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1135 Casa Palermo Circle Henderson, NV 89011

5 Beds 5 Baths 3,397 sqft Built 2005

$765,000

List Price

$3,190

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $225.20
  • 38 Days on Market
  • MLS # : 2253845
  • Updated Date : 01/06/2021 at 10:30
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,397 sqft
  • Baths : 4 full , 1 half
Listing Agent

Wardley Real Estate

Listing Agent's Description

Enjoy sunrise & sunset from the oversized backyard with stunning views of the waterfall. Just ¼ mile from the Sports Club, this home backs up to walking trails making it ideal for community interaction! Rear gate allows for quick access. Huge master bedroom has a great walk-in closet, jacuzzi tub, 2-person shower & sinks, & balcony w/ beautiful views of the valley. Great Room is great for entertaining w/ 20’ ceiling & powder room. Casita can be in-law suite w/ its own HVAC, en suite, & kitchenette! Downstairs guest room has large bathroom w/ storage. Kitchen features built-in 48” Thermador fridge, Bosch ovens, wet bar, & wine rack. Family Room has a cozy fireplace & built-in surround sound. Patio is perfect for morning coffee or afternoon cocktails. Volcano jet in the spa is a must see. Membership to Club transfers w/ purchase of the home (dues extra). Amenities include gym, Olympic sized pool, steam room, weekly social events, and more! Ask your REALTOR® for a Sports Club tour.

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: Lake Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $123k449k

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

Neighborhood: Lake Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10803087

* 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
Josh Stevens Elementary School Primary Unknown NA
B. Mahlon Brown Junior High School Middle Regular 978 46 NA
Basic High School High Regular 2,367 100 3

Josh Stevens Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
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
 

$688,500$841,500$765,000

PURCHASE PRICE

$2,871$3,509$3,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,190
EXPENSES Loan Payment -$2,657
Property Tax -$464
Property Insurance -$93
Property Management Fees -$119
CASH FLOW
-$143

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.

$765,000

PROJECTED PRICE

$3,190

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.7%
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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k$35k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$208,475

INVESTMENT

$208,475

Down Payment
$191,250
Rehab Estimate
$5,750
Closing Costs
$11,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,657

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $191,250
Loan Amount $573,750
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$38,450

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,190

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $3,312

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$2,9703$3,1904$3,4005$3,500
$3,500
RENT COMPS ANALYSIS
  • 1135 Casa Palermo Circle Henderson, NV 3
    • 5 beds 5 baths ∙ 3,397 Sqft ∙ Built 2005 5 beds 5 baths ∙ 3,397 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $3,190
    • $0.94
    •  
  • 64 Strada Principale #403 Henderson, NV 1
    • 4 beds 4 baths ∙ 3,204 Sqft ∙ Built 2008 4 beds 4 baths ∙ 3,204 Sqft ∙ Built 2008
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.91
    •  
  • 23 Villa Marsala Court Henderson, NV 2
    • 4 beds 4 baths ∙ 3,065 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,065 Sqft ∙ Built 2006
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,970
    • $0.97
    •  
  • 14 Hilltop Crest Street Henderson, NV 4
    • 4 beds 4 baths ∙ 3,447 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,447 Sqft ∙ Built 2018
    LEASED 09/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $0.99
    •  
  • 1139 Casa Palermo Circle Henderson, NV 5
    • 5 beds 5 baths ∙ 3,397 Sqft ∙ Built 2005 5 beds 5 baths ∙ 3,397 Sqft ∙ Built 2005
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.03
    •  
PROPERTY LISTING DETAILS
Nicholas T Pangallo
1.702.612.0131
Wardley Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2253845
Last Updated: 01/06/2021
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