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220 Red Cloud Terrace Henderson, NV 89015

3 Beds 2 Baths 1,160 sqft Built 1993

$308,800

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $266.21
  • 4 Days on Market
  • MLS # : 2269330
  • Updated Date : 02/14/2021 at 04:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,160 sqft
  • Baths : 2 full
Listing Agent

Desert Sun Realty

Listing Agent's Description

Great Single Story Home, Located on a Corner Lot with HUGE Backyard and RV Gate. Bring Your Toys! Easy to Show. Ready to Move In! Good Condition with Low Maintenance Landscaping. Ready for move-in.

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: Foothills

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $121k355k

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

Neighborhood: Foothills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10081825

* 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
Sue Morrow Elementary School Primary Regular 734 38 9
B. Mahlon Brown Junior High School Middle Regular 978 46 NA
Basic High School High Regular 2,367 100 3

Sue Morrow Elementary School

  • Education Level: Primary
  • # of students: 734
  • # of teachers: 38
9
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
 

$277,920$339,680$308,800

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,073
Property Tax -$229
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
$180

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.

$308,800

PROJECTED PRICE

$1,650

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.9%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,582

INVESTMENT

$87,582

Down Payment
$77,200
Rehab Estimate
$5,750
Closing Costs
$4,632

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,073

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,200
Loan Amount $231,600
See What Happens When You Reinvest Cash Flow

8.75

YEARS SAVED

$37,025

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $1.42

    LIST RENT PER SQFT
  • $1,206

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,075
1$1,0752$1,1953$1,2504$1,4005$1,650
$1,650
RENT COMPS ANALYSIS
  • 220 Red Cloud Terrace Henderson, NV 5
    • 3 beds 2 baths ∙ 1,160 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,160 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.42
    •  
  • 915 Major Avenue Henderson, NV 1
    • 3 beds 2 baths ∙ 1,081 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,081 Sqft ∙ Built 1978
    property image
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,075
    • $0.99
    •  
  • 235 Mojave Henderson, NV 2
    • 3 beds 2 baths ∙ 1,176 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,176 Sqft ∙ Built 1993
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $1.02
    •  
  • 1011 Woodside Court #none Henderson, NV 3
    • 4 beds 2 baths ∙ 1,181 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,181 Sqft ∙ Built 1980
    property image
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.06
    •  
  • 165 Spinnaker Drive Henderson, NV 4
    • 3 beds 3 baths ∙ 1,285 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,285 Sqft ∙ Built 1986
    property image
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.09
    •  
PROPERTY LISTING DETAILS
Bret Runion
1.702.293.0000
Desert Sun Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2269330
Last Updated: 02/14/2021
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