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

1633 Price Street Henderson, NV 89011

3 Beds 2 Baths 1,388 sqft Built 1979

$275,000

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1979
  • Price/Sqft : $198.13
  • 14 Days on Market
  • MLS # : 2241808
  • Updated Date : 11/02/2020 at 11:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,388 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Market Place

Listing Agent's Description

*AMAZING SINGLE STORY HOME*THREE BEDROOM 2 BATHROOM*SPACIOUS GARAGE*TONS OF COMMUNITY AMENITIES*NO HOA IS A PLUS*AMPLE PARKING SPACE*OPEN FLOOR PLAN*TONS OF NATURAL LIGHT*AMPLE KITCHEN CABINETS AND COUNTER TOPS WITH AMPLE STORAGE*SPACIOUS BEDROOMS*BOTH BATHROOMS WITH SHOWER/TUB COMBO*FULLY FENCED BACKYARD*PROPERTY IS LOCATED NEAR SHOPPING AND DINING*LOCATED ACROSS THE STREET FROM COMMUNITY REC CENTER*NEW APPLIANCES*

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: 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
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$1,015
Property Tax -$100
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
$32

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.

$275,000

PROJECTED PRICE

$1,320

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$23,754

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,402

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,125
1$1,1252$1,2253$1,3204$1,3955$1,495
$1,495
RENT COMPS ANALYSIS
  • 1633 Price Street Henderson, NV 3
    • 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $0.95
    •  
  • 1441 Palm Street Henderson, NV 1
    • 3 beds 1 baths ∙ 1,240 Sqft ∙ Built 1961 3 beds 1 baths ∙ 1,240 Sqft ∙ Built 1961
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,125
    • $0.91
    •  
  • 525 Holick Avenue Henderson, NV 2
    • 3 beds 2 baths ∙ 1,229 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,229 Sqft ∙ Built 1983
    LEASED 11/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $1.00
    •  
  • 508 Van Dornum Avenue Henderson, NV 4
    • 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
    •  
  • 1901 Margarita Avenue Henderson, NV 5
    • 3 beds 2 baths ∙ 1,292 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,292 Sqft ∙ Built 1995
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.16
    •  
PROPERTY LISTING DETAILS
Richard J Brenkus
1.702.456.5959
Keller Williams Market Place
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2241808
Last Updated: 11/02/2020
BESbswy