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147 Cascade Drive Henderson, NV 89074

2 Beds 2 Baths 1,234 sqft Built 1988

INVESTimate

$310,000

List Price

$1,230

$1,107 - $1,353

Rent Est.

$337,528  ( +8.88%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1988
  • Price/Sqft : $251.22
  • 7 Days on Market
  • MLS # : 2223608
  • Updated Date : 08/24/2020 at 11:13
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,234 sqft
  • Baths : 2 full
Listing Agent

Milestone Realty

Listing Agent's Description

THIS LOVLEY SINGLE STORY HOME IN HENDERSON IS A GREAT PLACE TO CALL HOME! WITH DEDICATED FEATURES SUCH AS CUSTOM CLOSETS, BEAUTIFUL UPGRADED COUNTERTOPS CORIAN, TRAVERTINE STONE IN BATHROOMS. AND SPIRAL STAIRCASE TO THE ROOF WITH STRIP VIEW/MOUNTAIN VIEWS. CLOSE TO ALL MAJOR SHOPPING! THIS HOME WONT LAST LONG.

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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: 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
Aggie Roberts Elementary School Primary Regular 805 39 7
Jack L. Schofield Middle School Middle Regular 1,332 51 NA
Silverado High School High Regular 2,263 94 5

Aggie Roberts Elementary School

  • Education Level: Primary
  • # of students: 805
  • # of teachers: 39
7
GreatSchools Rating

Jack L. Schofield Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 51
NA
GreatSchools Rating

Silverado High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
5
GreatSchools Rating
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,107$1,353$1,230

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,230
EXPENSES Loan Payment -$1,144
Property Tax -$146
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
-$230

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.

$310,000

PROJECTED PRICE

$1,230

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.88%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$7,059

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,230

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,231

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,230
1$1,2302$1,2503$1,2754$1,3005$1,350
$1,350
RENT COMPS ANALYSIS
  • 147 Cascade Drive Henderson, NV 1
    • 2 beds 2 baths ∙ 1,234 Sqft ∙ Built 1988 2 beds 2 baths ∙ 1,234 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,230
    • $1.00
    •  
  • 2826 Crystal Lantern Drive Henderson, NV 2
    • 2 beds 2 baths ∙ 1,247 Sqft ∙ Built 1992 2 beds 2 baths ∙ 1,247 Sqft ∙ Built 1992
    property image
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.00
    •  
  • 102 Blackberry Lane Henderson, NV 3
    • 2 beds 2 baths ∙ 1,311 Sqft ∙ Built 1986 2 beds 2 baths ∙ 1,311 Sqft ∙ Built 1986
    property image
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.97
    •  
  • 108 Blackberry Henderson, NV 4
    • 2 beds 3 baths ∙ 1,311 Sqft ∙ Built 1986 2 beds 3 baths ∙ 1,311 Sqft ∙ Built 1986
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.99
    •  
  • 118 Blueberry Lane Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,311 Sqft ∙ Built 1986 2 beds 2 baths ∙ 1,311 Sqft ∙ Built 1986
    property image
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.03
    •  
PROPERTY LISTING DETAILS
Jeff Chain
1.702.278.4935
Milestone Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223608
Last Updated: 08/24/2020
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