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281 Manzanita Ranch Lane Henderson, NV 89012

3 Beds 3 Baths 1,620 sqft Built 1996

$383,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $236.42
  • 5 Days on Market
  • MLS # : 2267974
  • Updated Date : 02/07/2021 at 02:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,620 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homie Llc

Listing Agent's Description

Located in The Green Valley Ranch Area with Parks, Highly Rated Schools, Recreation & The District! Brand New HVAC System (Aug 2020)! 18×18 Tile On The Entire First Floor. Lots of Great Built-Ins. Large Backyard with Covered Patio. Kitchen Has Granite Counters, Backsplash, and Lots of Cabinets. Stainless Appliances. The Family Room is Next to the Kitchen & Has a Fireplace! Must-See Home!

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: Green Valley Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k396k

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

Neighborhood: Green Valley Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10802045

* 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
John Vanderburg Elementary School Primary Regular 929 45 10
Bob Miller Middle School Middle Regular 1,600 59 NA
Coronado High School High Regular 3,240 124 10

John Vanderburg Elementary School

  • Education Level: Primary
  • # of students: 929
  • # of teachers: 45
10
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
 

$344,700$421,300$383,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,330
Property Tax -$179
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
$23

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.

$383,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.1%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,245

INVESTMENT

$107,245

Down Payment
$95,750
Rehab Estimate
$5,750
Closing Costs
$5,745

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,330

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $95,750
Loan Amount $287,250
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$28,435

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,697

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,710
1$1,7102$1,8503$1,8504$1,9255$1,995
$1,995
RENT COMPS ANALYSIS
  • 281 Manzanita Ranch Lane Henderson, NV 1
    • 4 beds 5 baths ∙ 1,620 Sqft ∙ Built 1996 4 beds 5 baths ∙ 1,620 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $1.06
    •  
  • 20 Spur Cross Circle Henderson, NV 2
    • 3 beds 3 baths ∙ 1,801 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,801 Sqft ∙ Built 1996
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.03
    •  
  • 1846 Poetic Valley Circle Henderson, NV 3
    • 4 beds 4 baths ∙ 1,781 Sqft ∙ Built 1997 4 beds 4 baths ∙ 1,781 Sqft ∙ Built 1997
    LEASED 12/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.04
    •  
  • 2262 Chestnut Bluffs Avenue Henderson, NV 4
    • 3 beds 3 baths ∙ 1,769 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,769 Sqft ∙ Built 1999
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $1.09
    •  
  • 2418 Esteem Ridge Drive Henderson, NV 5
    • 3 beds 3 baths ∙ 1,941 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,941 Sqft ∙ Built 2005
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.03
    •  
PROPERTY LISTING DETAILS
Karen Gradington
1.702.301.9130
Homie Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2267974
Last Updated: 02/07/2021
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