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1866 Cypress Mesa Drive Henderson, NV 89012

3 Beds 3 Baths 2,165 sqft Built 2000

$569,500

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $263.05
  • 11 Days on Market
  • MLS # : 2263248
  • Updated Date : 01/29/2021 at 10:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,165 sqft
  • Baths : 3 full
Listing Agent

Ceci Realty

Listing Agent's Description

Nestled in the foothills of Sun City MacDonald Ranch - Cul-de-sac, no neighbors behind, side yard easement* Popular Terravitta Model with Casita* Upgrades & options throughout* Great open floor plan - 3 full bedrooms, plus office/den, plus Hobby room with custom built-in cabinets & bookcases, 3 full bathrms, 2 1/2 car garage for workshop/golf cart parking* Tranquil & secure front court yard area with lattice covered patio & flagstone surfaced* Gourmet kitchen layout with center island & big breakfast nook area, pantry, and built-in desk area and new stainless steel appliances* Open great room with raised coffered ceilings, gas fireplace, built-in shelves, extra recessed lighting* Raised panel interior doors* Newer hi-efficient Heat & A/C units - both main house & Casita* Extra attic insulation* New hot water heater and re-cir hot water pump* Exterior painted 2016*Fully fenced backyard, inground heated spa with water feature-brand new gas spa heater & pump* An entertainer's delight!

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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: Sun City MacDonald Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k362k

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

Neighborhood: Sun City MacDonald Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10011875

* 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 Vanderburg Elementary School Primary Regular 929 45 10
Bob Miller Middle School Middle Regular 1,600 59 NA
Coronado High School High Regular 3,240 124 10

John Vanderburg Elementary School

  • Education Level: Primary
  • # of students: 929
  • # of teachers: 45
10
GreatSchools Rating

Bob Miller Middle School

  • Education Level: Middle
  • # of students: 1,600
  • # of teachers: 59
NA
GreatSchools Rating

Coronado High School

  • Education Level: High
  • # of students: 3,240
  • # of teachers: 124
10
GreatSchools Rating
 

$512,550$626,450$569,500

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,978
Property Tax -$286
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
-$272

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.

$569,500

PROJECTED PRICE

$2,180

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.0%
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$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

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$156,668

INVESTMENT

$156,668

Down Payment
$142,375
Rehab Estimate
$5,750
Closing Costs
$8,543

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,978

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $142,375
Loan Amount $427,125
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$17,234

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,181

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1803$2,3004$2,3505$2,500
$2,500
RENT COMPS ANALYSIS
  • 1866 Cypress Mesa Drive Henderson, NV 2
    • 3 beds 3 baths ∙ 2,165 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,165 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $1.01
    •  
  • 2088 Tiger Links Drive #n/a Henderson, NV 1
    • 3 beds 2 baths ∙ 2,165 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,165 Sqft ∙ Built 1999
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.97
    •  
  • 1073 Otto Ridge Court Henderson, NV 3
    • 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 2004
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.98
    •  
  • 1072 Daylight Blaze Way #0 Henderson, NV 4
    • 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 2005
    LEASED 07/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.00
    •  
  • 547 Mountain Links Drive Henderson, NV 5
    • 3 beds 3 baths ∙ 2,307 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,307 Sqft ∙ Built 2000
    LEASED 12/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.08
    •  
PROPERTY LISTING DETAILS
Gary Ceci
1.702.260.0873
Ceci Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2263248
Last Updated: 01/29/2021
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