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116 Ocotillo Street Henderson, NV 89015

3 Beds 1 Baths 1,920 sqft Built 1953

$374,990

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $195.31
  • 6 Days on Market
  • MLS # : 2277364
  • Updated Date : 03/12/2021 at 01:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,920 sqft
  • Baths : 1 full
Listing Agent

Motion Properties

Listing Agent's Description

GORGEOUS single story Henderson home with NO HOA! 3 bed/2 bath, HUGE living room with wood burning FIREPLACE, separate family room with built-ins, backyard features COVERED PATIO and SPARKLING POOL! UPGRADED with NEW wood-look tile and carpet, QUARTZ countertops, CUSTOM backsplash, STAINLESS STEEL appliances, CUSTOM tub/shower surrounds, DESIGNER light and plumbing fixtures, FRESH two tone paint and MORE! Make an offer TODAY!

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: Valley View

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $74k340k

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

Neighborhood: Valley View

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8291825

* 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
Robert L. Taylor Elementary School Primary Regular 530 34 2
B. Mahlon Brown Junior High School Middle Regular 978 46 NA
Basic High School High Regular 2,367 100 3

Robert L. Taylor Elementary School

  • Education Level: Primary
  • # of students: 530
  • # of teachers: 34
2
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
 

$337,491$412,489$374,990

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$1,302
Property Tax -$102
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
-$158

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$374,990

PROJECTED PRICE

$1,430

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.3%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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-$5.0k$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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,122

INVESTMENT

$105,122

Down Payment
$93,748
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,302

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,748
Loan Amount $281,243
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$11,387

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,469

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,2453$1,4304$1,4505$1,550
$1,550
RENT COMPS ANALYSIS
  • 116 Ocotillo Street Henderson, NV 3
    • 3 beds 1 baths ∙ 1,920 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,920 Sqft ∙ Built 1953
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.74
    •  
  • 106 Hickory Street #0 Henderson, NV 1
    • 4 beds 1 baths ∙ 1,755 Sqft ∙ Built 1960 4 beds 1 baths ∙ 1,755 Sqft ∙ Built 1960
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.68
    •  
  • 571 National Street Henderson, NV 2
    • 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1953
    LEASED 10/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,245
    • $0.77
    •  
  • 125 Ivy Street Henderson, NV 4
    • 4 beds 2 baths ∙ 1,928 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,928 Sqft ∙ Built 1960
    LEASED 10/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.75
    •  
  • 110 Dogwood Street Henderson, NV 5
    • 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 1954
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.86
    •  
PROPERTY LISTING DETAILS
Michael Desilva
1.702.812.3206
Motion Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2277364
Last Updated: 03/12/2021
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