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1481 Rancho Ridge Drive Henderson, NV 89012

6 Beds 3 Baths 2,834 sqft Built 1998

$530,000

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $187.01
  • 12 Days on Market
  • MLS # : 2256379
  • Updated Date : 12/24/2020 at 12:00
CONSTRUCTION
  • Beds : 6
  • Floor Size : 2,834 sqft
  • Baths : 2 full , 1 half
Listing Agent

Western Realty

Listing Agent's Description

HONEY STOP THE CAR. Beautiful 2 Story Home with Pool & Private Spa. Pool has child safety fence that opens with a key. Newly painted, carpets professionally cleaned. 6th bedroom is loft with a closet. Window Treatments throughout.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Green Valley Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k396k

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

Neighborhood: Green Valley Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10802045

* 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
John Vanderburg Elementary School Primary Regular 929 45 10
Bob Miller Middle School Middle Regular 1,600 59 NA
Coronado High School High Regular 3,240 124 10

John Vanderburg Elementary School

  • Education Level: Primary
  • # of students: 929
  • # of teachers: 45
10
GreatSchools Rating

Bob Miller Middle School

  • Education Level: Middle
  • # of students: 1,600
  • # of teachers: 59
NA
GreatSchools Rating

Coronado High School

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

$477,000$583,000$530,000

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,955
Property Tax -$300
Property Insurance -$82
Property Management Fees -$119
CASH FLOW
-$267

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.

$530,000

PROJECTED PRICE

$2,190

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.1%
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$1.8M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$146,200

INVESTMENT

$146,200

Down Payment
$132,500
Rehab Estimate
$5,750
Closing Costs
$7,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,955

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $132,500
Loan Amount $397,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$19,406

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,203

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1003$2,1504$2,1905$2,275
$2,275
RENT COMPS ANALYSIS
  • 1481 Rancho Ridge Drive Henderson, NV 4
    • 4 beds 3 baths ∙ 2,834 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,834 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.77
    •  
  • 1594 Bozeman Drive Henderson, NV 1
    • 4 beds 3 baths ∙ 2,813 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,813 Sqft ∙ Built 1998
    property image
    LEASED 02/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.75
    •  
  • 1672 Clovercrest Henderson, NV 2
    • 5 beds 3 baths ∙ 2,661 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,661 Sqft ∙ Built 2005
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.79
    •  
  • 1402 Blaine Ranch Street Henderson, NV 3
    • 5 beds 2 baths ∙ 2,983 Sqft ∙ Built 1998 5 beds 2 baths ∙ 2,983 Sqft ∙ Built 1998
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.72
    •  
  • 374 Glocker Court Henderson, NV 5
    • 3 beds 2 baths ∙ 2,689 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,689 Sqft ∙ Built 2001
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,275
    • $0.85
    •  
PROPERTY LISTING DETAILS
Barbara A Brown
1.702.813.3230
Western Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2256379
Last Updated: 12/24/2020
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