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1135 Paradise Garden Drive Henderson, NV 89002

3 Beds 3 Baths 1,611 sqft Built 2005

$292,500

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $181.56
  • 7 Days on Market
  • MLS # : 2261126
  • Updated Date : 01/19/2021 at 19:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,611 sqft
  • Baths : 2 full , 1 half
Listing Agent

Simply Vegas

Listing Agent's Description

Well-maintained, 3 bdrm home in gated community. Home features balcony w/mountain views, covered front porch, shutters, hardwood floors, upgraded cabinets, wooden stair banister, upgraded baseboards, reverse osmosis, new water heater, extra living space (loft) upstairs for office or play area. Community pools, basketball, 24/7 security, park/playground, no rear neighbor, private courtyard backyard.

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: Mission Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $113k362k

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

Neighborhood: Mission Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10781875

* 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
J. Marlan Walker International Elementary School Primary Regular 628 39 10
Jack And Terry Mannion Middle School Middle Regular 1,523 62 NA
Foothill High School High Regular 2,883 109 7

J. Marlan Walker International Elementary School

  • Education Level: Primary
  • # of students: 628
  • # of teachers: 39
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
 

$263,250$321,750$292,500

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$1,016
Property Tax -$182
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$84

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.

$292,500

PROJECTED PRICE

$1,460

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.5%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,263

INVESTMENT

$83,263

Down Payment
$73,125
Rehab Estimate
$5,750
Closing Costs
$4,388

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,016

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,125
Loan Amount $219,375
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$27,401

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,462

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,325
1$1,3252$1,3953$1,4504$1,4605$1,550
$1,550
RENT COMPS ANALYSIS
  • 1135 Paradise Garden Drive Henderson, NV 4
    • 3 beds 3 baths ∙ 1,611 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,611 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.91
    •  
  • 1146 Paradise Vista Drive #0 Henderson, NV 1
    • 3 beds 3 baths ∙ 1,478 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,478 Sqft ∙ Built 2005
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.90
    •  
  • 1101 Paradise Resort Drive #0 Henderson, NV 2
    • 3 beds 3 baths ∙ 1,611 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,611 Sqft ∙ Built 2005
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.87
    •  
  • 1150 Safari Creek Drive #none Henderson, NV 3
    • 3 beds 3 baths ∙ 1,611 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,611 Sqft ∙ Built 2006
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.90
    •  
  • 1124 Paradise Vista Drive Henderson, NV 5
    • 3 beds 3 baths ∙ 1,611 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,611 Sqft ∙ Built 2005
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.96
    •  
PROPERTY LISTING DETAILS
Eric Gorton
1.702.296.2254
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261126
Last Updated: 01/19/2021
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