Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1597 Ravanusa Drive Henderson, NV 89052

5 Beds 4 Baths 2,855 sqft Built 2000

$579,900

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $203.12
  • 2 Days on Market
  • MLS # : 2243562
  • Updated Date : 11/02/2020 at 13:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,855 sqft
  • Baths : 3 full , 1 half
Listing Agent

1st Source Realty

Listing Agent's Description

Fantastic 5 bedroom home located in the gated Majestic Hills community within Seven Hills. Many fabulous features in this home. The downstairs include exquisite granite flooring, plantation shutters, crown molding and 2 bedrooms. The 1st downstairs bedroom has full bath attached with the right amount of privacy for any long term guests. 2nd bedroom is just the right space for an office/den including a closet with a 3/4 bath. The spacious kitchen features new stainless appliances, island, LED cabinet underlighting, granite countertops with tile backsplash and a 5 burner cooktop. Upstairs has an additional 2 big bedrooms plus the Master bedroom. Large Master features bath with jet tub, all tile and most importantly, a balcony that offers a spectacular view of the (Hills) of Seven Hills and an additional staircase that takes you to the fabulous backyard. The backyard provides a full length covered patio with ceiling fans, pool and spa and a special cabana/changing room.

SEE MORE

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: Seven Hills

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k479k

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

Neighborhood: Seven Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10802338

* 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
Elise L. Wolff Elementary School Primary Regular 935 46 10
Del E Webb Middle School Middle Regular 1,863 74 NA
Coronado High School High Regular 3,240 124 10

Elise L. Wolff Elementary School

  • Education Level: Primary
  • # of students: 935
  • # of teachers: 46
10
GreatSchools Rating

Del E Webb Middle School

  • Education Level: Middle
  • # of students: 1,863
  • # of teachers: 74
NA
GreatSchools Rating

Coronado High School

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

$521,910$637,890$579,900

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$2,140
Property Tax -$359
Property Insurance -$82
Property Management Fees -$119
CASH FLOW
-$210

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.

$579,900

PROJECTED PRICE

$2,490

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 6.8%
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$25k

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$159,424

INVESTMENT

$159,424

Down Payment
$144,975
Rehab Estimate
$5,750
Closing Costs
$8,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,140

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $144,975
Loan Amount $434,925
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$27,300

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,591

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,490
1$2,4902$2,5003$2,5004$2,5505$2,700
$2,700
RENT COMPS ANALYSIS
  • 1597 Ravanusa Drive Henderson, NV 1
    • 5 beds 4 baths ∙ 2,855 Sqft ∙ Built 2000 5 beds 4 baths ∙ 2,855 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $0.87
    •  
  • 3109 Whispering Canyon Court Henderson, NV 2
    • 5 beds 2 baths ∙ 2,763 Sqft ∙ Built 2001 5 beds 2 baths ∙ 2,763 Sqft ∙ Built 2001
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.90
    •  
  • 1717 Sabatini Drive Henderson, NV 3
    • 5 beds 2 baths ∙ 2,855 Sqft ∙ Built 2001 5 beds 2 baths ∙ 2,855 Sqft ∙ Built 2001
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.88
    •  
  • 3066 Via Del Corso Henderson, NV 4
    • 4 beds 3 baths ∙ 2,984 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,984 Sqft ∙ Built 2002
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.85
    •  
  • 1624 Ravanusa Drive #0 Henderson, NV 5
    • 4 beds 2 baths ∙ 2,694 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,694 Sqft ∙ Built 2000
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.00
    •  
PROPERTY LISTING DETAILS
Brian L Howell
1.702.375.0434
1st Source Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243562
Last Updated: 11/02/2020
BESbswy