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1151 Paradise Mountain Trail Henderson, NV 89002

2 Beds 3 Baths 1,478 sqft Built 2006

$274,900

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $185.99
  • 5 Days on Market
  • MLS # : 2271958
  • Updated Date : 02/27/2021 at 00:09
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,478 sqft
  • Baths : 2 full , 1 half
Listing Agent

Signature Real Estate Group

Listing Agent's Description

Fantastic Gated Community. Move-in Ready. Interior has been recently remodeled* Awesome Floorplan is set-up as a 2 bdrm with a loft by the builder. The kitchen has Granite countertops, a Kitchen island, pantry, recessed lighting, newer dishwasher, and stove. Huge Master Bdrm, walk-in closet. AC and water heater approx 1year old. Surround sound wired. Expanded driveway for additional parking. No neighbors behind. One of the community pools just steps away. Playground, basketball courts, and clubhouse are all conveniently located. The market is hot and this home could be yours if you move quickly!!

SEE MORE

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: 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
 

$247,410$302,390$274,900

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$955
Property Tax -$174
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
$57

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.

$274,900

PROJECTED PRICE

$1,360

PROJECTED RENT

0.49%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$23,519

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,419

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,145
1$1,1452$1,3603$1,3954$1,450
$1,450
RENT COMPS ANALYSIS
  • 1151 Paradise Mountain Trail Henderson, NV 2
    • 2 beds 3 baths ∙ 1,478 Sqft ∙ Built 2006 2 beds 3 baths ∙ 1,478 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.92
    •  
  • 1089 Pleasure Lane #1 Henderson, NV 1
    • 2 beds 2 baths ∙ 1,181 Sqft ∙ Built 2006 2 beds 2 baths ∙ 1,181 Sqft ∙ Built 2006
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,145
    • $0.97
    •  
  • 1087 Luna Eclipse Lane #3 Henderson, NV 3
    • 2 beds 3 baths ∙ 1,433 Sqft ∙ Built 2006 2 beds 3 baths ∙ 1,433 Sqft ∙ Built 2006
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.97
    •  
  • 1173 Paradise Home Road Henderson, NV 4
    • 2 beds 3 baths ∙ 1,542 Sqft ∙ Built 2007 2 beds 3 baths ∙ 1,542 Sqft ∙ Built 2007
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.94
    •  
PROPERTY LISTING DETAILS
Gregory S Thurston
1.702.528.2424
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2271958
Last Updated: 02/27/2021
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