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2615 Earthen Mesa Terrace Henderson, NV 89052

5 Beds 3 Baths 2,679 sqft Built 2002

$500,000

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $186.64
  • 2 Days on Market
  • MLS # : 2270039
  • Updated Date : 02/14/2021 at 00:20
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,679 sqft
  • Baths : 3 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

WELCOME TO THE MOST STUNNING, CORNER SIDE HOUSE, LOCATED IN THE HEART OF HENDERSON, WITH GREAT ACCESS TO RESTAURANTS, FREEWAY, SHOPPING CENTERS, YOU NAME IT. THIS GORGEOUS HOUSE WITH BEAUTIFUL LANDSCAPING IN FRONT AND BACK YARD, HAS 5 BEDROOMS, ONE BEDROOM DOWN STAIRS AND 3 FULL BATHROOMS. ENJOY COOKING IN THE UPGRADED KITCHEN, WITH WIDE PANTRY. YOU CAN ENJOY THE WARMTH OF THE FIREPLACE WHILE WATCHING TV IN YOUR SEPARATE FAMILY ROOM. IF YOU ARE LOOKING FOR AN OPEN FLOOR, DOUBLE CEILING HOUSE IN A PEACEFUL AND QUIET NEIGHBORHOOD, THIS UNIQUE HOUSE IS ABSOLUTELY A PERFECT CHOICE!

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MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Southfork

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k393k

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

Neighborhood: Southfork

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10802255

* 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
Glen C. Taylor Elementary School Primary Regular 961 46 9
Bob Miller Middle School Middle Regular 1,600 59 NA
Coronado High School High Regular 3,240 124 10

Glen C. Taylor Elementary School

  • Education Level: Primary
  • # of students: 961
  • # of teachers: 46
9
GreatSchools Rating

Bob Miller Middle School

  • Education Level: Middle
  • # of students: 1,600
  • # of teachers: 59
NA
GreatSchools Rating

Coronado High School

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

$450,000$550,000$500,000

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,737
Property Tax -$281
Property Insurance -$79
Property Management Fees -$119
CASH FLOW
-$16

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.

$500,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.0%
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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,737

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $125,000
Loan Amount $375,000
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$32,024

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,344

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2003$2,2754$2,3955$2,525
$2,525
RENT COMPS ANALYSIS
  • 2615 Earthen Mesa Terrace Henderson, NV 2
    • 5 beds 3 baths ∙ 2,679 Sqft ∙ Built 2002 5 beds 3 baths ∙ 2,679 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.82
    •  
  • 2492 Crystal Ship Court Henderson, NV 1
    • 4 beds 3 baths ∙ 2,679 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,679 Sqft ∙ Built 2002
    property image
    LEASED 11/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.78
    •  
  • 2486 Crystal Ship Henderson, NV 3
    • 4 beds 3 baths ∙ 2,679 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,679 Sqft ∙ Built 2002
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,275
    • $0.85
    •  
  • 2482 Silver Beach Drive Henderson, NV 4
    • 4 beds 4 baths ∙ 2,586 Sqft ∙ Built 2000 4 beds 4 baths ∙ 2,586 Sqft ∙ Built 2000
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.93
    •  
  • 2603 Earthen Mesa Terrace Henderson, NV 5
    • 5 beds 3 baths ∙ 2,679 Sqft ∙ Built 2002 5 beds 3 baths ∙ 2,679 Sqft ∙ Built 2002
    property image
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,525
    • $0.94
    •  
PROPERTY LISTING DETAILS
Maryam Mohavvelaty
1.702.504.6939
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2270039
Last Updated: 02/14/2021
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