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2364 Red Valley Avenue Henderson, NV 89044

3 Beds 1 Baths 2,036 sqft Built 2005

INVESTimate

$490,000

List Price

$1,960

$1,764 - $2,156

Rent Est.

$515,039  ( +5.11%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $240.67
  • 2 Days on Market
  • MLS # : 2224685
  • Updated Date : 08/25/2020 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,036 sqft
  • Baths : 1 full
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Wonderfully upgraded 3 bedroom Madison model home on corner lot with magnificent city and mountain views from inside the home. Beautifully appointed with hardwood and tile flooring throughout home. Attention to detail throughout this home.Crown molding, S/S appliances with double ovens! Covered patio and outdoor area for dining and relaxing to take in those magnificent views!

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
 

$441,000$539,000$490,000

PURCHASE PRICE

$1,764$2,156$1,960

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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,808
Property Tax -$275
Property Insurance -$67
HOA -$303
Property Management Fees -$119
CASH FLOW
-$611

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.

$490,000

PROJECTED PRICE

$1,960

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 5.11%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$135,600

INVESTMENT

$135,600

Down Payment
$122,500
Rehab Estimate
$5,750
Closing Costs
$7,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,808

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $122,500
Loan Amount $367,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$706

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,975

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9003$1,9604$2,0005$2,075
$2,075
RENT COMPS ANALYSIS
  • 2364 Red Valley Avenue Henderson, NV 3
    • 3 beds 1 baths ∙ 2,036 Sqft ∙ Built 2005 3 beds 1 baths ∙ 2,036 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.96
    •  
  • 2236 Cordaville Drive Henderson, NV 1
    • 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 2006
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.03
    •  
  • 2341 Shorewood Hills Avenue Henderson, NV 2
    • 3 beds 2 baths ∙ 2,046 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,046 Sqft ∙ Built 2004
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.93
    •  
  • 42 Emerald Dunes Circle Henderson, NV 4
    • 3 beds 2 baths ∙ 2,072 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,072 Sqft ∙ Built 2001
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.97
    •  
  • 2179 Crescent Heights Avenue Henderson, NV 5
    • 3 beds 1 baths ∙ 2,190 Sqft ∙ Built 2005 3 beds 1 baths ∙ 2,190 Sqft ∙ Built 2005
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.95
    •  
PROPERTY LISTING DETAILS
Linda Murphy
1.702.622.1877
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224685
Last Updated: 08/25/2020
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