107,475
Rehab Estimate
$5,750
Closing Costs
$6,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,586

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,475
Loan Amount $322,425
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$16,974

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $2,088

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,9803$2,0994$2,100
$2,100
RENT COMPS ANALYSIS
  • 1108 Plumstead Henderson, NV 2
    • 3 beds 3 baths ∙ 2,997 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,997 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $0.66
    •  
  • 1174 Calvert Street Henderson, NV 1
    • 4 beds 3 baths ∙ 2,805 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,805 Sqft ∙ Built 2006
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.64
    •  
  • 1204 Grove Park Street Henderson, NV 3
    • 4 beds 3 baths ∙ 2,805 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,805 Sqft ∙ Built 2006
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,099
    • $0.75
    •  
  • 145 Staplehurst Avenue Henderson, NV 4
    • 3 beds 3 baths ∙ 2,985 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,985 Sqft ∙ Built 2006
    LEASED 06/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.70
    •  
PROPERTY LISTING DETAILS
Ehren Alessi
1.702.800.5054
Resolution Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2242364
Last Updated: 10/28/2020
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