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1688 Ravanusa Drive Henderson, NV 89052

4 Beds 2 Baths 3,038 sqft Built 2001

$699,000

List Price

$2,640

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $230.09
  • 7 Days on Market
  • MLS # : 2259152
  • Updated Date : 01/07/2021 at 01:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,038 sqft
  • Baths : 2 full
Listing Agent

Simply Vegas

Listing Agent's Description

This masterpiece is located in Seven Hills in the highly sought after gated community of Majestic Hills. Once you have viewed you will for sure fall in love. As you make your way through the entry you'll be immediately impressed with the soaring ceilings and abundance of natural light filtered through the beautiful new shutters throughout the whole house. As you pass by the wine room and into the gourmet kitchen you'll easily picture yourself entertaining in the Caesarstone and reclaimed barnwood kitchen, the contemporary remodel is straight from a designed catalogue - Tall French doors lead out of both the formal dining room and kitchen creating a private tranquil courtyard with lush plants and lighting extending the free flowing entertaining space. Once you're in the backyard oasis amidst the recently completed pool, and illuminated landscaping you'll feel like you're in a resort with lush trees and nature strip immediately behind the back fence line providing for backyard privacy.

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: 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
 

$629,100$768,900$699,000

PURCHASE PRICE

$2,376$2,904$2,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,640
EXPENSES Loan Payment -$2,428
Property Tax -$382
Property Insurance -$86
Property Management Fees -$119
CASH FLOW
-$375

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.

$699,000

PROJECTED PRICE

$2,640

PROJECTED RENT

0.38%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$190,985

INVESTMENT

$190,985

Down Payment
$174,750
Rehab Estimate
$5,750
Closing Costs
$10,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,428

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $174,750
Loan Amount $524,250
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$17,992

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,640

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,666

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,5003$2,5504$2,6405$2,795
$2,795
RENT COMPS ANALYSIS
  • 1688 Ravanusa Drive Henderson, NV 4
    • 4 beds 2 baths ∙ 3,038 Sqft ∙ Built 2001 4 beds 2 baths ∙ 3,038 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,640
    • $0.87
    •  
  • 1654 Sabatini Drive Henderson, NV 1
    • 5 beds 2 baths ∙ 2,855 Sqft ∙ Built 2001 5 beds 2 baths ∙ 2,855 Sqft ∙ Built 2001
    LEASED 02/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.84
    •  
  • 1717 Sabatini Drive Henderson, NV 2
    • 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 3
    • 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
    •  
  • 3047 Via Sarafina Drive Henderson, NV 5
    • 4 beds 2 baths ∙ 2,984 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,984 Sqft ∙ Built 1999
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.94
    •  
PROPERTY LISTING DETAILS
Eugenia Cho
1.702.283.0439
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2259152
Last Updated: 01/07/2021
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