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1832 Longmeadow Street Henderson, NV 89002

3 Beds 2 Baths 1,587 sqft Built 1994

$349,900

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $220.48
  • 3 Days on Market
  • MLS # : 2248260
  • Updated Date : 11/14/2020 at 08:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,587 sqft
  • Baths : 2 full
Listing Agent

Simply Vegas

Listing Agent's Description

Highly desired single story home with 3-car garage in Henderson. Nice size lot with RV / Trailer parking on the sides. This home has been freshly painted with new carpet. Very clean & ready for move-in. Come take a look, you won't be disappointed.

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: River Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k362k

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

Neighborhood: River Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9911875

* 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
John Dooley Elementary School Primary Regular 416 27 8
B. Mahlon Brown Junior High School Middle Regular 978 46 NA
Basic High School High Regular 2,367 100 3

John Dooley Elementary School

  • Education Level: Primary
  • # of students: 416
  • # of teachers: 27
8
GreatSchools Rating

B. Mahlon Brown Junior High School

  • Education Level: Middle
  • # of students: 978
  • # of teachers: 46
NA
GreatSchools Rating

Basic High School

  • Education Level: High
  • # of students: 2,367
  • # of teachers: 100
3
GreatSchools Rating
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$1,291
Property Tax -$179
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
-$237

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.

$349,900

PROJECTED PRICE

$1,410

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.8%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$9,033

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,416

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,225
1$1,2252$1,3503$1,4104$1,4255$1,450
$1,450
RENT COMPS ANALYSIS
  • 1832 Longmeadow Street Henderson, NV 3
    • 3 beds 2 baths ∙ 1,587 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,587 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.89
    •  
  • 767 Peregrine Falcon Henderson, NV 1
    • 3 beds 3 baths ∙ 1,370 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,370 Sqft ∙ Built 2003
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $0.89
    •  
  • 2040 Houdini Street Henderson, NV 2
    • 3 beds 3 baths ∙ 1,578 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,578 Sqft ∙ Built 2006
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.86
    •  
  • 1164 Elam Street Henderson, NV 4
    • 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 1998
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.90
    •  
  • 2077 Hocus Pocus Place #0 Henderson, NV 5
    • 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 2006
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.92
    •  
PROPERTY LISTING DETAILS
Richard F Caruso
1.702.204.7202
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2248260
Last Updated: 11/14/2020
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