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2531 Romanza Road Henderson, NV 89052

2 Beds 1 Baths 1,160 sqft Built 2001

$319,000

List Price

$1,230

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $275.00
  • 4 Days on Market
  • MLS # : 2243768
  • Updated Date : 11/02/2020 at 14:35
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,160 sqft
  • Baths : 1 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

“HEAD TO TOE” REMODEL. From the sparkling quartz counters in the kitchen & bathrooms to the waterproof vinyl plank flooring and trendy 12”x24” ceramic tile in the bathrooms, everywhere you look is aesthetically pleasing. The classic look of oil rubbed bronze fixtures & hardware with light walls and accent woodwork provide visual symmetry. Professionally painted kitchen cabinets, quartz counters w/waterfall edge, pull-out drawers, Samsung appliance suite make kitchen chores a breeze. The opening from kitchen to great room was widened to create a more cohesive flow. The master ensuite features a large bedroom with window seat. Completely redone master bath w/oversized shower, trendy feature tile, seamless barn styled door, new vanity w/Calcutta quartz counter and custom built-ins in the closet. Guest bath has been updated w/new vanity, lighting, flooring. Enjoy indoor/outdoor living on the stamped concrete patio with wrought iron fencing. Even the garage is finished and gorgeous!

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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: 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
Elise L. Wolff Elementary School Primary Regular 935 46 10
Del E Webb Middle School Middle Regular 1,863 74 NA
Coronado High School High Regular 3,240 124 10

Elise L. Wolff Elementary School

  • Education Level: Primary
  • # of students: 935
  • # of teachers: 46
10
GreatSchools Rating

Del E Webb Middle School

  • Education Level: Middle
  • # of students: 1,863
  • # of teachers: 74
NA
GreatSchools Rating

Coronado High School

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

$287,100$350,900$319,000

PURCHASE PRICE

$1,107$1,353$1,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,230
EXPENSES Loan Payment -$1,177
Property Tax -$171
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
-$287

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.

$319,000

PROJECTED PRICE

$1,230

PROJECTED RENT

0.39%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,285

INVESTMENT

$90,285

Down Payment
$79,750
Rehab Estimate
$5,750
Closing Costs
$4,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,177

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,750
Loan Amount $239,250
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$4,544

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,230

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,351

    COMP ESTIMATED VALUE
  • $1.16

    COMP AVG. RENT PER SQFT
Comps Range
$1,230
1$1,2302$1,2503$1,2504$1,3755$1,375
$1,375
RENT COMPS ANALYSIS
  • 2531 Romanza Road Henderson, NV 1
    • 2 beds 1 baths ∙ 1,160 Sqft ∙ Built 2001 2 beds 1 baths ∙ 1,160 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,230
    • $1.06
    •  
  • 2513 Libretto Avenue Henderson, NV 2
    • 2 beds 1 baths ∙ 1,096 Sqft ∙ Built 2001 2 beds 1 baths ∙ 1,096 Sqft ∙ Built 2001
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.14
    •  
  • 2520 Libretto Henderson, NV 3
    • 2 beds 1 baths ∙ 1,096 Sqft ∙ Built 2001 2 beds 1 baths ∙ 1,096 Sqft ∙ Built 2001
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.14
    •  
  • 2539 Libretto Avenue Henderson, NV 4
    • 2 beds 2 baths ∙ 1,160 Sqft ∙ Built 2001 2 beds 2 baths ∙ 1,160 Sqft ∙ Built 2001
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.19
    •  
  • 2532 Libretto Avenue #n/a Henderson, NV 5
    • 2 beds 2 baths ∙ 1,160 Sqft ∙ Built 2001 2 beds 2 baths ∙ 1,160 Sqft ∙ Built 2001
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.19
    •  
PROPERTY LISTING DETAILS
Dianne M Simmons
1.702.349.9656
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243768
Last Updated: 11/02/2020
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