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2270 Surrey Meadows Avenue Henderson, NV 89052

4 Beds 2 Baths 2,099 sqft Built 1998

$405,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $192.95
  • 6 Days on Market
  • MLS # : 2255805
  • Updated Date : 12/19/2020 at 13:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,099 sqft
  • Baths : 2 full
Listing Agent

The Brokerage A Re Firm

Listing Agent's Description

WOW! GREEN VALLEY RANCH STUNNER! EXTRA LARGE LOT WITH GREAT SPACE BETWEEN NEIGHBOR TO THE EAST. THIS 2 STORY HOME FEATURES A BEDROOM AND 3/4 BATHROOM DOWNSTAIRS, LARGE 2 CAR GARAGE, GREAT AND OPEN UPSTAIRS AND DOWNSTAIRS FLOORPLAN WITH 4 BEDS, 2 AND 3/4 BATHS, AND A WONDERFUL UPSTAIRS LOFT. IN THE DAYS OF WORKING FROM HOME, THIS HOME FEATURES A LAYOUT THAT MAKES IT EASIER THAN EVER. POOL SIZED LOT WITH COVERED PATIO AND BALCONY. JUST OUTSIDE THE MOST COVETED CORRIDOR IN HENDERSON, THIS HOME SITS NEAR THE UPCOMING HENDERSON SILVER KNIGHTS HOCKEY ARENA, GREEN VALLEY RANCH HOTEL AND THE DISTRICT SHOPPING AREA, WORLD CLASS DINING, PARKS, AND MORE.

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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
 

$364,500$445,500$405,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,494
Property Tax -$234
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
$85

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.

$405,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.1%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$113,075

INVESTMENT

$113,075

Down Payment
$101,250
Rehab Estimate
$5,750
Closing Costs
$6,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,494

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $101,250
Loan Amount $303,750
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$42,458

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,078

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$1,9953$2,0004$2,2005$2,200
$2,200
RENT COMPS ANALYSIS
  • 2270 Surrey Meadows Avenue Henderson, NV 3
    • 4 beds 2 baths ∙ 2,099 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,099 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.95
    •  
  • 323 Brilliant Summit Circle #n/a Henderson, NV 1
    • 3 beds 3 baths ∙ 2,099 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,099 Sqft ∙ Built 1998
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.95
    •  
  • 2414 Encouraging Court Henderson, NV 2
    • 3 beds 4 baths ∙ 2,222 Sqft ∙ Built 2004 3 beds 4 baths ∙ 2,222 Sqft ∙ Built 2004
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.90
    •  
  • 2414 Esteem Ridge Drive Henderson, NV 4
    • 3 beds 3 baths ∙ 2,101 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,101 Sqft ∙ Built 2005
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.05
    •  
  • 2289 Surrey Meadows Avenue Henderson, NV 5
    • 4 beds 2 baths ∙ 2,078 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,078 Sqft ∙ Built 1999
    LEASED 12/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.06
    •  
PROPERTY LISTING DETAILS
Geoffrey W Lavell
1.702.476.6000
The Brokerage A Re Firm
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2255805
Last Updated: 12/19/2020
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