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2660 Rich Flavor Place Henderson, NV 89052

5 Beds 3 Baths 3,418 sqft Built 2007

$595,000

List Price

$2,620

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

December 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $174.08
  • 5 Days on Market
  • MLS # : 2254795
  • Updated Date : 12/19/2020 at 08:13
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,418 sqft
  • Baths : 3 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

**MAGNIFICENT SUPERSTAR on the Block** ~ You be the judge! ~ 5-Bedrooms, a Loft, 3 Car garages, Heated Pool/Spa in prime zipcode & Top-rated schools 89052! *Freshly Painted *Large interior living spaces; 2 Family Rooms, 2 Dining, a large Kitchen features accent lighting, miles of counter space, endless cabinets w/pull out shelves, huge walk-in pantry, KitchenAid appliances, a Bfast Bar & Bfast Nook with a Pool view! *A Bdr & Full Bath Downstairs too! *Upstairs Loft is surround sound prewired, comes with a balcony! *Alcove entry to 23'x29' Master SUITE; 2-way Fireplace, WOW, its own Balcony! *Beautiful Jetted Tub, Granite counters & Shower surround, 2 Walk-in Closets! All Kohler toilets w/self closing lids here *3 other Bedrooms & Laundry Rm are upstairs *More cabinets upstairs! *Water Softener & 2 industrial weight overhead storage in garage * 1-month-old Water Heater! **Hang out in this relaxing backyard! Spacious; offers various sitting areas including a large covered patio - SEE!

SEE MORE

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
 

$535,500$654,500$595,000

PURCHASE PRICE

$2,358$2,882$2,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,620
EXPENSES Loan Payment -$2,195
Property Tax -$443
Property Insurance -$93
Property Management Fees -$119
CASH FLOW
-$231

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.

$595,000

PROJECTED PRICE

$2,620

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$163,425

INVESTMENT

$163,425

Down Payment
$148,750
Rehab Estimate
$5,750
Closing Costs
$8,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,195

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $148,750
Loan Amount $446,250
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$25,908

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,620

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,589

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,3303$2,6204$2,6955$2,800
$2,800
RENT COMPS ANALYSIS
  • 2660 Rich Flavor Place Henderson, NV 3
    • 5 beds 4 baths ∙ 3,418 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,418 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,620
    • $0.77
    •  
  • 2653 Hourglass Drive Henderson, NV 1
    • 5 beds 2 baths ∙ 3,151 Sqft ∙ Built 2002 5 beds 2 baths ∙ 3,151 Sqft ∙ Built 2002
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.70
    •  
  • 503 Sierra Peak Court Henderson, NV 2
    • 5 beds 2 baths ∙ 3,237 Sqft ∙ Built 1998 5 beds 2 baths ∙ 3,237 Sqft ∙ Built 1998
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $0.72
    •  
  • 2649 Smooth Blend Place #0 Henderson, NV 4
    • 5 beds 3 baths ∙ 3,418 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,418 Sqft ∙ Built 2006
    LEASED 07/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.79
    •  
  • 2693 Copilico Terrace Henderson, NV 5
    • 4 beds 4 baths ∙ 3,403 Sqft ∙ Built 2012 4 beds 4 baths ∙ 3,403 Sqft ∙ Built 2012
    LEASED 07/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.82
    •  
PROPERTY LISTING DETAILS
Mei Loh-becker
1.702.325.0799
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2254795
Last Updated: 12/19/2020
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