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PROPERTY INFO
FACTS
- Single Family
- Built In 1993
- Price/Sqft : $250.00
- 2 Days on Market
- MLS # : 2249629
- Updated Date : 11/21/2020 at 09:00
CONSTRUCTION
- Beds : 3
- Floor Size : 1,100 sqft
- Baths : 1 full
Listing Agent
Bhhs Nevada Properties
Listing Agent's Description
BEAUTIFULLY UPGRADED ONE STORY HOME IN A QUIET HENDERSON NEIGHBORHOOD. THE HOME HAS AN UPGRADED KITCHEN WITH GRANITE COUNTERTOPS, STAINLESS STEEL WHIRLPOOL APPLIANCES, AND RESTAINED CABINETS. IN THE KITCHEN IS A CUSTOM STORAGE BENCH IN THE NOOK AREA. THE HOME HAS UPDATED BRUSH NICKEL HARDWARE THROUGHOUT THE HOUSE AS WELL AS UPDATED LIGHT FIXTURES. THE SHOWERS WERE UPDATED WITH MOEN FIXTURES(2018). THE LAUNDRY AREA HAS A SAMSUNG WASHER AND DRYER AS WELL AS NEW UTILITY CABINETS. THE HOUSE HAS NEW WHITE BLINDS LOCATED IN EVERY ROOM. EACH ROOM HAS CUSTOM CLOSET DOORS AND FLOORING IN ALL BEDROOMS HAS BEEN REPLACED WITH WATER RESISTANT LAMINATE FLOORING. THE LANDSCAPE IS LOW MAINTENANCE WITH BOTH FRONT AND BACK OF THE PROPERTY. THERE IS A 7 X 7 SHED (2019) THAT IS LOCATED IN THE BACK OF THE PROPERTY. THE HOMES EXTERIOR WAS PAINTED IN 2016. THE HOME FEATURES A SECURITY GATE, SCHLAGE LOCKS, KEYPAD TO ENTER THE EPOXY FINISHED GARAGE. WATER HEATER WAS REPLACED 2018.
SEE MORE
- 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: Foothills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Foothills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,330 |
| EXPENSES | Loan Payment | -$1,015 |
| Property Tax | -$139 | |
| Property Insurance | -$49 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$9
|
||
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.
$275,000
PROJECTED PRICE
$1,330
PROJECTED RENT
0.48%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.96% |
| Appreciation Year (1-5) | 10.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.63% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$78,625
LOAN DETAILS
$1,015
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $68,750 |
| Loan Amount | $206,250 |
6.33
YEARS SAVED
$23,417
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,330
LIST RENT -
$1.21
LIST RENT PER SQFT
-
$1,191
COMP ESTIMATED VALUE -
$1.08
COMP AVG. RENT PER SQFT
Comps Range
-
266 Prairie Rose Street Henderson, NV 3
- 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1993 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1993
![property image]()
- Rent
- Rent Per SQFT
- $1,330
- $1.21
-
915 Major Avenue Henderson, NV 1
- 3 beds 2 baths ∙ 1,081 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,081 Sqft ∙ Built 1978
![property image]()
LEASED 06/18/20- Rent
- Rent Per SQFT
- $1,075
- $0.99
-
1004 Brookside Court Henderson, NV 2
- 3 beds 1 baths ∙ 1,149 Sqft ∙ Built 1986 3 beds 1 baths ∙ 1,149 Sqft ∙ Built 1986
![property image]()
LEASED 08/15/20- Rent
- Rent Per SQFT
- $1,300
- $1.13
-
228 Fullerton Avenue Henderson, NV 4
- 4 beds 1 baths ∙ 1,200 Sqft ∙ Built 1979 4 beds 1 baths ∙ 1,200 Sqft ∙ Built 1979
![property image]()
LEASED 12/24/19- Rent
- Rent Per SQFT
- $1,350
- $1.13
-
165 Spinnaker Drive Henderson, NV 5
- 3 beds 3 baths ∙ 1,285 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,285 Sqft ∙ Built 1986
![property image]()
LEASED 03/28/20- Rent
- Rent Per SQFT
- $1,400
- $1.09
PROPERTY LISTING DETAILS
1.702.580.8121
Bhhs Nevada Properties
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2249629
Last Updated: 11/21/2020
