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1560 Latigo Drive Henderson, NV 89002

4 Beds 3 Baths 2,406 sqft Built 1978

$499,000

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $207.40
  • 4 Days on Market
  • MLS # : 2259299
  • Updated Date : 01/08/2021 at 11:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,406 sqft
  • Baths : 3 full
Listing Agent

General Realty Group Inc

Listing Agent's Description

ABSOLUTE STUNNER-better than new-DESIGNER MINI ESTATE HOME that will take your breath away! CUST. WHITE SPARKLE QUARTZ counters,huge breakfast bar with pendant lights, GIANT KITCHEN w/NEW SHAKER WHITE WOOD CABINETS w/modern handles, Stainless APPLIANCES, GREY vynl/wood floor, 2 MASTER BEDROOMS WITH ENSUITE BATHS-walk in shower-STUNNING TILE, 2 TONE paint, NEW carpet, CAN lighting,HUGE 16,117 SQ FT. LOT (almost 1/2 acre) & Big pool sized YARD, zoned for HORSES! HUGE LIVING ROOM OPEN FLOOR PLAN! Common bath with stunning tile! HUMONGOUS HUGE MASTER BEDROOM with big walk in closet. Barn door! CUSTOM MASTER BATH IS SO BIG & OPULENT--SPA WITH SOAKING BOWL TUB AND BIG WALK IN SHOWER. SEPARATE WATER CLOSET. New paint inside and out, stucco exterior. Blinds throughout, new doors and the list goes on and on!! THIS IS A DREAM HOME AT A GREAT PRICE. EXCELLENT QUIET HENDERSON NEIGHBORHOOD OF CUSTOM HOMES. Close to park. WILL GO FAST.

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: River Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k362k

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

Neighborhood: River Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9911875

* 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 Dooley Elementary School Primary Regular 416 27 8
B. Mahlon Brown Junior High School Middle Regular 978 46 NA
Basic High School High Regular 2,367 100 3

John Dooley Elementary School

  • Education Level: Primary
  • # of students: 416
  • # of teachers: 27
8
GreatSchools Rating

B. Mahlon Brown Junior High School

  • Education Level: Middle
  • # of students: 978
  • # of teachers: 46
NA
GreatSchools Rating

Basic High School

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

$449,100$548,900$499,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,733
Property Tax -$187
Property Insurance -$74
Property Management Fees -$119
CASH FLOW
-$273

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.

$499,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.8%
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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,733

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$13,539

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,937

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7353$1,8404$1,8955$1,945
$1,945
RENT COMPS ANALYSIS
  • 1560 Latigo Drive Henderson, NV 3
    • 4 beds 3 baths ∙ 2,406 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,406 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.76
    •  
  • 1034 Beaver Crest Terrace Henderson, NV 1
    • 3 beds 2 baths ∙ 2,321 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,321 Sqft ∙ Built 1998
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.73
    •  
  • 1152 Pincay Henderson, NV 2
    • 4 beds 2 baths ∙ 2,110 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,110 Sqft ∙ Built 1997
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,735
    • $0.82
    •  
  • 1126 Galangate Avenue #1126 Henderson, NV 4
    • 3 beds 2 baths ∙ 2,183 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,183 Sqft ∙ Built 1996
    property image
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.87
    •  
  • 581 Broomspun Street Henderson, NV 5
    • 4 beds 3 baths ∙ 2,436 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,436 Sqft ∙ Built 1997
    property image
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.80
    •  
PROPERTY LISTING DETAILS
Debra Wohlschlegel
1.808.780.6613
General Realty Group Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2259299
Last Updated: 01/08/2021
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