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2607 Grey Stone Road Henderson, NV 89074

4 Beds 2 Baths 2,723 sqft Built 1989

$450,000

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $165.26
  • 3 Days on Market
  • MLS # : 2260456
  • Updated Date : 01/09/2021 at 23:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,723 sqft
  • Baths : 2 full
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Gorgeous home in desirable Green Valley area with 4 bedrooms and 3 car garage. One bedroom is downstairs with 3/4 bath. Kitchen with stainless steel appliances, granite countertops with custom front doors and security gate. This is a must see!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Green Valley South

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k362k

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

Neighborhood: Green Valley South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10801875

* 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
Aggie Roberts Elementary School Primary Regular 805 39 7
Jack L. Schofield Middle School Middle Regular 1,332 51 NA
Silverado High School High Regular 2,263 94 5

Aggie Roberts Elementary School

  • Education Level: Primary
  • # of students: 805
  • # of teachers: 39
7
GreatSchools Rating

Jack L. Schofield Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 51
NA
GreatSchools Rating

Silverado High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
5
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,563
Property Tax -$236
Property Insurance -$80
Property Management Fees -$119
CASH FLOW
$192

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.

$450,000

PROJECTED PRICE

$2,190

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.9%
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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$49,313

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,315

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,1903$2,2504$2,3995$2,515
$2,515
RENT COMPS ANALYSIS
  • 2607 Grey Stone Road Henderson, NV 2
    • 4 beds 2 baths ∙ 2,723 Sqft ∙ Built 1989 4 beds 2 baths ∙ 2,723 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.80
    •  
  • 17 Bishopsgate Henderson, NV 1
    • 4 beds 3 baths ∙ 2,514 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,514 Sqft ∙ Built 1995
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.78
    •  
  • 1 Rising Court Henderson, NV 3
    • 4 beds 3 baths ∙ 2,514 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,514 Sqft ∙ Built 1995
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.89
    •  
  • 22 Almond Henderson, NV 4
    • 5 beds 2 baths ∙ 3,063 Sqft ∙ Built 1988 5 beds 2 baths ∙ 3,063 Sqft ∙ Built 1988
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,399
    • $0.78
    •  
  • 2821 Copper Cove Drive #0 Henderson, NV 5
    • 4 beds 3 baths ∙ 2,645 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,645 Sqft ∙ Built 1993
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,515
    • $0.95
    •  
PROPERTY LISTING DETAILS
Stacey L Heroy
1.702.580.8121
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2260456
Last Updated: 01/09/2021
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