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2257 Mundare Drive Henderson, NV 89002

5 Beds 2 Baths 2,782 sqft Built 2017

$379,900

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $136.56
  • 6 Days on Market
  • MLS # : 2243458
  • Updated Date : 10/30/2020 at 02:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,782 sqft
  • Baths : 2 full
Listing Agent

Petra Realty Group

Listing Agent's Description

Stunning 2818 sq ft. 5 bedroom home w/ three bathrooms and a loft, two car attached direct entry garage, custom touches including granite counter tops and custom cabinets, USB outlets throughout, surround sound prewired, entertainment friendly floorplan, all appliances, great backyard for your enjoyment. Interior Photos are as modeled by builders. Driveway custom with pavers.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: River Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k362k

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

Neighborhood: River Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9911875

* 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 Dooley Elementary School Primary Regular 416 27 8
B. Mahlon Brown Junior High School Middle Regular 978 46 NA
Basic High School High Regular 2,367 100 3

John Dooley Elementary School

  • Education Level: Primary
  • # of students: 416
  • # of teachers: 27
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
 

$341,910$417,890$379,900

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,402
Property Tax -$306
Property Insurance -$81
Property Management Fees -$119
CASH FLOW
$242

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.

$379,900

PROJECTED PRICE

$2,150

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.8%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,424

INVESTMENT

$106,424

Down Payment
$94,975
Rehab Estimate
$5,750
Closing Costs
$5,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,402

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $94,975
Loan Amount $284,925
See What Happens When You Reinvest Cash Flow

9.33

YEARS SAVED

$56,839

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,142

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1003$2,1504$2,2505$2,295
$2,295
RENT COMPS ANALYSIS
  • 2257 Mundare Drive Henderson, NV 3
    • 5 beds 2 baths ∙ 2,782 Sqft ∙ Built 2017 5 beds 2 baths ∙ 2,782 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.77
    •  
  • 905 Spiracle Avenue Henderson, NV 1
    • 4 beds 4 baths ∙ 2,617 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,617 Sqft ∙ Built 2016
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.76
    •  
  • 2248 Mundare Drive Henderson, NV 2
    • 5 beds 3 baths ∙ 2,782 Sqft ∙ Built 2017 5 beds 3 baths ∙ 2,782 Sqft ∙ Built 2017
    property image
    LEASED 10/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.75
    •  
  • 2233 Mundare Drive Henderson, NV 4
    • 5 beds 3 baths ∙ 2,988 Sqft ∙ Built 2017 5 beds 3 baths ∙ 2,988 Sqft ∙ Built 2017
    property image
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.75
    •  
  • 2225 Mundare Drive Henderson, NV 5
    • 5 beds 2 baths ∙ 2,782 Sqft ∙ Built 2017 5 beds 2 baths ∙ 2,782 Sqft ∙ Built 2017
    property image
    LEASED 07/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.82
    •  
PROPERTY LISTING DETAILS
Kris E Kaye
1.702.574.9212
Petra Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243458
Last Updated: 10/30/2020
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