Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

111 Iridescent Street Henderson, NV 89012

3 Beds 2 Baths 1,780 sqft Built 2000

$350,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $196.63
  • 6 Days on Market
  • MLS # : 2268877
  • Updated Date : 02/10/2021 at 19:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,780 sqft
  • Baths : 2 full
Listing Agent

Signature Gallery Of Homes

Listing Agent's Description

Charming single-story, 3 bedroom home in Henderson with mountain views! This home has a bonus Den/Office Space! Primary bedroom features spacious walk in closet and en suite bathroom with separate shower and tub. Desert landscaping in front yard and back yard. Beat back the sun with a covered back porch!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Ulis Newton Elementary School Primary Regular 611 35 7
Jack And Terry Mannion Middle School Middle Regular 1,523 62 NA
Foothill High School High Regular 2,883 109 7

Ulis Newton Elementary School

  • Education Level: Primary
  • # of students: 611
  • # of teachers: 35
7
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
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,216
Property Tax -$217
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
$27

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.

$350,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.47%

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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$25,769

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,517

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4503$1,4994$1,6005$1,640
$1,640
RENT COMPS ANALYSIS
  • 111 Iridescent Street Henderson, NV 5
    • 3 beds 2 baths ∙ 1,780 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,780 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.92
    •  
  • 694 Solitude Point Avenue #0 Henderson, NV 1
    • 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 2000
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.83
    •  
  • 705 Principle Point Avenue Henderson, NV 2
    • 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 2003
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.89
    •  
  • 685 Principle Point Avenue #0 Henderson, NV 3
    • 4 beds 3 baths ∙ 1,738 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,738 Sqft ∙ Built 2004
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.86
    •  
  • 423 Palegold Street Henderson, NV 4
    • 3 beds 3 baths ∙ 1,930 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,930 Sqft ∙ Built 1999
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.83
    •  
PROPERTY LISTING DETAILS
Trish Nash
1.702.331.3948
Signature Gallery Of Homes
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2268877
Last Updated: 02/10/2021
BESbswy