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2257 Chestnut Bluffs Avenue Henderson, NV 89052

3 Beds 2 Baths 1,651 sqft Built 1999

INVESTimate

$439,000

List Price

$1,720

$1,548 - $1,892

Rent Est.

$474,427  ( +8.07%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $265.90
  • 7 Days on Market
  • MLS # : 2223584
  • Updated Date : 08/21/2020 at 14:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,651 sqft
  • Baths : 2 full
Listing Agent

Simply Vegas

Listing Agent's Description

This gorgeous 3Bd, 2 Ba, single story 1779 sq. ft Green Valley Ranch, pool home is the perfect find. Located in the quiet, gated, Copper Ridge subdivision just 2 blocks from the District, this home has been highly upgraded inside & out. Interior features include tile flooring & plush carpet, designer paint treatments, custom shutters & window treatments, complete kitchen remodel w/granite & SS appliances, roll-out cabinets, custom light & fan fixtures, granite bath countertops, frameless shower & tile upgrades, custom built-in bedroom closets, enclosed sunroom, security system. Garage includes built-in cabinets & overhead storage. Outdoor features include new exterior paint, mature landscaping, custom patio cover across the entire back of house, designer pool/spa, built-in BBQ center, sunscreens, great privacy w/color matched stucco block wall fencing on all sides. This is a beautiful, move-in ready home that offers unmatched “model-home” like features throughout. A must-see property!

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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: Green Valley Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k396k

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

Neighborhood: Green Valley Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10802045

* 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
 

$395,100$482,900$439,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,620
Property Tax -$242
Property Insurance -$59
HOA -$35
Property Management Fees -$119
CASH FLOW
-$355

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.

$439,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.07%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,085

INVESTMENT

$122,085

Down Payment
$109,750
Rehab Estimate
$5,750
Closing Costs
$6,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,620

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $109,750
Loan Amount $329,250
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$7,501

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,717

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,720
1$1,7202$1,7503$1,8004$1,9005$1,925
$1,925
RENT COMPS ANALYSIS
  • 2257 Chestnut Bluffs Avenue Henderson, NV 1
    • 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $1.04
    •  
  • 2271 Nashville Avenue #n/a Henderson, NV 2
    • 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1998
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.99
    •  
  • 2275 Chestnut Bluffs Avenue Henderson, NV 3
    • 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 2000
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.01
    •  
  • 2261 Chestnut Bluffs Avenue #0 Henderson, NV 4
    • 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1999
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.07
    •  
  • 2262 Chestnut Bluffs Avenue Henderson, NV 5
    • 3 beds 3 baths ∙ 1,769 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,769 Sqft ∙ Built 1999
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $1.09
    •  
PROPERTY LISTING DETAILS
Lisa Schmidt
1.702.612.3047
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223584
Last Updated: 08/21/2020
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