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1158 Paradise Desert Avenue Henderson, NV 89002

3 Beds 3 Baths 1,288 sqft Built 2006

$240,000

List Price

$1,230

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $186.34
  • 2 Days on Market
  • MLS # : 2247648
  • Updated Date : 11/14/2020 at 07:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,288 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Open and airy well kept home in Henderson! Nestled in a gated community, this home has ample parking and pool close by. Interior was freshly painted and brand new carpet upstairs! Exterior was painted within the year. HOA covers front landscaping, sewer & water.

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
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,107$1,353$1,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,230
EXPENSES Loan Payment -$886
Property Tax -$163
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
$10

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.

$240,000

PROJECTED PRICE

$1,230

PROJECTED RENT

0.51%

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$20,521

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,230

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,224

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,230
1$1,2302$1,3003$1,3504$1,3505$1,350
$1,350
RENT COMPS ANALYSIS
  • 1158 Paradise Desert Avenue Henderson, NV 1
    • 3 beds 3 baths ∙ 1,288 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,288 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,230
    • $0.95
    •  
  • 1138 Grass Pond Place #2 Henderson, NV 2
    • 3 beds 3 baths ∙ 1,412 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,412 Sqft ∙ Built 2006
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.92
    •  
  • 1142 Heavenly Harvest Place #2 Henderson, NV 3
    • 3 beds 3 baths ∙ 1,413 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,413 Sqft ∙ Built 2006
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.96
    •  
  • 1146 Grass Pond Place #2 Henderson, NV 4
    • 3 beds 3 baths ∙ 1,413 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,413 Sqft ∙ Built 2006
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.96
    •  
  • 1090 Elation Lane #102 Henderson, NV 5
    • 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 2005
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.96
    •  
PROPERTY LISTING DETAILS
Serena M Heuser
1.702.508.0996
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2247648
Last Updated: 11/14/2020
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