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1406 Hometown Avenue Henderson, NV 89074

3 Beds 2 Baths 1,444 sqft Built 1998

$329,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $227.84
  • 6 Days on Market
  • MLS # : 2265576
  • Updated Date : 02/06/2021 at 20:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,444 sqft
  • Baths : 2 full
Listing Agent

Platinum R.e. Professionals

Listing Agent's Description

Lovely single-story home on corner lot! 3-bedroom, 2 baths. Home features tile and wood floors throughout. Spacious kitchen and living room. Matching and upgraded kitchen appliances. Shutters throughout the home. Home offers ceiling fans to keep energy costs down, and updated dinette lighting. Beautiful and easily maintained landscaping with concrete backyard deck. Low HOA. Separate laundry room. Water treatment system that you have to see to believe! New solars screens on doors and windows. New paint and stucco. The water is treated throughout for inside, drinking and landscaping. Close to shopping, Dutch Brothers, and Arroyo Grande Sports Complex, dog park. Don’t wait on this one, you might miss it.

SEE MORE

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: Gibson Springs

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $121k340k

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

Neighborhood: Gibson Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10801825

* 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
Green Valley High School High Regular 3,092 122 9

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

Green Valley High School

  • Education Level: High
  • # of students: 3,092
  • # of teachers: 122
9
GreatSchools Rating
 

$296,100$361,900$329,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$1,143
Property Tax -$179
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
$74

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.

$329,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.8%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$92,935

INVESTMENT

$92,935

Down Payment
$82,250
Rehab Estimate
$5,750
Closing Costs
$4,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,143

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,250
Loan Amount $246,750
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$28,708

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,408

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4003$1,4504$1,4955$1,570
$1,570
RENT COMPS ANALYSIS
  • 1406 Hometown Avenue Henderson, NV 5
    • 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $1.09
    •  
  • 1603 Colloquium Drive #0 Henderson, NV 1
    • 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 2001
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.93
    •  
  • 1440 Red Sunset Henderson, NV 2
    • 3 beds 2 baths ∙ 1,443 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,443 Sqft ∙ Built 1998
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.97
    •  
  • 1602 Hennepin Drive Henderson, NV 3
    • 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 2001
    LEASED 12/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.96
    •  
  • 273 Cascading Henderson, NV 4
    • 3 beds 2 baths ∙ 1,443 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,443 Sqft ∙ Built 1998
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.04
    •  
PROPERTY LISTING DETAILS
Richard E Turley
1.702.637.0640
Platinum R.e. Professionals
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2265576
Last Updated: 02/06/2021
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