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1656 Duarte Drive Henderson, NV 89014

3 Beds 2 Baths 1,577 sqft Built 1989

INVESTimate

$344,777

List Price

$1,470

$1,323 - $1,617

Rent Est.

$376,669  ( +9.25%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1989
  • Price/Sqft : $218.63
  • 7 Days on Market
  • MLS # : 2223192
  • Updated Date : 08/20/2020 at 13:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,577 sqft
  • Baths : 2 full
Listing Agent

Simply Vegas

Listing Agent's Description

Cute single story with No HOA in Green Valley with a pool. Home is well maintained, 3 large bedrooms, tile flooring throughout, updated kitchen with a breakfast nook, separate living and family rooms. Home has a very private entrance and private pool to enjoy. 3D Tour available.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Green Valley North

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $121k340k

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

Neighborhood: Green Valley North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10801825

* 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
Estes M. Mcdoniel Elementary School Primary Regular 556 34 7
Barbara And Hank Greenspun Middle School Middle Regular 1,397 55 NA
Green Valley High School High Regular 3,092 122 9

Estes M. Mcdoniel Elementary School

  • Education Level: Primary
  • # of students: 556
  • # of teachers: 34
7
GreatSchools Rating

Barbara And Hank Greenspun Middle School

  • Education Level: Middle
  • # of students: 1,397
  • # of teachers: 55
NA
GreatSchools Rating

Green Valley High School

  • Education Level: High
  • # of students: 3,092
  • # of teachers: 122
9
GreatSchools Rating
 

$310,299$379,255$344,777

PURCHASE PRICE

$1,323$1,617$1,470

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$1,272
Property Tax -$174
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
-$153

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.

$344,777

PROJECTED PRICE

$1,470

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.25%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,116

INVESTMENT

$97,116

Down Payment
$86,194
Rehab Estimate
$5,750
Closing Costs
$5,172

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,272

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,194
Loan Amount $258,583
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$14,318

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,459

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4703$1,4754$1,4955$1,500
$1,500
RENT COMPS ANALYSIS
  • 1656 Duarte Drive Henderson, NV 2
    • 3 beds 2 baths ∙ 1,577 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,577 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.93
    •  
  • 1672 Normandy #711 Henderson, NV 1
    • 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 1991
    property image
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.94
    •  
  • 370 Manzanita Street Henderson, NV 3
    • 3 beds 3 baths ∙ 1,544 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,544 Sqft ∙ Built 1984
    property image
    LEASED 11/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.96
    •  
  • 326 Laguna Glen Drive #0 Henderson, NV 4
    • 3 beds 1 baths ∙ 1,600 Sqft ∙ Built 1998 3 beds 1 baths ∙ 1,600 Sqft ∙ Built 1998
    property image
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.93
    •  
  • 313 Laguna Glen Drive Henderson, NV 5
    • 3 beds 2 baths ∙ 1,717 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,717 Sqft ∙ Built 1997
    property image
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.87
    •  
PROPERTY LISTING DETAILS
Allison Miller
1.702.592.0488
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223192
Last Updated: 08/20/2020
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