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

169 Strone Street Henderson, NV 89012

3 Beds 3 Baths 3,178 sqft Built 2013

$525,000

List Price

$2,420

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2013
  • Price/Sqft : $165.20
  • 6 Days on Market
  • MLS # : 2243481
  • Updated Date : 10/29/2020 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,178 sqft
  • Baths : 2 full , 1 half
Listing Agent

Las Vegas Realty Llc

Listing Agent's Description

A beautiful fully renovated home, with salt water pool & spa* Kitchen w/ pantry & breakfast bar w/ upgraded cabinets & granite counter tops. *Primary bedroom w/ his & hers closets, Primary bathroom w/ double sinks with separate tub and upgraded shower. All bedrooms have walk-in closets. 3 car garage. With crown molding throughout entire home.

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: McCullough Hills

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k366k

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

Neighborhood: McCullough Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10801914

* 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
Ulis Newton Elementary School Primary Regular 611 35 7
Jack And Terry Mannion Middle School Middle Regular 1,523 62 NA
Foothill High School High Regular 2,883 109 7

Ulis Newton Elementary School

  • Education Level: Primary
  • # of students: 611
  • # of teachers: 35
7
GreatSchools Rating

Jack And Terry Mannion Middle School

  • Education Level: Middle
  • # of students: 1,523
  • # of teachers: 62
NA
GreatSchools Rating

Foothill High School

  • Education Level: High
  • # of students: 2,883
  • # of teachers: 109
7
GreatSchools Rating
 

$472,500$577,500$525,000

PURCHASE PRICE

$2,178$2,662$2,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,420
EXPENSES Loan Payment -$1,937
Property Tax -$425
Property Insurance -$89
Property Management Fees -$119
CASH FLOW
-$150

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.

$525,000

PROJECTED PRICE

$2,420

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.5%
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$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,937

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$26,865

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,420

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,471

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,2503$2,4204$2,5455$2,750
$2,750
RENT COMPS ANALYSIS
  • 169 Strone Street Henderson, NV 3
    • 3 beds 3 baths ∙ 3,178 Sqft ∙ Built 2013 3 beds 3 baths ∙ 3,178 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $0.76
    •  
  • 174 Copper Rock Court Henderson, NV 1
    • 4 beds 3 baths ∙ 3,116 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,116 Sqft ∙ Built 2005
    property image
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.69
    •  
  • 229 Amber Bluff Street Henderson, NV 2
    • 4 beds 3 baths ∙ 3,120 Sqft ∙ Built 2014 4 beds 3 baths ∙ 3,120 Sqft ∙ Built 2014
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.72
    •  
  • 832 Bluff Ridge Avenue Henderson, NV 4
    • 4 beds 3 baths ∙ 3,089 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,089 Sqft ∙ Built 2001
    property image
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,545
    • $0.82
    •  
  • 213 Amber Bluff Street Henderson, NV 5
    • 4 beds 3 baths ∙ 3,120 Sqft ∙ Built 2018 4 beds 3 baths ∙ 3,120 Sqft ∙ Built 2018
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.88
    •  
PROPERTY LISTING DETAILS
Tiffany N Gain
1.702.969.7526
Las Vegas Realty Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243481
Last Updated: 10/29/2020
BESbswy