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1201 Grove Park Street Henderson, NV 89002

4 Beds 3 Baths 2,805 sqft Built 2006

$415,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $147.95
  • 3 Days on Market
  • MLS # : 2250460
  • Updated Date : 11/27/2020 at 16:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,805 sqft
  • Baths : 2 full , 1 half
Listing Agent

Best Management Team Llc

Listing Agent's Description

HENDERSON DREAM HOME! This 4 Bedroom Home shows price of ownership! Open floor plan, huge loft area, window shutters! Carpet and hard floors throughout! Designer paint scheme, Upgraded counter tops, huge kitchen pantry! Professional Desert Landscaping in front yard and artificial turf in rear yard.

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: Paradise Hills

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k393k

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

Neighborhood: Paradise Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10801875

* 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
James E And A Rae Smalley Elementary School Primary Regular 878 40 10
Jack And Terry Mannion Middle School Middle Regular 1,523 62 NA
Foothill High School High Regular 2,883 109 7

James E And A Rae Smalley Elementary School

  • Education Level: Primary
  • # of students: 878
  • # of teachers: 40
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
 

$373,500$456,500$415,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,531
Property Tax -$259
Property Insurance -$82
Property Management Fees -$119
CASH FLOW
$110

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.

$415,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.2%
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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

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$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$45,582

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,139

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0993$2,1004$2,1955$2,495
$2,495
RENT COMPS ANALYSIS
  • 1201 Grove Park Street Henderson, NV 3
    • 4 beds 3 baths ∙ 2,805 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,805 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.75
    •  
  • 1135 Grove Park Street Henderson, NV 1
    • 5 beds 3 baths ∙ 2,805 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,805 Sqft ∙ Built 2005
    LEASED 07/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.71
    •  
  • 1204 Grove Park Street Henderson, NV 2
    • 4 beds 3 baths ∙ 2,805 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,805 Sqft ∙ Built 2006
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,099
    • $0.75
    •  
  • 1156 Highbury Grove Street Henderson, NV 4
    • 4 beds 3 baths ∙ 2,805 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,805 Sqft ∙ Built 2006
    LEASED 08/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.78
    •  
  • 120 Clouded Avenue Henderson, NV 5
    • 4 beds 3 baths ∙ 3,070 Sqft ∙ Built 2016 4 beds 3 baths ∙ 3,070 Sqft ∙ Built 2016
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.81
    •  
PROPERTY LISTING DETAILS
Eric J Owings
1.702.358.9288
Best Management Team Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2250460
Last Updated: 11/27/2020
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