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1837 Mimosa Court Henderson, NV 89014

2 Beds 1 Baths 924 sqft Built 1981

INVESTimate

$175,000

List Price

$1,010

$909 - $1,111

Rent Est.

$191,188  ( +9.25%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1981
  • Price/Sqft : $189.39
  • 7 Days on Market
  • MLS # : 2221270
  • Updated Date : 08/20/2020 at 16:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 924 sqft
  • Baths : 1 full
Listing Agent

Life Realty District

Listing Agent's Description

Wonderful upper deck is the entrance to this very nice 2 bedroom 2nd floor unit with a 1 car garage. Beautiful laminate wood flooring and popular white kitchen cabinets are your first impression as you enter this home. The master bedroom has 2 closets, one is a walk in closet. The 3/4 shower in the 2nd bathroom have handrails to assist.

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MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (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
Harriet Treem Elementary School Primary Regular 820 44 5
Francis Cortney Middle School Middle Regular 1,235 52 NA
Green Valley High School High Regular 3,092 122 9

Harriet Treem Elementary School

  • Education Level: Primary
  • # of students: 820
  • # of teachers: 44
5
GreatSchools Rating

Francis Cortney Middle School

  • Education Level: Middle
  • # of students: 1,235
  • # of teachers: 52
NA
GreatSchools Rating

Green Valley High School

  • Education Level: High
  • # of students: 3,092
  • # of teachers: 122
9
GreatSchools Rating
 

$157,500$192,500$175,000

PURCHASE PRICE

$909$1,111$1,010

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,010
EXPENSES Loan Payment -$646
Property Tax -$87
Property Insurance -$45
HOA -$222
Property Management Fees -$119
CASH FLOW
-$108

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.

$175,000

PROJECTED PRICE

$1,010

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.25%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,125

INVESTMENT

$52,125

Down Payment
$43,750
Rehab Estimate
$5,750
Closing Costs
$2,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$646

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $43,750
Loan Amount $131,250
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$3,650

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,010

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,070

    COMP ESTIMATED VALUE
  • $1.16

    COMP AVG. RENT PER SQFT
Comps Range
$975
1$9752$1,0103$1,1004$1,2005$1,250
$1,250
RENT COMPS ANALYSIS
  • 1837 Mimosa Court Henderson, NV 2
    • 2 beds 1 baths ∙ 924 Sqft ∙ Built 1981 2 beds 1 baths ∙ 924 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,010
    • $1.09
    •  
  • 1852 Mimosa Court #d Henderson, NV 1
    • 2 beds 1 baths ∙ 924 Sqft ∙ Built 1981 2 beds 1 baths ∙ 924 Sqft ∙ Built 1981
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $975
    • $1.06
    •  
  • 1810 Plum Court #0 Henderson, NV 3
    • 2 beds 1 baths ∙ 924 Sqft ∙ Built 1989 2 beds 1 baths ∙ 924 Sqft ∙ Built 1989
    property image
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $1.19
    •  
  • 1806 Plum Court Henderson, NV 4
    • 2 beds 2 baths ∙ 1,008 Sqft ∙ Built 1989 2 beds 2 baths ∙ 1,008 Sqft ∙ Built 1989
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.19
    •  
  • 1855 Mimosa Court Henderson, NV 5
    • 2 beds 2 baths ∙ 1,050 Sqft ∙ Built 1981 2 beds 2 baths ∙ 1,050 Sqft ∙ Built 1981
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.19
    •  
PROPERTY LISTING DETAILS
Sallee Miller
1.702.277.3298
Life Realty District
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2221270
Last Updated: 08/20/2020
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