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240 Elkins Circle Henderson, NV 89074

3 Beds 3 Baths 1,909 sqft Built 1995

$395,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $206.91
  • 4 Days on Market
  • MLS # : 2277011
  • Updated Date : 03/19/2021 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,909 sqft
  • Baths : 2 full , 1 half
Listing Agent

Vegas Pro Realty Llc

Listing Agent's Description

Beautiful 2 Story Home in the center of Green Valley. Open floor plan with separate living room and family room, high ceiling in the living room and Large Master Suite with Walk in closet. Wood and tile flooring first floor and the carpet in the upstairs bedrooms. The house close to shopping, dining, schools, parks and much more. A Must See.

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: 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
David M. Cox Elementary School Primary Regular 625 32 8
Barbara And Hank Greenspun Middle School Middle Regular 1,397 55 NA
Coronado High School High Regular 3,240 124 10

David M. Cox Elementary School

  • Education Level: Primary
  • # of students: 625
  • # of teachers: 32
8
GreatSchools Rating

Barbara And Hank Greenspun Middle School

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

Coronado High School

  • Education Level: High
  • # of students: 3,240
  • # of teachers: 124
10
GreatSchools Rating
 

$355,500$434,500$395,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,372
Property Tax -$214
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
-$69

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.

$395,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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

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$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,372

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$20,191

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,713

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6503$1,7004$1,8505$1,980
$1,980
RENT COMPS ANALYSIS
  • 240 Elkins Circle Henderson, NV 3
    • 3 beds 3 baths ∙ 1,909 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,909 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.89
    •  
  • 302 Abbington Street #0 Henderson, NV 1
    • 3 beds 3 baths ∙ 1,758 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,758 Sqft ∙ Built 1994
    property image
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.91
    •  
  • 2241 Le Conte Henderson, NV 2
    • 3 beds 3 baths ∙ 1,909 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,909 Sqft ∙ Built 1996
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.86
    •  
  • 2088 Club Crest Way Henderson, NV 4
    • 4 beds 3 baths ∙ 2,096 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,096 Sqft ∙ Built 1989
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.88
    •  
  • 380 Legacy Henderson, NV 5
    • 4 beds 3 baths ∙ 2,096 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,096 Sqft ∙ Built 1989
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $0.94
    •  
PROPERTY LISTING DETAILS
Tiffany H Chau
1.702.333.1878
Vegas Pro Realty Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2277011
Last Updated: 03/19/2021
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