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1373 European Drive Henderson, NV 89052

3 Beds 4 Baths 2,598 sqft Built 2002

INVESTimate

$534,900

List Price

$2,200

$1,980 - $2,420

Rent Est.

$571,327  ( +6.81%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2002
  • Price/Sqft : $205.89
  • 9 Days on Market
  • MLS # : 2221262
  • Updated Date : 08/18/2020 at 11:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,598 sqft
  • Baths : 3 full , 1 half
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Spacious floor plan with 3 bedrooms, 3.5 bathrooms and 2598 square feet. Inviting entry with double glass front doors leads to the formal living and dining room with vaulted ceiling. Spacious kitchen has an island with breakfast bar, granite counter tops, double ovens, upgraded cabinetry, built-in microwave and pantry. Family room is open to the kitchen with a fireplace and media niche. Main master suite is separate from other bedrooms with a door to the backyard, separate tub and shower, 2 sinks and a mirrored walk-in closet. Second master suite has bathroom and large walk-in closet. Beautiful backyard features lush, low maintenance landscaping, koi pond and wrought iron view fencing. Front yard has a gated courtyard with brick pavers. Thousands in upgrades including tile floors throughout high traffic areas, ceiling fans, upgraded lighting throughout, plantation shutters, reverse osmosis system, laundry room with sink and cabinets.

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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: Seven Hills

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k479k

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

Neighborhood: Seven Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10802338

* 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
Elise L. Wolff Elementary School Primary Regular 935 46 10
Del E Webb Middle School Middle Regular 1,863 74 NA
Coronado High School High Regular 3,240 124 10

Elise L. Wolff Elementary School

  • Education Level: Primary
  • # of students: 935
  • # of teachers: 46
10
GreatSchools Rating

Del E Webb Middle School

  • Education Level: Middle
  • # of students: 1,863
  • # of teachers: 74
NA
GreatSchools Rating

Coronado High School

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

$481,410$588,390$534,900

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,974
Property Tax -$353
Property Insurance -$78
HOA -$57
Property Management Fees -$119
CASH FLOW
-$380

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.

$534,900

PROJECTED PRICE

$2,200

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 6.81%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$147,499

INVESTMENT

$147,499

Down Payment
$133,725
Rehab Estimate
$5,750
Closing Costs
$8,024

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,974

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $133,725
Loan Amount $401,175
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$10,971

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,299

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,2003$2,3954$2,4505$2,750
$2,750
RENT COMPS ANALYSIS
  • 1373 European Drive Henderson, NV 2
    • 3 beds 4 baths ∙ 2,598 Sqft ∙ Built 2002 3 beds 4 baths ∙ 2,598 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.85
    •  
  • 1344 Echo Creek Street Henderson, NV 1
    • 3 beds 3 baths ∙ 2,464 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,464 Sqft ∙ Built 1999
    property image
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.81
    •  
  • 1316 Echo Creek Street #0 Henderson, NV 3
    • 4 beds 3 baths ∙ 2,774 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,774 Sqft ∙ Built 1998
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.86
    •  
  • 1304 Echo Creek Street Henderson, NV 4
    • 3 beds 3 baths ∙ 2,774 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,774 Sqft ∙ Built 1998
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.88
    •  
  • 3061 Blazing Creek Way Henderson, NV 5
    • 4 beds 2 baths ∙ 2,777 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,777 Sqft ∙ Built 1998
    property image
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.99
    •  
PROPERTY LISTING DETAILS
Michael L Carlucci
1.702.461.4422
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2221262
Last Updated: 08/18/2020
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