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2212 Overlook Canyon Lane Henderson, NV 89052

3 Beds 2 Baths 3,467 sqft Built 2017

INVESTimate

$1,575,000

List Price

$4,620

$4,370 - $4,870

Rent Est.

$1,721,318  ( +9.29%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $454.28
  • 7 Days on Market
  • MLS # : 2223745
  • Updated Date : 08/22/2020 at 11:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,467 sqft
  • Baths : 1 full , 1 half
Listing Agent

Simply Vegas

Listing Agent's Description

Perfectly designed inside and out. Every room has been upgraded with high end luxury finishes to create an absolutely stunning home. Stacking doors at the master and dining and a massive fully retractable pocket door at great room, make it easy to enjoy breath taking strip views. Amazing custom entry door, high ceilings, remote shades, wood flooring, beautiful tile accent walls, 66in wine fridge, lighted drop soffits, high quality level five smooth drywall finish, infinity edge smart pool with automated fire pots, outdoor patio heaters, indoor outdoor audio distribution system, central vacuum, mounted TV's and built in fireplace at the great room. Kithen cabinets feature toe kick, under cabinet and above cabinet lighting, and double roll out shelves. Quartz countertops with full backsplash, large island with built in prep sink, 48in cooktop and impressive 52in range hood. Master Bathroom features upgraded floor and wall tile, freestanding tub filler, and floating back lit mirrors.

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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: MacDonald Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k362k

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

Neighborhood: MacDonald Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200230024002500Rent in $10802532

* 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
 

$1,417,500$1,732,500$1,575,000

PURCHASE PRICE

$4,158$5,082$4,620

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M

PROJECTED ANNUAL CASH FLOW

11530-$40k-$30k-$20k-$10k$0.0$10k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M$5.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,620
EXPENSES Loan Payment -$5,811
Property Tax -$976
Property Insurance -$94
HOA -$160
Property Management Fees -$119
CASH FLOW
-$2,540

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.

$1,575,000

PROJECTED PRICE

$4,620

PROJECTED RENT

0.29%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.29%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$423,125

INVESTMENT

$423,125

Down Payment
$393,750
Rehab Estimate
$5,750
Closing Costs
$23,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$5,811

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $393,750
Loan Amount $1,181,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$187

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,620

    LIST RENT
  • $1.33

    LIST RENT PER SQFT
  • $3,597

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$3,290
1$3,2902$3,3003$3,5004$3,9995$4,620
$4,620
RENT COMPS ANALYSIS
  • 2212 Overlook Canyon Lane Henderson, NV 5
    • 3 beds 2 baths ∙ 3,467 Sqft ∙ Built 2017 3 beds 2 baths ∙ 3,467 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $4,620
    • $1.33
    •  
  • 2394 Sunburst View Street Henderson, NV 1
    • 4 beds 3 baths ∙ 3,370 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,370 Sqft ∙ Built 2003
    LEASED 06/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,290
    • $0.98
    •  
  • 32 Plum Hollow Drive Henderson, NV 2
    • 3 beds 3 baths ∙ 3,216 Sqft ∙ Built 2000 3 beds 3 baths ∙ 3,216 Sqft ∙ Built 2000
    LEASED 05/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.03
    •  
  • 23 Plum Hollow Drive Henderson, NV 3
    • 4 beds 3 baths ∙ 3,693 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,693 Sqft ∙ Built 2000
    LEASED 09/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.95
    •  
  • 2135 Montana Pine Drive Henderson, NV 4
    • 4 beds 3 baths ∙ 3,350 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,350 Sqft ∙ Built 2004
    LEASED 05/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,999
    • $1.19
    •  
PROPERTY LISTING DETAILS
Bryan Jones
1.702.370.1651
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223745
Last Updated: 08/22/2020
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