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231 Valare Street Henderson, NV 89012

5 Beds 2 Baths 3,014 sqft Built 2002

$450,000

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $149.30
  • 3 Days on Market
  • MLS # : 2243740
  • Updated Date : 11/01/2020 at 15:45
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,014 sqft
  • Baths : 2 full
Listing Agent

Elite Realty

Listing Agent's Description

Immaculately kept 5 bedroom KB Home in Black Mountain area of Henderson! Upstairs large Loft Room can be second family room, homework room, home office. Original owner. Downstairs secondary bedroom and bath w/shower. 3-car garage w/evap, cooler, 2 water heaters. Large corner lot, deck w/view off Master Suite, covered front porch, large covered patio in back yard. Elevated, cul-de-sac corner lot at top of street! Downstairs wood laminate flooring! Newer carpet upstairs! Over $65,000 in additional improvements added since original purchase! Watch virtual tour attached!

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: MacDonald Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $123k549k

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

Neighborhood: MacDonald Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200230024002500Rent in $10802503

* 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
Foothill High School High Regular 2,883 109 7

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

Foothill High School

  • Education Level: High
  • # of students: 2,883
  • # of teachers: 109
7
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,660
Property Tax -$285
Property Insurance -$86
Property Management Fees -$119
CASH FLOW
$140

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.

$450,000

PROJECTED PRICE

$2,290

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 6.4%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$51,693

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,253

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,2003$2,2904$2,3005$2,400
$2,400
RENT COMPS ANALYSIS
  • 231 Valare Street Henderson, NV 3
    • 5 beds 2 baths ∙ 3,014 Sqft ∙ Built 2002 5 beds 2 baths ∙ 3,014 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $0.76
    •  
  • 1402 Blaine Ranch Street Henderson, NV 1
    • 5 beds 2 baths ∙ 2,983 Sqft ∙ Built 1998 5 beds 2 baths ∙ 2,983 Sqft ∙ Built 1998
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.72
    •  
  • 1361 Dunford Court Henderson, NV 2
    • 4 beds 3 baths ∙ 3,036 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,036 Sqft ∙ Built 2002
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.72
    •  
  • 227 Valare Street Henderson, NV 4
    • 4 beds 2 baths ∙ 3,014 Sqft ∙ Built 2001 4 beds 2 baths ∙ 3,014 Sqft ∙ Built 2001
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.76
    •  
  • 215 Opera House Street Henderson, NV 5
    • 4 beds 3 baths ∙ 3,036 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,036 Sqft ∙ Built 2001
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.79
    •  
PROPERTY LISTING DETAILS
Nancy J Cokinda
1.702.596.2497
Elite Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243740
Last Updated: 11/01/2020
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