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1828 Paprika Way Henderson, NV 89014

3 Beds 2 Baths 1,374 sqft Built 1985

$341,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $248.18
  • 5 Days on Market
  • MLS # : 2251840
  • Updated Date : 12/02/2020 at 12:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,374 sqft
  • Baths : 2 full
Listing Agent

Renu Management Las Vegas

Listing Agent's Description

Beautiful spacious Henderson home with new carpeting and fresh paint throughout. Kitchen includes granite countertops and appliances. Close to schools, parks, shopping and more.

SEE MORE

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: 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
 

$306,900$375,100$341,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$1,258
Property Tax -$145
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
-$136

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.

$341,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$96,115

INVESTMENT

$96,115

Down Payment
$85,250
Rehab Estimate
$5,750
Closing Costs
$5,115

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,258

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,250
Loan Amount $255,750
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$15,678

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,429

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4403$1,4504$1,5005$1,600
$1,600
RENT COMPS ANALYSIS
  • 1828 Paprika Way Henderson, NV 2
    • 3 beds 2 baths ∙ 1,374 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,374 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $1.05
    •  
  • 378 Umbria Way Henderson, NV 1
    • 3 beds 1 baths ∙ 1,374 Sqft ∙ Built 1985 3 beds 1 baths ∙ 1,374 Sqft ∙ Built 1985
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.98
    •  
  • 1675 Duarte Drive Henderson, NV 3
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1988
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.07
    •  
  • 1827 Mazzanti Way Henderson, NV 4
    • 3 beds 2 baths ∙ 1,374 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,374 Sqft ∙ Built 1986
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.09
    •  
  • 397 Discovery Court Henderson, NV 5
    • 3 beds 2 baths ∙ 1,573 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,573 Sqft ∙ Built 1988
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.02
    •  
PROPERTY LISTING DETAILS
Peter J Dingerson
1.702.301.6315
Renu Management Las Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2251840
Last Updated: 12/02/2020
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