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2673 Rue Montpellier Avenue Henderson, NV 89044

3 Beds 2 Baths 1,754 sqft Built 2007

$375,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $213.80
  • 5 Days on Market
  • MLS # : 2243460
  • Updated Date : 11/02/2020 at 08:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,754 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

Gorgeous & Pristine single story 3 Bedroom home w/ Front Courtyard in Madeira Canyon!!! Kitchen offers Maple Cabinets with Granite Countertops & SS Appliances. Diagonal Tiled floors in main parts of the home. Elevated backyard with Putting Green, covered patio & low maintenance Desert Landscape. Finished epoxy garage floor. All appliances stay & Truly move in ready. Close to schools, parks walking trails and Sloan. THIS ONE WILL NOT LAST!!!!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Sun City Anthem

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k397k

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

Neighborhood: Sun City Anthem

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10802028

* 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
Shirley And Bill Wallin Elementary School Primary Regular 1,067 51 10
Del E Webb Middle School Middle Regular 1,863 74 NA
Liberty High School High Regular 2,496 105 5

Shirley And Bill Wallin Elementary School

  • Education Level: Primary
  • # of students: 1,067
  • # of teachers: 51
10
GreatSchools Rating

Del E Webb Middle School

  • Education Level: Middle
  • # of students: 1,863
  • # of teachers: 74
NA
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,496
  • # of teachers: 105
5
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$1,384
Property Tax -$241
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
-$312

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.

$375,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 5.1%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$6,035

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,594

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,490
1$1,4902$1,5953$1,6454$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 2673 Rue Montpellier Avenue Henderson, NV 1
    • 3 beds 2 baths ∙ 1,652 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,652 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.90
    •  
  • 2409 Rue Royale Street Henderson, NV 2
    • 3 beds 3 baths ∙ 1,628 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,628 Sqft ∙ Built 2009
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.98
    •  
  • 2705 Rimbaud Henderson, NV 3
    • 3 beds 3 baths ∙ 1,666 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,666 Sqft ∙ Built 2006
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.99
    •  
  • 2689 Rue Toulouse Avenue Henderson, NV 4
    • 3 beds 2 baths ∙ 1,754 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,754 Sqft ∙ Built 2006
    LEASED 08/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.94
    •  
  • 2545 Rue Royale Street Henderson, NV 5
    • 3 beds 2 baths ∙ 1,730 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,730 Sqft ∙ Built 2006
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.95
    •  
PROPERTY LISTING DETAILS
Rick Thompson
1.702.755.6032
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243460
Last Updated: 11/02/2020
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