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125 Racetrack Road Henderson, NV 89015

3 Beds 3 Baths 3,374 sqft Built 2003

$1,200,000

List Price

$2,800

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $355.66
  • 2 Days on Market
  • MLS # : 2260668
  • Updated Date : 01/17/2021 at 04:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,374 sqft
  • Baths : 2 full , 1 half
Listing Agent

Orange Realty Group Llc

Listing Agent's Description

A must see..NO HOA BRING THE TOYS .This home has so many well thought out upgrades...Including an outside shower, 9x8 pool storage room , 4 Air conditioners, 521 Sq Ft Casita (with A/C and swamp cooler), Gas pool Heater, Fiberglass Pool and Spa complete with safety gate and cool decking, natural gas Fire Pit, Sauna (in primary bathroom),Primary bedroom is 27x16 , Jetted Tub in Primary Bath, 2 walk in closets in primary Bedroom, Crown Molding , Beautiful Coffered ceilings in Dining and Livingroom, 70 Kyocera Solar panels PAID OFF, Smart Box for Cameras Phone and Cable, Security System, Surround sound including outside and 5 car 1103 Sq Ft Garage, Epoxy flooring in Garage, Cable ,Phone ,Intercom, Ceiling fans in Garage, Central Vacuum, Water softener, Intercom system including Garage, Casita, RV Parking, Balconies have a current amazing view of the Las Vegas Strip and Mountains, and still room to grow on this .77 Acre or 33,541 Sq Ft lot... BRING THE HORSES..A WELL DESIGNED HOME 4 U!

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MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Foothills

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $121k355k

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

Neighborhood: Foothills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10081825

* 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
Sue Morrow Elementary School Primary Regular 734 38 9
B. Mahlon Brown Junior High School Middle Regular 978 46 NA
Basic High School High Regular 2,367 100 3

Sue Morrow Elementary School

  • Education Level: Primary
  • # of students: 734
  • # of teachers: 38
9
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
 

$1,080,000$1,320,000$1,200,000

PURCHASE PRICE

$2,520$3,080$2,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,800
EXPENSES Loan Payment -$4,168
Property Tax -$516
Property Insurance -$93
Property Management Fees -$119
CASH FLOW
-$2,095

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.

$1,200,000

PROJECTED PRICE

$2,800

PROJECTED RENT

0.23%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.9%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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$2.5M$3.0M$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$323,750

INVESTMENT

$323,750

Down Payment
$300,000
Rehab Estimate
$5,750
Closing Costs
$18,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$4,168

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $300,000
Loan Amount $900,000
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$97

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,800

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,531

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,750
1$2,7502$2,800
$2,800
RENT COMPS ANALYSIS
  • 125 Racetrack Road Henderson, NV 2
    • 3 beds 3 baths ∙ 3,374 Sqft ∙ Built 2003 3 beds 3 baths ∙ 3,374 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.83
    •  
  • 849 Bussora Rose Drive Henderson, NV 1
    • 3 beds 3 baths ∙ 3,663 Sqft ∙ Built 2004 3 beds 3 baths ∙ 3,663 Sqft ∙ Built 2004
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.75
    •  
PROPERTY LISTING DETAILS
Josephine F Koumbis
1.702.480.3016
Orange Realty Group Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2260668
Last Updated: 01/17/2021
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