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170 Fallon Drive Henderson, NV 89074

5 Beds 3 Baths 2,353 sqft Built 1989

$385,000

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $163.62
  • 8 Days on Market
  • MLS # : 2271903
  • Updated Date : 02/26/2021 at 20:31
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,353 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

LOTS of space and full of upgrades!! This 5 bedroom, 2.5 bathroom home features a LARGE lot, real hardwood flooding, granite countertops, covered patio, and much more. The private backyard features a large lot, covered patio, firepit, easy to care for synthetic turf, and storage shed. Eat in the kitchen on the extra large island/breakfast nook, or in the dining room. Don't miss out on this great deal!

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: Green Valley South

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k362k

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

Neighborhood: Green Valley South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10801875

* 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
Aggie Roberts Elementary School Primary Regular 805 39 7
Jack L. Schofield Middle School Middle Regular 1,332 51 NA
Silverado High School High Regular 2,263 94 5

Aggie Roberts Elementary School

  • Education Level: Primary
  • # of students: 805
  • # of teachers: 39
7
GreatSchools Rating

Jack L. Schofield Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 51
NA
GreatSchools Rating

Silverado High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
5
GreatSchools Rating
 

$346,500$423,500$385,000

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,337
Property Tax -$194
Property Insurance -$73
Property Management Fees -$119
CASH FLOW
$97

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.

$385,000

PROJECTED PRICE

$1,820

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.9%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,337

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$35,407

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,765

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6953$1,7754$1,7995$1,820
$1,820
RENT COMPS ANALYSIS
  • 170 Fallon Drive Henderson, NV 5
    • 5 beds 3 baths ∙ 2,353 Sqft ∙ Built 1989 5 beds 3 baths ∙ 2,353 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.77
    •  
  • 2800 Norfolk Avenue Henderson, NV 1
    • 4 beds 2 baths ∙ 2,294 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,294 Sqft ∙ Built 1995
    property image
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.72
    •  
  • 2904 Sarina Avenue #na Henderson, NV 2
    • 4 beds 4 baths ∙ 2,281 Sqft ∙ Built 1993 4 beds 4 baths ∙ 2,281 Sqft ∙ Built 1993
    property image
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.74
    •  
  • 204 Highgate Street #0 Henderson, NV 3
    • 4 beds 2 baths ∙ 2,294 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,294 Sqft ∙ Built 1995
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.77
    •  
  • 2742 Chokecherry Avenue #0 Henderson, NV 4
    • 4 beds 3 baths ∙ 2,329 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,329 Sqft ∙ Built 1996
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.77
    •  
PROPERTY LISTING DETAILS
Monika Callahan-henn
1.702.400.3250
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2271903
Last Updated: 02/26/2021
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