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185 Bear Cove Terrace Henderson, NV 89011

4 Beds 3 Baths 2,963 sqft Built 2016

$429,900

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $145.09
  • 6 Days on Market
  • MLS # : 2253874
  • Updated Date : 12/11/2020 at 01:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,963 sqft
  • Baths : 3 full
Listing Agent

Barrett & Co, Inc

Listing Agent's Description

Sitting adjacent to open desert trails, jump tracks, and Wetlands Park this home is ideal for the off road enthusiasts! Add to this an open floor plan and weekend get togethers with friends will include days of trail riding fun that lead into nights of food, laughs, and entertaining at home with your open floor plan kitchen and great room. A full bedroom and bath downstairs to make guests feel comfortable in this 4 bed & 3 bath home, it also includes a full den/office/sitting room off the owners suite to give you uncompromising convenience upstairs. Add to all of this an oversized 3 car garage allowing room to park your daily driver next to your off road machines and still have room for all the tools you could want. This home is ready for you to movie in, chill out, and relax your working worries away with convenience to all things fun outdoors...the seller is even including the above ground spa to this sale!

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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: Pittman

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $72k340k

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

Neighborhood: Pittman

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500160017001800Rent in $7911825

* 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
Josh Stevens Elementary School Primary Unknown NA
B. Mahlon Brown Junior High School Middle Regular 978 46 NA
Basic High School High Regular 2,367 100 3

Josh Stevens Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
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
 

$386,910$472,890$429,900

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,586
Property Tax -$332
Property Insurance -$85
Property Management Fees -$119
CASH FLOW
$178

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$429,900

PROJECTED PRICE

$2,300

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.5%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,674

INVESTMENT

$119,674

Down Payment
$107,475
Rehab Estimate
$5,750
Closing Costs
$6,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,586

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,475
Loan Amount $322,425
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$47,597

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,274

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,2003$2,2504$2,3005$2,600
$2,600
RENT COMPS ANALYSIS
  • 185 Bear Cove Terrace Henderson, NV 4
    • 4 beds 3 baths ∙ 2,963 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,963 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.78
    •  
  • 1208 Olivia Henderson, NV 1
    • 3 beds 3 baths ∙ 3,020 Sqft ∙ Built 2008 3 beds 3 baths ∙ 3,020 Sqft ∙ Built 2008
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.71
    •  
  • 269 Via Franciosa Drive Henderson, NV 2
    • 4 beds 3 baths ∙ 2,856 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,856 Sqft ∙ Built 2006
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.77
    •  
  • 304 Via Di Citta Drive Henderson, NV 3
    • 4 beds 3 baths ∙ 3,044 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,044 Sqft ∙ Built 2006
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.74
    •  
  • 208 Via Mezza Luna Court Henderson, NV 5
    • 4 beds 3 baths ∙ 3,042 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,042 Sqft ∙ Built 2007
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.85
    •  
PROPERTY LISTING DETAILS
Andrew Dionne
1.702.979.3315
Barrett & Co, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2253874
Last Updated: 12/11/2020
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