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1932 Old Mill Lane Henderson, NV 89014

3 Beds 3 Baths 1,877 sqft Built 1986

INVESTimate

$350,000

List Price

$1,630

$1,467 - $1,793

Rent Est.

$382,375  ( +9.25%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $186.47
  • 7 Days on Market
  • MLS # : 2222759
  • Updated Date : 08/21/2020 at 08:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,877 sqft
  • Baths : 3 full
Listing Agent

Redfin

Listing Agent's Description

Stunning and meticulously maintained Henderson home! Located in the highly sought-after Green Valley community near Highly Rated Schools! This breezy floor-plan invites entertaining in a spacious kitchen w/granite counters and loads of cabinets*Enjoy a generous master suite a spa-like master bath inviting you to relax & soak in your separate tub or if you like, you can shower away the day*Secondary bedrooms are En-Suite and one is down stairs*Easy maintenance back yard with Patio Cover that allows you to chill in the warm weather*Amazing central location with nearby shopping, parks/water parks and access to the 215 for easy commutes* Just a quick trip to the world famous Las Vegas Strip or the Airport**TOUR NOW before it's gone!***

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
 

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

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,291
Property Tax -$178
Property Insurance -$64
HOA -$28
Property Management Fees -$119
CASH FLOW
-$50

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

$1,630

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$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 50% 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

5.33

YEARS SAVED

$23,147

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,793

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,630
1$1,6302$1,6503$1,7354$1,9005$2,100
$2,100
RENT COMPS ANALYSIS
  • 1932 Old Mill Lane Henderson, NV 1
    • 3 beds 3 baths ∙ 1,877 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,877 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.87
    •  
  • 337 Bekasina Drive Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,787 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,787 Sqft ∙ Built 1986
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.92
    •  
  • 292 Kershner Court Henderson, NV 3
    • 3 beds 3 baths ∙ 1,925 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,925 Sqft ∙ Built 1989
    LEASED 08/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,735
    • $0.90
    •  
  • 388 Mancini Court Henderson, NV 4
    • 4 beds 3 baths ∙ 2,022 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,022 Sqft ∙ Built 1985
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.94
    •  
  • 348 Bekasina Drive Henderson, NV 5
    • 4 beds 2 baths ∙ 1,980 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,980 Sqft ∙ Built 1985
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.06
    •  
PROPERTY LISTING DETAILS
Jennifer L Brockman
1.702.467.0909
Redfin
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222759
Last Updated: 08/21/2020
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