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226 Red Cloud Terrace Henderson, NV 89015

4 Beds 3 Baths 1,823 sqft Built 1993

$430,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $235.87
  • 3 Days on Market
  • MLS # : 2256672
  • Updated Date : 12/19/2020 at 11:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,823 sqft
  • Baths : 2 full , 1 half
Listing Agent

Signature Real Estate Group

Listing Agent's Description

Welcome Home! Fully Remodeled, Absolutely Adorable 4bedroom 4bath Home Featuring: New flooring, Fresh Paint, Baseboards, Granite Countertops, Stainless Steel appliances, 3 Large Master Suites, Deluxe kitchen/walk in pantry, Master balcony with Strip Views!! Additional bonus room downstairs w/french doors, Enclosed Sunroom, Pool Spa, Rv Parking and huge backyard with Oversized Lot!!

SEE MORE

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: Foothills

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $121k355k

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

Neighborhood: Foothills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10081825

* 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
Sue Morrow Elementary School Primary Regular 734 38 9
B. Mahlon Brown Junior High School Middle Regular 978 46 NA
Basic High School High Regular 2,367 100 3

Sue Morrow Elementary School

  • Education Level: Primary
  • # of students: 734
  • # of teachers: 38
9
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
 

$387,000$473,000$430,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,587
Property Tax -$184
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
-$332

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.

$430,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.9%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,700

INVESTMENT

$119,700

Down Payment
$107,500
Rehab Estimate
$5,750
Closing Costs
$6,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,587

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,500
Loan Amount $322,500
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$8,361

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,577

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5253$1,6004$1,6205$1,650
$1,650
RENT COMPS ANALYSIS
  • 226 Red Cloud Terrace Henderson, NV 4
    • 4 beds 3 baths ∙ 1,823 Sqft ∙ Built 1993 4 beds 3 baths ∙ 1,823 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.89
    •  
  • 265 Lilium Street Henderson, NV 1
    • 3 beds 3 baths ∙ 1,818 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,818 Sqft ∙ Built 1995
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.80
    •  
  • 819 Anchor Henderson, NV 2
    • 4 beds 2 baths ∙ 1,693 Sqft ∙ Built 1990 4 beds 2 baths ∙ 1,693 Sqft ∙ Built 1990
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.90
    •  
  • 223 Red Horizon Terrace Henderson, NV 3
    • 3 beds 3 baths ∙ 1,795 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,795 Sqft ∙ Built 1995
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.89
    •  
  • 846 Zinnia Circle Henderson, NV 5
    • 3 beds 3 baths ∙ 1,896 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,896 Sqft ∙ Built 1997
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.87
    •  
PROPERTY LISTING DETAILS
Lacy Colson
1.702.830.0428
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2256672
Last Updated: 12/19/2020
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