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251 Rancho Drive Henderson, NV 89015

4 Beds 2 Baths 3,115 sqft Built 1991

$674,999

List Price

$2,620

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $216.69
  • 3 Days on Market
  • MLS # : 2263543
  • Updated Date : 01/30/2021 at 02:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,115 sqft
  • Baths : 2 full
Listing Agent

Signature Real Estate Group

Listing Agent's Description

Custom home checks every single box! NO HOA, single story, approximately half acre, pool/spa, RV gate/Parking, OWNED SOLAR, side loading 3 car attached garage, additional detached approximately 6+ car garage for your RV/toys etc, separate living quarters/casita. This gem is situated on an elevated corner lot with extensive city and mountain views. It boasts excellent curb appeal and is located in family friendly Henderson featuring noteworthy nearby schools. Approximately $15+/- NV Energy paid monthly is TOTAL cost for power...YES you read that right. Interior of home boasts open, airy and free flowing floor plan with a formal living room, separate oversized family/great room, 4 bedrooms and 3 full bathrooms. Massive pantry is adjacent to gourmet kitchen allowing for long term storage. Both attached and detached garage spaces are cooled evaporatively for summer comfort. Mature front & rear landscaping along with full length, rear covered patio create extensive privacy. Home has it all!

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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: Black Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $111k340k

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

Neighborhood: Black Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9451825

* 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
Ulis Newton Elementary School Primary Regular 611 35 7
Lyal Burkholder Middle School Middle Regular 747 34 NA
Foothill High School High Regular 2,883 109 7

Ulis Newton Elementary School

  • Education Level: Primary
  • # of students: 611
  • # of teachers: 35
7
GreatSchools Rating

Lyal Burkholder Middle School

  • Education Level: Middle
  • # of students: 747
  • # of teachers: 34
NA
GreatSchools Rating

Foothill High School

  • Education Level: High
  • # of students: 2,883
  • # of teachers: 109
7
GreatSchools Rating
 

$607,499$742,499$674,999

PURCHASE PRICE

$2,358$2,882$2,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,620
EXPENSES Loan Payment -$2,345
Property Tax -$371
Property Insurance -$88
Property Management Fees -$119
CASH FLOW
-$302

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.

$674,999

PROJECTED PRICE

$2,620

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.2%
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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$184,625

INVESTMENT

$184,625

Down Payment
$168,750
Rehab Estimate
$5,750
Closing Costs
$10,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,345

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $168,750
Loan Amount $506,249
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$20,523

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,620

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,648

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,5003$2,6204$2,950
$2,950
RENT COMPS ANALYSIS
  • 251 Rancho Drive Henderson, NV 3
    • 4 beds 2 baths ∙ 3,115 Sqft ∙ Built 1991 4 beds 2 baths ∙ 3,115 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $2,620
    • $0.84
    •  
  • 1156 Highbury Grove Street Henderson, NV 1
    • 4 beds 3 baths ∙ 2,805 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,805 Sqft ∙ Built 2006
    LEASED 08/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.78
    •  
  • 1061 Lush Hillside Court Henderson, NV 2
    • 4 beds 2 baths ∙ 2,973 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,973 Sqft ∙ Built 2004
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.84
    •  
  • 100 Longacres Drive Henderson, NV 4
    • 5 beds 3 baths ∙ 3,188 Sqft ∙ Built 1991 5 beds 3 baths ∙ 3,188 Sqft ∙ Built 1991
    LEASED 01/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.93
    •  
PROPERTY LISTING DETAILS
Todd Beeten
1.702.812.8836
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2263543
Last Updated: 01/30/2021
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