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2026 Hobbyhorse Avenue Henderson, NV 89012

5 Beds 4 Baths 2,718 sqft Built 1996

INVESTimate

$619,000

List Price

$2,450

$2,205 - $2,695

Rent Est.

$668,953  ( +8.07%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $227.74
  • 8 Days on Market
  • MLS # : 2223205
  • Updated Date : 08/22/2020 at 10:17
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,718 sqft
  • Baths : 3 full , 1 half
Listing Agent

Henderson Valley Realty

Listing Agent's Description

CORNER LOT on over a quarter acre in the HEART of Green Valley Ranch. Park-like backyard with mature trees, shade, cooler temps, huge patio cover, bball court, heated pool w/ new pool tile, spa, room to run & play! (Like-new pool gate comes with house!) 2 master bdrms, one downstairs, could be used as kids' playroom or distance learning center, BRAND NEW kitchen & bathrooms: light and bright quartz counter tops, freshly painted cabinets w/ slide outs. Newly replaced AC units, new front door, new carpet, LED lighting throughout, vaulted entry, closet built ins, garage cabinets, close to The District, shopping, dining, & freeway. Zoned for some of the best schools in CCSD: Vanderburg/Twitchell, Miller, Coronado, parks galore, right across the street from the beautiful Discovery Park. Must see! This one won't last long.

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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 Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k396k

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

Neighborhood: Green Valley Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10802045

* 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
 

$557,100$680,900$619,000

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$2,284
Property Tax -$306
Property Insurance -$80
Property Management Fees -$119
CASH FLOW
-$339

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.

$619,000

PROJECTED PRICE

$2,450

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.07%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$169,785

INVESTMENT

$169,785

Down Payment
$154,750
Rehab Estimate
$5,750
Closing Costs
$9,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,284

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $154,750
Loan Amount $464,250
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$21,046

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,548

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,3953$2,4504$2,6005$2,650
$2,650
RENT COMPS ANALYSIS
  • 2026 Hobbyhorse Avenue Henderson, NV 3
    • 5 beds 4 baths ∙ 2,718 Sqft ∙ Built 1996 5 beds 4 baths ∙ 2,718 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.90
    •  
  • 287 Canyon Spirit Drive Henderson, NV 1
    • 4 beds 3 baths ∙ 2,534 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,534 Sqft ∙ Built 1998
    property image
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.87
    •  
  • 1852 Desert Forest Way Henderson, NV 2
    • 5 beds 3 baths ∙ 2,614 Sqft ∙ Built 1997 5 beds 3 baths ∙ 2,614 Sqft ∙ Built 1997
    property image
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.92
    •  
  • 495 Melrose Heights Street Henderson, NV 4
    • 4 beds 3 baths ∙ 2,673 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,673 Sqft ∙ Built 1997
    property image
    LEASED 08/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.97
    •  
  • 496 First Light Street #0 Henderson, NV 5
    • 4 beds 2 baths ∙ 2,673 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,673 Sqft ∙ Built 1997
    property image
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.99
    •  
PROPERTY LISTING DETAILS
Celia M Erickson
1.702.378.4183
Henderson Valley Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223205
Last Updated: 08/22/2020
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