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2168 Madison Heights Street Henderson, NV 89052

3 Beds 5 Baths 2,522 sqft Built 2003

$617,000

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2003
  • Price/Sqft : $244.65
  • 14 Days on Market
  • MLS # : 2242195
  • Updated Date : 11/02/2020 at 09:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,522 sqft
  • Baths : 4 full , 1 half
Listing Agent

Re/max Advantage

Listing Agent's Description

BEAUTIFUL "GOLD KEY" W/UNIQUE FEAUTURES FOUND IN THIS 2882 SF HOME OFFERING 3 BDRMS (3RD BDRM IS CASITA), 3 1/2 BATH W/ 2 CAR + GOLF CART GARAGE. OWNED SOLAR (LESS THAN $20/MO FOR ELEC)*TANKLESS H20 HEATER* FRESH PAINTED INTERIOR & RECENT EXTERIOR PAINT*HI-TECH SECURITY SYSTEM*SURROUND SOUND*REAL WOOD FLOORS* SECURITY GATE ENTRY INTO PRIVATE COURTYARD W/ELEVATED GAS FP, A SEPERATE CASITA W/ CUSTOM BLT-IN CABINETS, MURPHY BED & BATHROOM. A HOME WITH ENTERTAINING IN MIND INCLUDES A SPACIOUS EAT-IN KITCHEN FEATURING BLT-IN APPLIANCES, EXTENSIVE CABINETRY, ISLAND/BREAKFAST BAR AND AMPLE WORK SPACE FOR THE CHEF! THE PRIMARY ENSUITE INCLUDES AN EXTENDED GLASS ENCLOSED WALK IN SHOWER, DUAL VANITY/SINKS AND A CUSTOMIZED WALK-IN CLOSET. GUESTS WILL ENJOY THE ENSUITE BEDROOM OVERLOOKING THE PRIVATE COURTYARD. THE LAUNDRY ROOM INCLUDES ADDL CABINETS & SINK. THE GLASS SLIDERS OFF THE GREAT RM LEAD TO A PRIVATE REAR YARD W/A PATIO COVER EXTENDING THE ENTIRE LENGTH OF THE HOME! A MUST SEE HOME!

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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: Sun City Anthem

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k397k

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

Neighborhood: Sun City Anthem

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10802028

* 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
Shirley And Bill Wallin Elementary School Primary Regular 1,067 51 10
Del E Webb Middle School Middle Regular 1,863 74 NA
Liberty High School High Regular 2,496 105 5

Shirley And Bill Wallin Elementary School

  • Education Level: Primary
  • # of students: 1,067
  • # of teachers: 51
10
GreatSchools Rating

Del E Webb Middle School

  • Education Level: Middle
  • # of students: 1,863
  • # of teachers: 74
NA
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,496
  • # of teachers: 105
5
GreatSchools Rating
 

$555,300$678,700$617,000

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$2,276
Property Tax -$379
Property Insurance -$76
Property Management Fees -$119
CASH FLOW
-$601

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.

$617,000

PROJECTED PRICE

$2,250

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 5.1%
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-$10k-$5.0k$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$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$169,255

INVESTMENT

$169,255

Down Payment
$154,250
Rehab Estimate
$5,750
Closing Costs
$9,255

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,276

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $154,250
Loan Amount $462,750
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$5,679

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,459

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,2503$2,4004$2,6005$2,695
$2,695
RENT COMPS ANALYSIS
  • 2168 Madison Heights Street Henderson, NV 2
    • 3 beds 2 baths ∙ 2,522 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,522 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.89
    •  
  • 2350 Corte Pescado Street Henderson, NV 1
    • 3 beds 3 baths ∙ 2,351 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,351 Sqft ∙ Built 2013
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.85
    •  
  • 2435 Blair Castle Henderson, NV 3
    • 4 beds 3 baths ∙ 2,333 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,333 Sqft ∙ Built 2007
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.03
    •  
  • 2137 Maderno Street Henderson, NV 4
    • 3 beds 3 baths ∙ 2,559 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,559 Sqft ∙ Built 2018
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.02
    •  
  • 2150 Maderno Street Henderson, NV 5
    • 4 beds 3 baths ∙ 2,708 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,708 Sqft ∙ Built 2018
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.00
    •  
PROPERTY LISTING DETAILS
Rebecca L Mckenna-inman
1.702.501.2322
Re/max Advantage
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2242195
Last Updated: 11/02/2020
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