Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2013 Hocus Pocus Place Henderson, NV 89002

5 Beds 3 Baths 2,405 sqft Built 2012

$420,000

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $174.64
  • 2 Days on Market
  • MLS # : 2279932
  • Updated Date : 03/20/2021 at 21:16
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,405 sqft
  • Baths : 2 full , 1 half
Listing Agent

Movoto, Inc

Listing Agent's Description

Amazing new built home 2011 with 5 BEDROOMS + upstairs LOFT and a huge POOL and covered patio looking towards with west for beautiful sunsets! This beauty has it all! Kitchen has granite with modern backsplash, center island/breakfast bar, w/i pantry, pendant lights, under counter cabinet lighting, s/s appliances, double wall ovens, cook top, microwave. Primary bedroom is spacious with a walk in closet and bathroom has large walk in shower. Downstairs flooring is wood like vinyl plans, tile is bathrooms and carpet upstairs. Solar is a lease with Telsa. Nice lighted and paved trail behind home and close proximity to Equestrian Park and River Mountain Bike Loop

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: River Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k362k

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

Neighborhood: River Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9911875

* 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 Dooley Elementary School Primary Regular 416 27 8
B. Mahlon Brown Junior High School Middle Regular 978 46 NA
Basic High School High Regular 2,367 100 3

John Dooley Elementary School

  • Education Level: Primary
  • # of students: 416
  • # of teachers: 27
8
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
 

$378,000$462,000$420,000

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,459
Property Tax -$314
Property Insurance -$74
Property Management Fees -$119
CASH FLOW
$85

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.

$420,000

PROJECTED PRICE

$2,050

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.8%
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

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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,459

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $105,000
Loan Amount $315,000
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$35,167

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,810

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6003$2,0004$2,0005$2,050
$2,050
RENT COMPS ANALYSIS
  • 2013 Hocus Pocus Place Henderson, NV 5
    • 5 beds 3 baths ∙ 2,405 Sqft ∙ Built 2012 5 beds 3 baths ∙ 2,405 Sqft ∙ Built 2012
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.85
    •  
  • 1017 Roaring River Avenue Henderson, NV 1
    • 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2005
    property image
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.71
    •  
  • 535 Moses Lake Court Henderson, NV 2
    • 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2004
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.71
    •  
  • 905 Spiracle Avenue Henderson, NV 3
    • 4 beds 4 baths ∙ 2,617 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,617 Sqft ∙ Built 2016
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.76
    •  
  • 1006 Winding Hill Street Henderson, NV 4
    • 4 beds 3 baths ∙ 2,423 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,423 Sqft ∙ Built 1995
    property image
    LEASED 01/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.83
    •  
PROPERTY LISTING DETAILS
Christine Fitzpatrick
1.702.768.5599
Movoto, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2279932
Last Updated: 03/20/2021
BESbswy