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225 Fullerton Avenue Henderson, NV 89015

3 Beds 2 Baths 1,020 sqft Built 1979

$259,900

List Price

$1,140

$1K - $1.3K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1979
  • Price/Sqft : $254.80
  • 3 Days on Market
  • MLS # : 2246128
  • Updated Date : 11/06/2020 at 15:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,020 sqft
  • Baths : 2 full
Listing Agent

Life Realty District

Listing Agent's Description

Absolutely Charming home in a wonderful older neighborhood! This home has 3 bed 2 baths and a beautifully upgraded kitchen! Granite countertops, kitchen island, and tons of cabinet storage! Stainless steel refrigerator and gas stove. Beautiful wood laminate flooring throughout. A Security Screen door, and fully fenced front and back w/ automatic gate! Covered patio and large backyard! The exterior was painted in June of 2020! Close to all old town Henderson w/restaurants and coffee shops! Grocery around the corner! Must See!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Valley View

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $74k340k

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

Neighborhood: Valley View

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8291825

* 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
C.t. Sewell Elementary School Primary Regular 833 41 8
B. Mahlon Brown Junior High School Middle Regular 978 46 NA
Basic High School High Regular 2,367 100 3

C.t. Sewell Elementary School

  • Education Level: Primary
  • # of students: 833
  • # of teachers: 41
8
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
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,026$1,254$1,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,140
EXPENSES Loan Payment -$959
Property Tax -$104
Property Insurance -$47
Property Management Fees -$119
CASH FLOW
-$89

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$259,900

PROJECTED PRICE

$1,140

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.3%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$11,771

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,140

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,153

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,140
1$1,1402$1,2953$1,3004$1,3005$1,350
$1,350
RENT COMPS ANALYSIS
  • 225 Fullerton Avenue Henderson, NV 1
    • 3 beds 2 baths ∙ 1,020 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,020 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,140
    • $1.12
    •  
  • 214 Valley Forge Avenue Henderson, NV 2
    • 4 beds 2 baths ∙ 1,152 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,152 Sqft ∙ Built 1970
    property image
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.12
    •  
  • 214 Kirk Avenue Henderson, NV 3
    • 3 beds 1 baths ∙ 1,132 Sqft ∙ Built 1979 3 beds 1 baths ∙ 1,132 Sqft ∙ Built 1979
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.15
    •  
  • 1004 Brookside Court Henderson, NV 4
    • 3 beds 1 baths ∙ 1,149 Sqft ∙ Built 1986 3 beds 1 baths ∙ 1,149 Sqft ∙ Built 1986
    property image
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.13
    •  
  • 228 Fullerton Avenue Henderson, NV 5
    • 4 beds 1 baths ∙ 1,200 Sqft ∙ Built 1979 4 beds 1 baths ∙ 1,200 Sqft ∙ Built 1979
    property image
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.13
    •  
PROPERTY LISTING DETAILS
Dannette Swenson
1.480.620.0388
Life Realty District
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2246128
Last Updated: 11/06/2020
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