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13 Palazzo Terrace Henderson, NV 89074

3 Beds 3 Baths 2,466 sqft Built 1994

$444,900

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $180.41
  • 3 Days on Market
  • MLS # : 2276555
  • Updated Date : 03/06/2021 at 22:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,466 sqft
  • Baths : 2 full , 1 half
Listing Agent

Resolution Realty

Listing Agent's Description

Beautiful 2 Story Home with Gorgeous Updates & Awesome Backyard! Thru the Custom Security Door * Upon Entry you will find yourself in the Living/ Dining area with alot of Natural Light * Renovated Kitchen has New SS Appliances, Quartz Countertops, Island, Custom Cabinets 15"x36" ,New Light Fixtures,New Flooring * a Family Room with Fireplace, Custom Window Coverings & New Tinted Glass Slider. * Master Bedroom is Downstairs with French Doors leading outside to a Stunning Patio Area. * Master Bath with His & Hers Vanities, Walk In Closets, New Walk In Shower. Laundry Room & 1/2 bath downstairs. Upstairs contains New Carpet, *the Loft Area with Built-In Work Station, Bathroom with Dual Sinks, Bathtub/Shower Combo, * 2nd Bedroom newly painted with Plantation Shutters * 3rd Bedroom has Unique Crawl Space for addt'l storage. 3 Car Garage has Storage Cabinets, Racks * Polyurea Custom Floor Coating * New Garage Door Opener *New Water Heater. Backyard has a Putting Green & Mature Landscaping.

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: Green Valley South

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k362k

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

Neighborhood: Green Valley South

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
Selma F. Bartlett Elementary School Primary Regular 682 35 10
Barbara And Hank Greenspun Middle School Middle Regular 1,397 55 NA
Coronado High School High Regular 3,240 124 10

Selma F. Bartlett Elementary School

  • Education Level: Primary
  • # of students: 682
  • # of teachers: 35
10
GreatSchools Rating

Barbara And Hank Greenspun Middle School

  • Education Level: Middle
  • # of students: 1,397
  • # of teachers: 55
NA
GreatSchools Rating

Coronado High School

  • Education Level: High
  • # of students: 3,240
  • # of teachers: 124
10
GreatSchools Rating
 

$400,410$489,390$444,900

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,545
Property Tax -$218
Property Insurance -$75
Property Management Fees -$119
CASH FLOW
$73

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.

$444,900

PROJECTED PRICE

$2,030

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.9%
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$123,649

INVESTMENT

$123,649

Down Payment
$111,225
Rehab Estimate
$5,750
Closing Costs
$6,674

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,545

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $111,225
Loan Amount $333,675
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$37,149

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,176

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0303$2,1004$2,2505$2,500
$2,500
RENT COMPS ANALYSIS
  • 13 Palazzo Terrace Henderson, NV 2
    • 3 beds 3 baths ∙ 2,466 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,466 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.82
    •  
  • 1332 Spice Ridge Court Henderson, NV 1
    • 4 beds 2 baths ∙ 2,404 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,404 Sqft ∙ Built 2007
    property image
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.83
    •  
  • 78 Graythorn Mountain Court Henderson, NV 3
    • 3 beds 3 baths ∙ 2,358 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,358 Sqft ∙ Built 1996
    property image
    LEASED 12/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.89
    •  
  • 1458 Verde Domenica Henderson, NV 4
    • 4 beds 3 baths ∙ 2,617 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,617 Sqft ∙ Built 2000
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.86
    •  
  • 143 Wentworth Drive Henderson, NV 5
    • 4 beds 2 baths ∙ 2,623 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,623 Sqft ∙ Built 1994
    property image
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.95
    •  
PROPERTY LISTING DETAILS
Linda Eden
1.702.280.4482
Resolution Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2276555
Last Updated: 03/06/2021
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