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2672 Nye Street Henderson, NV 89074

4 Beds 3 Baths 2,096 sqft Built 1992

INVESTimate

$399,900

List Price

$1,680

$1,512 - $1,848

Rent Est.

$436,891  ( +9.25%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1992
  • Price/Sqft : $190.79
  • 7 Days on Market
  • MLS # : 2223742
  • Updated Date : 08/21/2020 at 18:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,096 sqft
  • Baths : 2 full , 1 half
Listing Agent

B C Adobe Realty, Inc.

Listing Agent's Description

CONVENIENT GREEN VALLEY LOCATION AND NO HOA!! LOVELY TWO STORY FOUR BEDROOM THREE BATH HOME. FORMAL LIVING ROOM AND SEPARATE FAMILY ROOM WITH GAS FIREPLACE. KITCHEN WITH CUSTOM CHERRY WOOD CABINETS AND GRANITE COUNTER TOPS. SPACIOUS MASTER SUITE WITH CUSTOM CLOSET.MASTER BATH HAS DOUBLE SINKS, SEPARATE TUB AND SHOWER. PLANTATION SHUTTERS THROUGHOUT. 3 CAR GARAGE, COVERED PATIO AND INVITING POOL AND SPA PERFECT FOR THIS SUMMER'S HEAT WAVE. WATER HEATER IS BRAND NEW.

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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: Green Valley North

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $121k340k

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

Neighborhood: Green Valley North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10801825

* 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
David M. Cox Elementary School Primary Regular 625 32 8
Barbara And Hank Greenspun Middle School Middle Regular 1,397 55 NA
Silverado High School High Regular 2,263 94 5

David M. Cox Elementary School

  • Education Level: Primary
  • # of students: 625
  • # of teachers: 32
8
GreatSchools Rating

Barbara And Hank Greenspun Middle School

  • Education Level: Middle
  • # of students: 1,397
  • # of teachers: 55
NA
GreatSchools Rating

Silverado High School

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

$359,910$439,890$399,900

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,475
Property Tax -$216
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
-$198

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.

$399,900

PROJECTED PRICE

$1,680

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.25%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,475

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$14,767

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,656

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6803$1,6954$1,7005$1,750
$1,750
RENT COMPS ANALYSIS
  • 2672 Nye Street Henderson, NV 2
    • 4 beds 3 baths ∙ 2,096 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,096 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.80
    •  
  • 318 Lander Drive Henderson, NV 1
    • 4 beds 3 baths ∙ 2,096 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,096 Sqft ∙ Built 1990
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.74
    •  
  • 3139 Strawberry Park Drive Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 2004
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.74
    •  
  • 2673 Nye Street Henderson, NV 4
    • 4 beds 2 baths ∙ 2,096 Sqft ∙ Built 1992 4 beds 2 baths ∙ 2,096 Sqft ∙ Built 1992
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.81
    •  
  • 2664 Ridgewater Circle Henderson, NV 5
    • 3 beds 3 baths ∙ 2,021 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,021 Sqft ∙ Built 1995
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.87
    •  
PROPERTY LISTING DETAILS
Anne K Baxter
1.702.493.1310
B C Adobe Realty, Inc.
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223742
Last Updated: 08/21/2020
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