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180 Errogie Street Henderson, NV 89012

4 Beds 4 Baths 3,178 sqft Built 2013

$562,000

List Price

$2,530

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $176.84
  • 3 Days on Market
  • MLS # : 2249033
  • Updated Date : 11/20/2020 at 11:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,178 sqft
  • Baths : 3 full , 1 half
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Imagine seeing the sunrise on your gorgeous bckyrd or sip coffee from the huge master balcony mesmerized by the view! Welcome to this gorgeous DR Horton FORMER MODEL home. Besides the amazing view, this home features a true double master suite, up and down, an amazing great room setting, gourmet kitchen with granite counters, SS appliances, BI Micro & oven, SS hood. Dwn Master suite w brand new carpet, freshly painted, recessed lighting. Dwn mstr bath w dbl sinks, sep tub & shower & huge custom closet w wshr/dryer! Upstairs spacious loft w incld cabinet, huge 2nd & 3rd guest bdrms w walk-in closets & jack/jill bath. Primary mstr w full length balcony w amazing east Blk Mtn view, enormous w/in closet; Mstr bth w garden tub & oversized shower. Gorgeous & colorful SALT WATER HEATED POOL bckyd w flower garden, cvrd patio, artif turf, dog run, pavers & NO ONE BEHIND! Upstairs prim huge laundry w sink & lots of storage! 3 car epoxy finish garage w dbl openers, storage racks & water softener.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$505,800$618,200$562,000

PURCHASE PRICE

$2,277$2,783$2,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,530
EXPENSES Loan Payment -$2,074
Property Tax -$410
Property Insurance -$89
Property Management Fees -$119
CASH FLOW
-$161

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.

$562,000

PROJECTED PRICE

$2,530

PROJECTED RENT

0.45%

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

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$154,680

INVESTMENT

$154,680

Down Payment
$140,500
Rehab Estimate
$5,750
Closing Costs
$8,430

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,074

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $140,500
Loan Amount $421,500
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$29,221

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,530

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,511

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2503$2,5304$2,5455$2,750
$2,750
RENT COMPS ANALYSIS
  • 180 Errogie Street Henderson, NV 3
    • 4 beds 4 baths ∙ 3,178 Sqft ∙ Built 2013 4 beds 4 baths ∙ 3,178 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,530
    • $0.80
    •  
  • 104 Misty Rain Street Henderson, NV 1
    • 4 beds 3 baths ∙ 2,838 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,838 Sqft ∙ Built 2000
    LEASED 07/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.74
    •  
  • 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
    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
    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
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.88
    •  
PROPERTY LISTING DETAILS
Maria S Martin
1.702.682.9360
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249033
Last Updated: 11/20/2020
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