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1521 Price Street Henderson, NV 89011

3 Beds 2 Baths 1,586 sqft Built 1982

$299,900

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $189.09
  • 10 Days on Market
  • MLS # : 2270237
  • Updated Date : 02/20/2021 at 22:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,586 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

This Home Is A MUST SEE! Fantastic Single Story w/ Pool/Spa. This Three Bedroom (possible four) And Two Bath Home Has An Oversized Master w/Retreat, Rolladen Shutters On All Front Windows and a Front Entry Complete w/ Rod Iron Gated Private Courtyard. New HVAC Unit and Updated Interior. Upgraded Bathrooms w/ Custom Showers and Upgraded Kitchen. All for under $300K!

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: Pittman

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $72k340k

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

Neighborhood: Pittman

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500160017001800Rent in $7911825

* 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
Edna F. Hinman Elementary School Primary Regular 647 41 5
Lyal Burkholder Middle School Middle Regular 747 34 NA
Basic High School High Regular 2,367 100 3

Edna F. Hinman Elementary School

  • Education Level: Primary
  • # of students: 647
  • # of teachers: 41
5
GreatSchools Rating

Lyal Burkholder Middle School

  • Education Level: Middle
  • # of students: 747
  • # of teachers: 34
NA
GreatSchools Rating

Basic High School

  • Education Level: High
  • # of students: 2,367
  • # of teachers: 100
3
GreatSchools Rating
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$1,042
Property Tax -$141
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$80

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$299,900

PROJECTED PRICE

$1,440

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.5%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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

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$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

6.83

YEARS SAVED

$24,856

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,558

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4003$1,4004$1,4405$1,450
$1,450
RENT COMPS ANALYSIS
  • 1521 Price Street Henderson, NV 4
    • 3 beds 2 baths ∙ 1,586 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,586 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.91
    •  
  • 508 Van Dornum Avenue Henderson, NV 1
    • 4 beds 2 baths ∙ 1,436 Sqft ∙ Built 1982 4 beds 2 baths ∙ 1,436 Sqft ∙ Built 1982
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.97
    •  
  • 868 Adobe Flat Drive Henderson, NV 2
    • 3 beds 2 baths ∙ 1,382 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,382 Sqft ∙ Built 1999
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.01
    •  
  • 621 Indian Row Court Henderson, NV 3
    • 3 beds 2 baths ∙ 1,382 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,382 Sqft ∙ Built 1997
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.01
    •  
  • 1630 Lorna Drive Henderson, NV 5
    • 3 beds 3 baths ∙ 1,544 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,544 Sqft ∙ Built 1986
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.94
    •  
PROPERTY LISTING DETAILS
Adam L Fetterly
1.702.493.9302
Exp Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2270237
Last Updated: 02/20/2021
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