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2284 River Grove Drive Henderson, NV 89044

2 Beds 2 Baths 3,172 sqft Built 2007

$776,000

List Price

$2,650

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $244.64
  • 10 Days on Market
  • MLS # : 2255294
  • Updated Date : 12/16/2020 at 00:20
CONSTRUCTION
  • Beds : 2
  • Floor Size : 3,172 sqft
  • Baths : 1 full , 1 half
Listing Agent

Vegas International Properties

Listing Agent's Description

Beautiful Highly Upgraded Home located on a corner lot, courtyard enclosure w/aggregate concrete, coach lights and stunning entrance gates, double door entranceway, Ceramic tile throughout, volume ceiling, shutters, drapes, french shades, recessed lighting, ceilings fans, intercom with CD player, open den currently used as a office, very open floorplan, Dramatic formal living and dining room w/lot of natural light & wet bar, Kitchen w/rasied panel Cherrywood Cabinets, Granite Countertops & Stainless Steel Appliances, R/O system, walk-in pantry, Family room w/fireplace, Master suite w/sitting area, Master bath w/double sinks, separate tub & shower, rear covered patio, solar heated Lap Pool & Spa, Lamp post lighting, Paver walkways. Laundry Room with cabinets and sink, Garage with epoxy coated floor, lots of cabinets

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: Sun City Anthem

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k397k

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

Neighborhood: Sun City Anthem

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10802028

* 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
Shirley And Bill Wallin Elementary School Primary Regular 1,067 51 10
Del E Webb Middle School Middle Regular 1,863 74 NA
Liberty High School High Regular 2,496 105 5

Shirley And Bill Wallin Elementary School

  • Education Level: Primary
  • # of students: 1,067
  • # of teachers: 51
10
GreatSchools Rating

Del E Webb Middle School

  • Education Level: Middle
  • # of students: 1,863
  • # of teachers: 74
NA
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,496
  • # of teachers: 105
5
GreatSchools Rating
 

$698,400$853,600$776,000

PURCHASE PRICE

$2,385$2,915$2,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,650
EXPENSES Loan Payment -$2,863
Property Tax -$451
Property Insurance -$89
Property Management Fees -$119
CASH FLOW
-$871

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.

$776,000

PROJECTED PRICE

$2,650

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 5.1%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

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$211,390

INVESTMENT

$211,390

Down Payment
$194,000
Rehab Estimate
$5,750
Closing Costs
$11,640

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,863

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $194,000
Loan Amount $582,000
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$3,581

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,650

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,672

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,5003$2,6004$2,6505$2,985
$2,985
RENT COMPS ANALYSIS
  • 2284 River Grove Drive Henderson, NV 4
    • 2 beds 2 baths ∙ 3,172 Sqft ∙ Built 2007 2 beds 2 baths ∙ 3,172 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.84
    •  
  • 2181 Pont Alma Court Henderson, NV 1
    • 2 beds 3 baths ∙ 2,846 Sqft ∙ Built 2007 2 beds 3 baths ∙ 2,846 Sqft ∙ Built 2007
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.86
    •  
  • 2334 Sandstone Cliffs Drive Henderson, NV 2
    • 2 beds 3 baths ∙ 3,172 Sqft ∙ Built 2005 2 beds 3 baths ∙ 3,172 Sqft ∙ Built 2005
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.79
    •  
  • 2237 Turner Falls Street Henderson, NV 3
    • 2 beds 3 baths ∙ 3,172 Sqft ∙ Built 2006 2 beds 3 baths ∙ 3,172 Sqft ∙ Built 2006
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.82
    •  
  • 2564 Forest City Henderson, NV 5
    • 2 beds 3 baths ∙ 3,318 Sqft ∙ Built 2002 2 beds 3 baths ∙ 3,318 Sqft ∙ Built 2002
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,985
    • $0.90
    •  
PROPERTY LISTING DETAILS
David B Dilks
1.702.524.3130
Vegas International Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2255294
Last Updated: 12/16/2020
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