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2509 Crater Rock Street Henderson, NV 89044

3 Beds 1 Baths 1,768 sqft Built 2005

$379,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $214.37
  • 11 Days on Market
  • MLS # : 2248342
  • Updated Date : 11/19/2020 at 12:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,768 sqft
  • Baths : 1 full
Listing Agent

Jack Clark Realty

Listing Agent's Description

LOCATION, LOCATION, LOCATION. HOME IS ON A PREMIUM LOT WITH MOUNTAIN VIEWS. POPULAR FRANKLIN MODEL WITH LARGE OPEN FLOOR PLAN. CROWN MOULDING & CEILING FANS THROUGHOUT, NEW CARPET, SHUTTERS ON FRONT WINDOWS, SOLAR SCREENS IN BACK, LARGE PATIO WITH VIEW OF THE SPRING MOUNTAIN RANGE TO THE WEST. NEWER A/C, WATER HEATER AND GARAGE DOOR OPENER. MASTER BATH SHOWER ENCLOSURE IN PROCESS OF BEING REPLACED. SHOW AND SELL!

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: Solera at Anthem

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k362k

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

Neighborhood: Solera at Anthem

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9571875

* 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
 

$341,100$416,900$379,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,398
Property Tax -$234
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
-$313

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.

$379,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,185

INVESTMENT

$106,185

Down Payment
$94,750
Rehab Estimate
$5,750
Closing Costs
$5,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $94,750
Loan Amount $284,250
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$6,288

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,644

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6253$1,6504$1,7005$1,700
$1,700
RENT COMPS ANALYSIS
  • 2509 Crater Rock Street Henderson, NV 1
    • 3 beds 1 baths ∙ 1,768 Sqft ∙ Built 2005 3 beds 1 baths ∙ 1,768 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.85
    •  
  • 2373 Wood Village Drive #0 Henderson, NV 2
    • 3 beds 2 baths ∙ 1,712 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,712 Sqft ∙ Built 2007
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.95
    •  
  • 2402 Jada Drive Henderson, NV 3
    • 3 beds 2 baths ∙ 1,768 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,768 Sqft ∙ Built 2005
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.93
    •  
  • 2268 Camargue Lane Henderson, NV 4
    • 3 beds 2 baths ∙ 1,928 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,928 Sqft ∙ Built 2007
    property image
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.88
    •  
  • 2603 Starlight Valley Street Henderson, NV 5
    • 3 beds 2 baths ∙ 1,768 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,768 Sqft ∙ Built 2006
    property image
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.96
    •  
PROPERTY LISTING DETAILS
Elizabeth A Clark
1.702.271.4441
Jack Clark Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2248342
Last Updated: 11/19/2020
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