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1174 Water Street Henderson, NV 89011

4 Beds 3 Baths 2,151 sqft Built 2019

$474,990

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $220.82
  • 6 Days on Market
  • MLS # : 2251429
  • Updated Date : 12/05/2020 at 17:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,151 sqft
  • Baths : 3 full
Listing Agent

Urban Nest Realty

Listing Agent's Description

Come home to this absolutely stunning 1 story in Cadence. Over $100k in total upgrades. Upgraded flooring /cabinets & hardware, granite /quartz counters, Higher ceilings w/all 8’ doors /hallways t/o, 6.5" Baseboards, relax at night by the fire /ice fireplace in the great room w/special niches /stone accent walls & lights. Plantation shutters t/o, Fully landscaped backyard w/artificial turf, Extended patio cover, extended side wall, Gated court yard. No SID/LID!! You won't want to miss out on this one!

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: Cadence

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k600k

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

Neighborhood: Cadence

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10801929

* 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
C.t. Sewell Elementary School Primary Regular 833 41 8
B. Mahlon Brown Junior High School Middle Regular 978 46 NA
Basic High School High Regular 2,367 100 3

C.t. Sewell Elementary School

  • Education Level: Primary
  • # of students: 833
  • # of teachers: 41
8
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
 

$427,491$522,489$474,990

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,753
Property Tax -$341
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
-$261

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 11% of earned rent to cover both maintenance and periods of vacancy.

$474,990

PROJECTED PRICE

$2,020

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.2%
Maintenance Year (1-5) 3.00%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,872

INVESTMENT

$127,872

Down Payment
$118,748
Rehab Estimate
$2,000
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,748
Loan Amount $356,243
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$15,243

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,086

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9953$2,0204$2,1755$2,200
$2,200
RENT COMPS ANALYSIS
  • 1174 Water Street Henderson, NV 3
    • 4 beds 3 baths ∙ 2,151 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,151 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.94
    •  
  • 384 Ambitious Henderson, NV 1
    • 3 beds 3 baths ∙ 2,066 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,066 Sqft ∙ Built 2017
    property image
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.94
    •  
  • 370 Inflection Street Henderson, NV 2
    • 3 beds 2 baths ∙ 2,151 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,151 Sqft ∙ Built 2018
    property image
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.93
    •  
  • 285 Resolute Henderson, NV 4
    • 4 beds 3 baths ∙ 2,325 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,325 Sqft ∙ Built 2018
    property image
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.94
    •  
  • 517 Cadence View Way Henderson, NV 5
    • 3 beds 2 baths ∙ 2,048 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,048 Sqft ∙ Built 2016
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.07
    •  
PROPERTY LISTING DETAILS
Angela Atherley-hernande
1.702.591.9667
Urban Nest Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2251429
Last Updated: 12/05/2020
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