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2584 Lazy Saddle Drive Henderson, NV 89002

2 Beds 2 Baths 1,079 sqft Built 2003

$199,900

List Price

$1,160

$1K - $1.3K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $185.26
  • 3 Days on Market
  • MLS # : 2255029
  • Updated Date : 12/12/2020 at 16:53
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,079 sqft
  • Baths : 2 full
Listing Agent

Simply Vegas

Listing Agent's Description

Beautiful loft style townhome with attached garage downstairs that has direct access to the home. Large open living space with vaulted ceilings, natural lighting and open area throughout the kitchen, living and dining room. Features also include new laminate wood plank flooring throughout. The master is separate from the second bedroom for privacy. Community is gated and comes with walking trails, pool, skate, and water park!! This is a MUST SEE!

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: River Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k362k

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

Neighborhood: River Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9911875

* 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
J. Marlan Walker International Elementary School Primary Regular 628 39 10
B. Mahlon Brown Junior High School Middle Regular 978 46 NA
Basic High School High Regular 2,367 100 3

J. Marlan Walker International Elementary School

  • Education Level: Primary
  • # of students: 628
  • # of teachers: 39
10
GreatSchools Rating

B. Mahlon Brown Junior High School

  • Education Level: Middle
  • # of students: 978
  • # of teachers: 46
NA
GreatSchools Rating

Basic High School

  • Education Level: High
  • # of students: 2,367
  • # of teachers: 100
3
GreatSchools Rating
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,044$1,276$1,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,160
EXPENSES Loan Payment -$738
Property Tax -$118
Property Insurance -$48
Property Management Fees -$119
CASH FLOW
$137

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.

$199,900

PROJECTED PRICE

$1,160

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.8%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

9.58

YEARS SAVED

$31,231

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,160

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,047

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,145
1$1,1452$1,1503$1,1504$1,160
$1,160
RENT COMPS ANALYSIS
  • 2584 Lazy Saddle Drive Henderson, NV 4
    • 2 beds 2 baths ∙ 1,079 Sqft ∙ Built 2003 2 beds 2 baths ∙ 1,079 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,160
    • $1.08
    •  
  • 1089 Pleasure Lane #1 Henderson, NV 1
    • 2 beds 2 baths ∙ 1,181 Sqft ∙ Built 2006 2 beds 2 baths ∙ 1,181 Sqft ∙ Built 2006
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,145
    • $0.97
    •  
  • 1570 Ward Frontier Lane #1570 Henderson, NV 2
    • 2 beds 1 baths ∙ 1,189 Sqft ∙ Built 2004 2 beds 1 baths ∙ 1,189 Sqft ∙ Built 2004
    property image
    LEASED 07/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.97
    •  
  • 1564 Wild Willey Way Henderson, NV 3
    • 2 beds 2 baths ∙ 1,189 Sqft ∙ Built 2003 2 beds 2 baths ∙ 1,189 Sqft ∙ Built 2003
    property image
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.97
    •  
PROPERTY LISTING DETAILS
Shawn A Sellers
1.702.415.5600
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2255029
Last Updated: 12/12/2020
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