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2746 Summerchase Lane Henderson, NV 89052

3 Beds 2 Baths 1,728 sqft Built 2001

$425,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $245.95
  • 7 Days on Market
  • MLS # : 2272002
  • Updated Date : 02/26/2021 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,728 sqft
  • Baths : 2 full
Listing Agent

Wardley Real Estate

Listing Agent's Description

Beautiful 1 story home featuring 1728 sq ft, 3 bed, 2 bath and 3 car garage. Open floor plan. Gorgeous kitchen with WI pantry, granite counters, tile backsplash, sink, faucet, garbage dis, & hot water dispenser. Spacious living and family rooms. Massive primary bedroom with en suite bath and french doors leading to bonus sun room with spa. Master has a walk in closet and a bonus closet. White cabinetry throughout. Beautiful updates including desert landscaping, fresh paint, laminate wood flooring, french doors to the patio. Even a wonderful sitting area in front of the home. Quiet court location in the heart of new Henderson.

SEE MORE

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: 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
 

$382,500$467,500$425,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,476
Property Tax -$227
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
-$83

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.

$425,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.42%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M

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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$21,671

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,819

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7753$1,7954$1,8005$1,800
$1,800
RENT COMPS ANALYSIS
  • 2746 Summerchase Lane Henderson, NV 5
    • 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.04
    •  
  • 684 Great Dane Court Henderson, NV 1
    • 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 2000
    LEASED 03/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.01
    •  
  • 2744 Fresh Pond Court Henderson, NV 2
    • 3 beds 1 baths ∙ 1,728 Sqft ∙ Built 1997 3 beds 1 baths ∙ 1,728 Sqft ∙ Built 1997
    LEASED 12/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.03
    •  
  • 697 Turtlewood Place Henderson, NV 3
    • 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 2000
    LEASED 09/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.13
    •  
  • 2680 Korea Court #0 Henderson, NV 4
    • 4 beds 2 baths ∙ 1,728 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,728 Sqft ∙ Built 2000
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.04
    •  
PROPERTY LISTING DETAILS
Stanley J King
1.702.408.6220
Wardley Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2272002
Last Updated: 02/26/2021
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