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1904 Equinox Ridge Way Henderson, NV 89014

3 Beds 3 Baths 1,483 sqft Built 2005

INVESTimate

$290,000

List Price

$1,370

$1,233 - $1,507

Rent Est.

$316,825  ( +9.25%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $195.55
  • 6 Days on Market
  • MLS # : 2222555
  • Updated Date : 08/25/2020 at 16:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,483 sqft
  • Baths : 2 full , 1 half
Listing Agent

Black & Cherry Real Estate

Listing Agent's Description

Beautiful 3 bedroom 3 bath home. Freshly painted. Kitchen features all appliances, custom cabinets, granite counter-tops, and a pantry. Spacious living room w/ ceiling fan. Hardwood like floors throughout home and new carpet in bathrooms. Large master bedroom w/ walk-in closet and ceiling fan. Master bath features double sinks, and tub/shower. Separate laundry area. All bedrooms upstairs. Large back yard w/ patio. Community features playground. A MUST SEE!

SEE MORE

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
Estes M. Mcdoniel Elementary School Primary Regular 556 34 7
Barbara And Hank Greenspun Middle School Middle Regular 1,397 55 NA
Green Valley High School High Regular 3,092 122 9

Estes M. Mcdoniel Elementary School

  • Education Level: Primary
  • # of students: 556
  • # of teachers: 34
7
GreatSchools Rating

Barbara And Hank Greenspun Middle School

  • Education Level: Middle
  • # of students: 1,397
  • # of teachers: 55
NA
GreatSchools Rating

Green Valley High School

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

$261,000$319,000$290,000

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$1,070
Property Tax -$180
Property Insurance -$56
HOA -$55
Property Management Fees -$119
CASH FLOW
-$109

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.

$290,000

PROJECTED PRICE

$1,370

PROJECTED RENT

0.47%

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$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$12,696

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,464

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,370
1$1,3702$1,4503$1,4954$1,5005$1,575
$1,575
RENT COMPS ANALYSIS
  • 1904 Equinox Ridge Way Henderson, NV 1
    • 3 beds 3 baths ∙ 1,483 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,483 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.92
    •  
  • 1975 Sunset Bend Drive #0 Henderson, NV 2
    • 3 beds 3 baths ∙ 1,357 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,357 Sqft ∙ Built 2006
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.07
    •  
  • 1939 Sundown Canyon Drive Henderson, NV 3
    • 3 beds 3 baths ∙ 1,483 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,483 Sqft ∙ Built 2005
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.01
    •  
  • 1911 Sundown Canyon Drive Henderson, NV 4
    • 4 beds 3 baths ∙ 1,644 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,644 Sqft ∙ Built 2005
    LEASED 09/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.91
    •  
  • 1983 Sunset Bend Drive Henderson, NV 5
    • 4 beds 3 baths ∙ 1,644 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,644 Sqft ∙ Built 2005
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.96
    •  
PROPERTY LISTING DETAILS
Wasim Faranesh
1.702.795.4663
Black & Cherry Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222555
Last Updated: 08/25/2020
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