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2253 Midvale Terrace Henderson, NV 89074

4 Beds 4 Baths 3,316 sqft Built 1995

$640,000

List Price

$2,540

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $193.00
  • 2 Days on Market
  • MLS # : 2250040
  • Updated Date : 11/21/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,316 sqft
  • Baths : 3 full , 1 half
Listing Agent

Urban Nest Realty

Listing Agent's Description

Breathtaking home in a peaceful cul de sac of Westwood Village in the heart of Henderson. An immaculate backyard featuring a pool, spa, built in BBQ, covered patio, and CASITA. The interior includes a custom kitchen, custom closet in the primary, 2 fireplaces, 2 laundry rooms, 3 car garage, downstairs bed and bath. YOU DON'T WANT TO MISS THIS ONE!!!

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: Green Valley North

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $121k340k

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

Neighborhood: Green Valley North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10801825

* 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
David M. Cox Elementary School Primary Regular 625 32 8
Barbara And Hank Greenspun Middle School Middle Regular 1,397 55 NA
Coronado High School High Regular 3,240 124 10

David M. Cox Elementary School

  • Education Level: Primary
  • # of students: 625
  • # of teachers: 32
8
GreatSchools Rating

Barbara And Hank Greenspun Middle School

  • Education Level: Middle
  • # of students: 1,397
  • # of teachers: 55
NA
GreatSchools Rating

Coronado High School

  • Education Level: High
  • # of students: 3,240
  • # of teachers: 124
10
GreatSchools Rating
 

$576,000$704,000$640,000

PURCHASE PRICE

$2,286$2,794$2,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,540
EXPENSES Loan Payment -$2,361
Property Tax -$354
Property Insurance -$91
Property Management Fees -$119
CASH FLOW
-$386

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.

$640,000

PROJECTED PRICE

$2,540

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.3%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$175,350

INVESTMENT

$175,350

Down Payment
$160,000
Rehab Estimate
$5,750
Closing Costs
$9,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,361

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $160,000
Loan Amount $480,000
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$17,683

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,540

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,761

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,540
1$2,5402$2,5503$2,7004$2,7955$2,845
$2,845
RENT COMPS ANALYSIS
  • 2253 Midvale Terrace Henderson, NV 1
    • 4 beds 4 baths ∙ 3,316 Sqft ∙ Built 1995 4 beds 4 baths ∙ 3,316 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $2,540
    • $0.77
    •  
  • 2248 Midvale Terrace Henderson, NV 2
    • 5 beds 3 baths ∙ 3,316 Sqft ∙ Built 1995 5 beds 3 baths ∙ 3,316 Sqft ∙ Built 1995
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.77
    •  
  • 2457 Antler Point Drive #0 Henderson, NV 3
    • 5 beds 2 baths ∙ 3,225 Sqft ∙ Built 1993 5 beds 2 baths ∙ 3,225 Sqft ∙ Built 1993
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.84
    •  
  • 72 Myrtle Beach Drive Henderson, NV 4
    • 5 beds 3 baths ∙ 3,225 Sqft ∙ Built 1994 5 beds 3 baths ∙ 3,225 Sqft ∙ Built 1994
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.87
    •  
  • 2504 Hacker Drive Henderson, NV 5
    • 4 beds 4 baths ∙ 3,331 Sqft ∙ Built 1994 4 beds 4 baths ∙ 3,331 Sqft ∙ Built 1994
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,845
    • $0.85
    •  
PROPERTY LISTING DETAILS
Kristen Riffle
1.702.497.0730
Urban Nest Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2250040
Last Updated: 11/21/2020
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