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190 La Serna Street Henderson, NV 89074

4 Beds 3 Baths 2,281 sqft Built 1991

$350,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1991
  • Price/Sqft : $153.44
  • 3 Days on Market
  • MLS # : 2243939
  • Updated Date : 11/02/2020 at 12:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,281 sqft
  • Baths : 2 full , 1 half
Listing Agent

Galindo Group Real Estate

Listing Agent's Description

**WELCOME HOME** This beautiful 2 story home is beaming with pride of ownership! 2 MASTER BEDROOMS! CURB APPEAL! A perfect front lawn welcomes you to this 4 bedroom and 3 bath located in desirable Henderson! Once you walk in the front door, you are welcomed with a front formal living room full of natural light! A separate dining room with entry to the backyard is the perfect size to enjoy all of your meals. The kitchen sits open to the LARGE family room, with a window overlooking the backyard. The family room boasts a fireplace and enough room for all of your comfort essentials. Head upstairs to the 4 bedrooms, 2 master bedrooms! Both master bedrooms have on-suite bathrooms. The largest Primary bedroom is oversized, with a great bathroom that includes dual sinks, separate tub, and separate shower! Finally, the backyard has a HOT TUB and plenty of space to entertain or build your dream pool!! Nestled in the perfect location close to shopping, schools, parks, and the freeway!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Green Valley South

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k362k

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

Neighborhood: Green Valley South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10801875

* 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
Aggie Roberts Elementary School Primary Regular 805 39 7
Jack L. Schofield Middle School Middle Regular 1,332 51 NA
Silverado High School High Regular 2,263 94 5

Aggie Roberts Elementary School

  • Education Level: Primary
  • # of students: 805
  • # of teachers: 39
7
GreatSchools Rating

Jack L. Schofield Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 51
NA
GreatSchools Rating

Silverado High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
5
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,291
Property Tax -$199
Property Insurance -$71
Property Management Fees -$119
CASH FLOW
$70

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.

$350,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.9%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% 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 $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$36,155

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,768

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,6953$1,7504$1,7755$1,850
$1,850
RENT COMPS ANALYSIS
  • 190 La Serna Street Henderson, NV 3
    • 4 beds 3 baths ∙ 2,281 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,281 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.77
    •  
  • 2802 Yorkshire Avenue #0 Henderson, NV 1
    • 3 beds 2 baths ∙ 2,294 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,294 Sqft ∙ Built 1995
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.74
    •  
  • 2904 Sarina Avenue #na Henderson, NV 2
    • 4 beds 4 baths ∙ 2,281 Sqft ∙ Built 1993 4 beds 4 baths ∙ 2,281 Sqft ∙ Built 1993
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.74
    •  
  • 204 Highgate Street #0 Henderson, NV 4
    • 4 beds 2 baths ∙ 2,294 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,294 Sqft ∙ Built 1995
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.77
    •  
  • 177 La Alba Street Henderson, NV 5
    • 3 beds 3 baths ∙ 2,188 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,188 Sqft ∙ Built 1993
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.85
    •  
PROPERTY LISTING DETAILS
Matthew L Langguth
1.702.755.1215
Galindo Group Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243939
Last Updated: 11/02/2020
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