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1165 Calico Ridge Drive Henderson, NV 89011

3 Beds 3 Baths 2,500 sqft Built 1999

$589,500

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $235.80
  • 5 Days on Market
  • MLS # : 2249139
  • Updated Date : 11/21/2020 at 08:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,500 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Southern Nevada

Listing Agent's Description

Perfect in every way! 3 bedroom & Den Rancher with triple garage, custom heated pool/spa with water slide, RV parking, Vaulted ceilings & accent lighting throughout this stunning home sells itself!! Quiet neighborhood 12 mins to Sunset Station, 5 mins to Lake Las Vegas and Henderson shopping. The kitchen features vaulted ceiling, granite counters, maple cabinets, large eating nook, breakfast bar and built in range and microwave. There is a gas fireplace in the adjoining family room and glass sliding door out to the private pool and spa area. The heated pool features a custom slide and is ready for summer fun! The living room is vaulted and wired for sound and features accent lighting throughout. Spacious master bedroom has dressing area, vaulted ceilings and fireplace. Ensuite with large travertine tiled shower and separate jetted tub with heat lamp, granite countertops, dual sinks and a walk in closet. Both bedrooms have large walk in closets and a share the central bath.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Calico Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k435k

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

Neighborhood: Calico Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10802043

* 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
 

$530,550$648,450$589,500

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$2,175
Property Tax -$313
Property Insurance -$76
Property Management Fees -$119
CASH FLOW
-$632

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.

$589,500

PROJECTED PRICE

$2,050

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

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$161,968

INVESTMENT

$161,968

Down Payment
$147,375
Rehab Estimate
$5,750
Closing Costs
$8,843

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,175

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $147,375
Loan Amount $442,125
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$3,819

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,044

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8953$2,0504$2,0505$2,400
$2,400
RENT COMPS ANALYSIS
  • 1165 Calico Ridge Drive Henderson, NV 4
    • 3 beds 3 baths ∙ 2,500 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,500 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.82
    •  
  • 924 Rhyolite Terrace Henderson, NV 1
    • 3 beds 2 baths ∙ 2,566 Sqft ∙ Built 1992 3 beds 2 baths ∙ 2,566 Sqft ∙ Built 1992
    property image
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.72
    •  
  • 942 Verdite Avenue Henderson, NV 2
    • 3 beds 3 baths ∙ 2,385 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,385 Sqft ∙ Built 1994
    property image
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.79
    •  
  • 940 Via Vannucci Henderson, NV 3
    • 3 beds 3 baths ∙ 2,384 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,384 Sqft ∙ Built 2010
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.86
    •  
  • 1016 Olivia Henderson, NV 5
    • 3 beds 2 baths ∙ 2,674 Sqft ∙ Built 2008 3 beds 2 baths ∙ 2,674 Sqft ∙ Built 2008
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.90
    •  
PROPERTY LISTING DETAILS
Karina N Jett
1.702.218.0162
Keller Williams Southern Nevada
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249139
Last Updated: 11/21/2020
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