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225 Nautical Street Henderson, NV 89012

3 Beds 2 Baths 1,574 sqft Built 1999

$349,900

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $222.30
  • 2 Days on Market
  • MLS # : 2246392
  • Updated Date : 11/07/2020 at 13:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,574 sqft
  • Baths : 2 full
Listing Agent

The Baird Group, Llc

Listing Agent's Description

ONE OF A KIND FOR THE PRICE!!! 3 BEDROOM 2 BATH HOME IN BLACK MOUNTAIN VISTAS. CUL DE SAC ELEVATED LOT WITH MOUNTIAN VIEWS, PEEK A BOO STRIP VIEW AND PRIVACY. RV, BOAT OR TOY PARKING ON SIDE YARD. REMODELED KITCHEN FEATURING WHITE CABINETS, UPGRADED GRANITE COUNTER TOPS, SUB WAY BACK SPLASH, CUSTOM HARDWARE, PANTRY, BREAKFAST BAR; PLUSH CARPETING, TWO TONE PAINT; LARGE MASTER SUITE WITH BARN DOOR TO BATHROOM; DUAL VANITY, GARDEN TUB AND SEPARATE SHOWER,SPACIOUS WALK- IN CLOSET WITH CUSTOM ORGANIZER . MAIN BATH HAS GRANITE COUNTER-TOP, OPEN FLOOR PLAN. GREAT ROOM W/GAS FIREPLACE. LARGE CERAMIC TILE FLOORING, CEILING FANS THROUGHOUT, WASHER DRYER AND FRIDGE INCLUDED; COVERED PATIO PROVIDES LOTS OF TRANQUILITY AND SHADE. DELUXE LANDSCAPING WITH PAVERS AND SYNTHETIC GRASS; SOLAR SCREENS AND CUSTOM SECURITY DOOR. WATER SOFTENER, GATED COMMUNITY, CLOSE TO FREEWAY ACCESS AND ALL AMENITIES. THIS ONE HAS IT ALL! SEE IT TODAY ...WILL NOT LAST LONG!

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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: McCullough Hills

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k366k

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

Neighborhood: McCullough Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10801914

* 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
Ulis Newton Elementary School Primary Regular 611 35 7
Jack And Terry Mannion Middle School Middle Regular 1,523 62 NA
Foothill High School High Regular 2,883 109 7

Ulis Newton Elementary School

  • Education Level: Primary
  • # of students: 611
  • # of teachers: 35
7
GreatSchools Rating

Jack And Terry Mannion Middle School

  • Education Level: Middle
  • # of students: 1,523
  • # of teachers: 62
NA
GreatSchools Rating

Foothill High School

  • Education Level: High
  • # of students: 2,883
  • # of teachers: 109
7
GreatSchools Rating
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$1,291
Property Tax -$201
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
-$209

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.

$349,900

PROJECTED PRICE

$1,460

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$10,780

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,539

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,460
1$1,4602$1,5003$1,5004$1,5955$1,600
$1,600
RENT COMPS ANALYSIS
  • 225 Nautical Street Henderson, NV 1
    • 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.93
    •  
  • 355 Yacht Avenue Henderson, NV 2
    • 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1999
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.95
    •  
  • 521 Coolidge Avenue Henderson, NV 3
    • 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1999
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.89
    •  
  • 528 Waterwheel Falls Drive Henderson, NV 4
    • 3 beds 2 baths ∙ 1,652 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,652 Sqft ∙ Built 1998
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.97
    •  
  • 479 Opal Drive Henderson, NV 5
    • 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1994
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.10
    •  
PROPERTY LISTING DETAILS
Steven D Baird
1.702.592.9927
The Baird Group, Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2246392
Last Updated: 11/07/2020
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