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2685 Hollowvale Lane Henderson, NV 89052

4 Beds 2 Baths 1,779 sqft Built 2000

INVESTimate

$350,000

List Price

$1,690

$1,521 - $1,859

Rent Est.

$381,360  ( +8.96%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $196.74
  • 7 Days on Market
  • MLS # : 2220503
  • Updated Date : 08/20/2020 at 14:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,779 sqft
  • Baths : 2 full
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Don't miss your opportunity to own this well cared for, 4 bedroom home in one of the best school zones in the Las Vegas valley. This move-in ready home with a large lot has plenty of room for a growing family and is centrally located in popular Henderson, NV near schools, restaurants, retail, and parks. It is minutes away from Whole Foods, Trader Joe's, Green Valley Ranch and the S Eastern retail corridor and with quick access to I-215 you can be anywhere in the valley including The Strip or McCarren Airport in minutes. Make sure to view the 3D tours for a complete look at this house.

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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
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,521$1,859$1,690

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,291
Property Tax -$200
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
$18

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.

$350,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.96%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$30,643

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,797

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6903$1,7004$1,7255$1,750
$1,750
RENT COMPS ANALYSIS
  • 2685 Hollowvale Lane Henderson, NV 2
    • 4 beds 2 baths ∙ 1,779 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,779 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.95
    •  
  • 675 Turtlewood Place #n/a Henderson, NV 1
    • 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 2000
    property image
    LEASED 08/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.98
    •  
  • 2602 Earthen Mesa Terrace Henderson, NV 3
    • 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 2002
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.04
    •  
  • 963 Cardelina Henderson, NV 4
    • 3 beds 2 baths ∙ 1,705 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,705 Sqft ∙ Built 2000
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.01
    •  
  • 684 Great Dane Court Henderson, NV 5
    • 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 2000
    property image
    LEASED 03/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.01
    •  
PROPERTY LISTING DETAILS
Doug Verhaalen
1.702.335.6995
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2220503
Last Updated: 08/20/2020
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