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2502 Fanano Street Henderson, NV 89044

3 Beds 2 Baths 2,240 sqft Built 2016

$475,000

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2016
  • Price/Sqft : $212.05
  • 21 Days on Market
  • MLS # : 2240876
  • Updated Date : 11/03/2020 at 12:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,240 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Market Place

Listing Agent's Description

*AMAZING HOME IN THE HEART OF INSPIRADA W OPEN FLR PLAN W SHUTTERS & GREAT CURB APPEAL*LOW MAINTENANCE DESERT LNDSCPNG*UPGRADED FLOORING (TILE/CARPET W UPGRADED BASEBOARDS)/TILE FLRING IN GARAGE, SNAP TILE, EXTRA LGHTNG W STORAGE SPACE*GRANITE CNTRTPS IN GRMT KTCHN W SOFT CLOSE KTCHN DRAWERS, LRG ISLAND W AMPLE STORAGE, POT DRAWERS, UPGRADED SINK/FAUCET &SOAP DISPENSER,TRASH/RECYCLE IN DRWR,OUTLETS ABOVE CABINETS(EACH END)&ROLL OUT SHELVING, BACKSPLASH,NEW BOSCH DSHWSHR, LRG WALK-IN PANTRY W SELF CLOSING DOOR*FRAMED MRRRS IN BTHRMS*LRG STUDY DEN/ OFFICE SPACE W DBL DRS & CEILING FAN*SPACIOUS BDRMS*MSTR BTHRM W PEDRAFINA SOLID SURFACE SHWR/CNTRTPS, ADDITIONAL OUTLETS IN LOWER CABINETS,LRG SHWR*LNDRY RM W SINK/CABINETS*COVERED PATIO IN BACKYARD W PAVERS, SOLAR PATIO SHADES, MOTION DETECTING LIGHTS, LOW MAINT. LANDSCAPING & EXTENDED PATIO*TANKLESS WATER HEATER & WATER SOFTENER*BBQ WITH SALE*TONS OF COMMUNITY AMENITIES SUCH AS COMMUNITY PL, TENNIS COURTS, JOGGING & PLAYGROUND*

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: 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
Robert And Sandy Ellis Elementary School Primary Unknown NA
Del E Webb Middle School Middle Regular 1,863 74 NA
Liberty High School High Regular 2,496 105 5

Robert And Sandy Ellis Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
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
 

$427,500$522,500$475,000

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,753
Property Tax -$323
Property Insurance -$71
Property Management Fees -$119
CASH FLOW
-$195

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.

$475,000

PROJECTED PRICE

$2,070

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 5.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$20,415

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,234

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,070
1$2,0702$2,2003$2,2504$2,3005$2,350
$2,350
RENT COMPS ANALYSIS
  • 2502 Fanano Street Henderson, NV 1
    • 3 beds 2 baths ∙ 2,240 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,240 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $0.92
    •  
  • 2521 Bankhurst Street #0 Henderson, NV 2
    • 4 beds 3 baths ∙ 2,434 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,434 Sqft ∙ Built 2015
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.90
    •  
  • 2507 Sylvan Hymn Street Henderson, NV 3
    • 4 beds 3 baths ∙ 2,148 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,148 Sqft ∙ Built 2018
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.05
    •  
  • 3052 Split Oak Avenue Henderson, NV 4
    • 4 beds 3 baths ∙ 2,187 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,187 Sqft ∙ Built 2016
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.05
    •  
  • 2388 Via Alicante Henderson, NV 5
    • 3 beds 4 baths ∙ 2,365 Sqft ∙ Built 2013 3 beds 4 baths ∙ 2,365 Sqft ∙ Built 2013
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.99
    •  
PROPERTY LISTING DETAILS
Richard J Brenkus
1.702.456.5959
Keller Williams Market Place
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2240876
Last Updated: 11/03/2020
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