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1561 Rawhide Drive Henderson, NV 89002

3 Beds 1 Baths 2,153 sqft Built 1978

INVESTimate

$499,000

List Price

$1,610

$1,449 - $1,771

Rent Est.

$552,992  ( +10.82%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1978
  • Price/Sqft : $231.77
  • 8 Days on Market
  • MLS # : 2222927
  • Updated Date : 08/21/2020 at 11:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,153 sqft
  • Baths : 1 full
Listing Agent

Bhgre Universal

Listing Agent's Description

AWESOME 1 STORY HOME ON 16,117 SF LOT. NO HOA & ZONED FOR HORSES IN THIS COMMUNITY! PLENTY OF ROOM FOR ALL THE TOYS WITH A DETACHED 36X24 GARAGE IN ADDITION TO THE ATTACHED GARAGE! AN AMAZING 35X13 ALUMINUM RV OR CARPORT. THE KITCHEN HAS BEEN UPGRADED WITH GRANITE COUNTERTOPS AND APPLIANCES. THE BREAKFAST BAR IS A GREAT SPACE FOR ENTERTAINING. THIS HOME ALSO BOASTS 2 CUSTOM WALK-IN SHOWERS PLUS A FULL BATHROOM. LOTS OF LAMINATE WOOD AND TILE FLOORING THROUGHOUT. THE BACKYARD IS READY FOR THOSE BBQ PARTIES WITH A 42X14 COVERED PATIO WHICH INCLUDES A BUILT IN FIRE PIT. THE DEN CAN EASILY BE CONVERTED TO A 4TH BEDROOM AS IT ALREADY HAS A CLOSET NOOK. THIS HOME IS READY TO BE ENJOYED!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

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-$10k-$5.0k$0.0$5.0k$10k

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$1,841
Property Tax -$222
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
-$641

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

$1,610

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.82%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

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 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,841

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,051

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,658

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6103$1,6994$1,7005$1,735
$1,735
RENT COMPS ANALYSIS
  • 1561 Rawhide Drive Henderson, NV 2
    • 3 beds 1 baths ∙ 2,153 Sqft ∙ Built 1978 3 beds 1 baths ∙ 2,153 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.75
    •  
  • 2132 Buckeye Reef Street Henderson, NV 1
    • 3 beds 3 baths ∙ 2,168 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,168 Sqft ∙ Built 1996
    LEASED 06/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.69
    •  
  • 1124 Sport Of Kings Avenue Henderson, NV 3
    • 4 beds 2 baths ∙ 2,023 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,023 Sqft ∙ Built 1996
    LEASED 02/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.84
    •  
  • 1034 Beaver Crest Terrace Henderson, NV 4
    • 3 beds 2 baths ∙ 2,321 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,321 Sqft ∙ Built 1998
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.73
    •  
  • 1152 Pincay Henderson, NV 5
    • 4 beds 2 baths ∙ 2,110 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,110 Sqft ∙ Built 1997
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,735
    • $0.82
    •  
PROPERTY LISTING DETAILS
Judson G Carpenter
1.702.301.8275
Bhgre Universal
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222927
Last Updated: 08/21/2020
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