Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

231 Honeywood Street Henderson, NV 89074

3 Beds 2 Baths 1,784 sqft Built 1995

INVESTimate

$358,000

List Price

$1,590

$1,431 - $1,749

Rent Est.

$391,115  ( +9.25%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $200.67
  • 6 Days on Market
  • MLS # : 2223375
  • Updated Date : 08/25/2020 at 17:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,784 sqft
  • Baths : 2 full
Listing Agent

Re/max Reliance

Listing Agent's Description

Maintained single story home in Green Valley with lots of curb appeal & ready to move in. Open floor plan with vaulted ceilings, tile flooring throughout. Sunny kitchen with island and backsplash and track lighting. Family/Dining Room with fireplace. Three bedrooms and den. Master Bed & Spa like Bath with a garden tub and shower. Close to the District, the Galleria Mall, Airport, Freeway Access and the Las Vegas Strip. Low maintenance yard. Steps to miles of walking trails.

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: Green Valley North

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $121k340k

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

Neighborhood: Green Valley North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10801825

* 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
James Gibson Elementary School Primary Regular 490 28 8
Barbara And Hank Greenspun Middle School Middle Regular 1,397 55 NA
Green Valley High School High Regular 3,092 122 9

James Gibson Elementary School

  • Education Level: Primary
  • # of students: 490
  • # of teachers: 28
8
GreatSchools Rating

Barbara And Hank Greenspun Middle School

  • Education Level: Middle
  • # of students: 1,397
  • # of teachers: 55
NA
GreatSchools Rating

Green Valley High School

  • Education Level: High
  • # of students: 3,092
  • # of teachers: 122
9
GreatSchools Rating
 

$322,200$393,800$358,000

PURCHASE PRICE

$1,431$1,749$1,590

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

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$1,321
Property Tax -$197
Property Insurance -$62
HOA -$41
Property Management Fees -$119
CASH FLOW
-$149

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.

$358,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.25%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$100,620

INVESTMENT

$100,620

Down Payment
$89,500
Rehab Estimate
$5,750
Closing Costs
$5,370

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,321

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,500
Loan Amount $268,500
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$14,887

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,597

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5503$1,5904$1,6005$1,650
$1,650
RENT COMPS ANALYSIS
  • 231 Honeywood Street Henderson, NV 3
    • 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.89
    •  
  • 204 Odyssey Henderson, NV 1
    • 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 1995
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.90
    •  
  • 214 Mazatlan Street Henderson, NV 2
    • 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 1996
    property image
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.90
    •  
  • 1837 Candle Bright Drive #0 Henderson, NV 4
    • 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 1992
    property image
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.90
    •  
  • 232 Geronimo Court #n/a Henderson, NV 5
    • 4 beds 3 baths ∙ 1,872 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,872 Sqft ∙ Built 1988
    property image
    LEASED 12/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
PROPERTY LISTING DETAILS
Robert Ratliff
1.702.807.5528
Re/max Reliance
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223375
Last Updated: 08/25/2020
BESbswy