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2142 Cimarron Hill Drive Henderson, NV 89074

3 Beds 3 Baths 2,225 sqft Built 1994

INVESTimate

$364,900

List Price

$1,750

$1,575 - $1,925

Rent Est.

$398,653  ( +9.25%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $164.00
  • 4 Days on Market
  • MLS # : 2224283
  • Updated Date : 08/24/2020 at 11:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,225 sqft
  • Baths : 2 full , 1 half
Listing Agent

Go Global Realty

Listing Agent's Description

Welcome Home! 3 car garage home can be found right in the heart of Green Valley. Conveniently close to parks,shopping, freeway access. Great open view from your backyard. you don't want to miss out this house!!

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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 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
Selma F. Bartlett Elementary School Primary Regular 682 35 10
Barbara And Hank Greenspun Middle School Middle Regular 1,397 55 NA
Green Valley High School High Regular 3,092 122 9

Selma F. Bartlett Elementary School

  • Education Level: Primary
  • # of students: 682
  • # of teachers: 35
10
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
 

$328,410$401,390$364,900

PURCHASE PRICE

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

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$1.4M

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 $1,750
EXPENSES Loan Payment -$1,346
Property Tax -$208
Property Insurance -$70
HOA -$43
Property Management Fees -$119
CASH FLOW
-$37

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.

$364,900

PROJECTED PRICE

$1,750

PROJECTED RENT

0.48%

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$102,449

INVESTMENT

$102,449

Down Payment
$91,225
Rehab Estimate
$5,750
Closing Costs
$5,474

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,346

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,225
Loan Amount $273,675
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$24,913

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
  • $0.79

    LIST RENT PER SQFT
  • $1,758

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,6753$1,7504$1,8005$1,870
$1,870
RENT COMPS ANALYSIS
  • 2142 Cimarron Hill Drive Henderson, NV 3
    • 3 beds 3 baths ∙ 2,225 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,225 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.79
    •  
  • 1936 Altivo Drive #0 Henderson, NV 1
    • 3 beds 3 baths ∙ 2,028 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,028 Sqft ∙ Built 1992
    property image
    LEASED 10/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.75
    •  
  • 2341 Brockton Way Henderson, NV 2
    • 3 beds 3 baths ∙ 2,132 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,132 Sqft ∙ Built 1998
    property image
    LEASED 08/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.79
    •  
  • 231 Borrego Drive Henderson, NV 4
    • 3 beds 2 baths ∙ 2,145 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,145 Sqft ∙ Built 1991
    property image
    LEASED 10/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.84
    •  
  • 2042 Angel Falls Drive Henderson, NV 5
    • 4 beds 2 baths ∙ 2,409 Sqft ∙ Built 1990 4 beds 2 baths ∙ 2,409 Sqft ∙ Built 1990
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.78
    •  
PROPERTY LISTING DETAILS
Harry Lee
1.702.244.0120
Go Global Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224283
Last Updated: 08/24/2020
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