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241 Shortstop Street Henderson, NV 89074

4 Beds 3 Baths 2,036 sqft Built 2014

$385,000

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2014
  • Price/Sqft : $189.10
  • 3 Days on Market
  • MLS # : 2246129
  • Updated Date : 11/06/2020 at 17:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,036 sqft
  • Baths : 2 full , 1 half
Listing Agent

Innovative Real Estate Strateg

Listing Agent's Description

Come see this beautifully maintained 4 bedroom 2.5 bath home! This home is the epitome of homeowner pride. This home is located near parks, walking trails, shopping, restaurants, and freeway access. The first floor has easy to maintain tile and an upgraded kitchen with a large island. Enjoy the easy to maintain backyard -it has been wonderfully landscaped with turf, trees, and pavers. This home's location and community are perfect fits for you. Current residents are the original owners of the home and have kept it in great shape - Don't miss out on this rare find.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Gibson Springs

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $121k340k

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

Neighborhood: Gibson Springs

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
Selma F. Bartlett Elementary School Primary Regular 682 35 10
Barbara And Hank Greenspun Middle School Middle Regular 1,397 55 NA
Green Valley High School High Regular 3,092 122 9

Selma F. Bartlett Elementary School

  • Education Level: Primary
  • # of students: 682
  • # of teachers: 35
10
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
 

$346,500$423,500$385,000

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,420
Property Tax -$266
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
$7

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.

$385,000

PROJECTED PRICE

$1,880

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.8%
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$20k

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$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$30,924

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,965

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,7953$1,8504$1,8805$1,895
$1,895
RENT COMPS ANALYSIS
  • 241 Shortstop Street Henderson, NV 4
    • 4 beds 3 baths ∙ 2,036 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,036 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.92
    •  
  • 1386 Winter Solstice Avenue Henderson, NV 1
    • 4 beds 2 baths ∙ 1,920 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,920 Sqft ∙ Built 1996
    property image
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.90
    •  
  • 240 Sweet Spot Street Henderson, NV 2
    • 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 2014
    property image
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.98
    •  
  • 236 Shortstop Henderson, NV 3
    • 3 beds 3 baths ∙ 1,836 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,836 Sqft ∙ Built 2014
    property image
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.01
    •  
  • 151 Sand Lake Street Henderson, NV 5
    • 3 beds 3 baths ∙ 1,944 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,944 Sqft ∙ Built 2017
    property image
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.97
    •  
PROPERTY LISTING DETAILS
Jordan Claudio
1.702.515.9655
Innovative Real Estate Strateg
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2246129
Last Updated: 11/06/2020
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