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281 Viewmont Drive Henderson, NV 89015

3 Beds 2 Baths 1,932 sqft Built 1996

$450,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $232.92
  • 3 Days on Market
  • MLS # : 2265225
  • Updated Date : 01/30/2021 at 01:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,932 sqft
  • Baths : 2 full
Listing Agent

Re/max Advantage

Listing Agent's Description

LOVELY CUSTOM Single Story HOME, Over a 1/3 acre lot with RV parking, with no HOA or SID/LID. Over-sized 3 car attached garage. Large Solar Heated Pool with New solar panels. Very nice pool deck. Room for all your toys, boats, and cars. Great strip and city views from the back yard. Heater and AC only 5 years old. Extended Porch Covering with Misters. Custom Retaining Wall Engineered with Permits. Entertainers Delight. A must see, a rare find. A Beautiful home inside and out. Your Client will be happy you showed them this home.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Black Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $111k340k

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

Neighborhood: Black Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9451825

* 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
Ulis Newton Elementary School Primary Regular 611 35 7
Lyal Burkholder Middle School Middle Regular 747 34 NA
Foothill High School High Regular 2,883 109 7

Ulis Newton Elementary School

  • Education Level: Primary
  • # of students: 611
  • # of teachers: 35
7
GreatSchools Rating

Lyal Burkholder Middle School

  • Education Level: Middle
  • # of students: 747
  • # of teachers: 34
NA
GreatSchools Rating

Foothill High School

  • Education Level: High
  • # of students: 2,883
  • # of teachers: 109
7
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,563
Property Tax -$280
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
-$256

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.

$450,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.2%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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$1.6M

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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$10,146

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,782

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,699
1$1,6992$1,7003$1,7504$1,7705$1,800
$1,800
RENT COMPS ANALYSIS
  • 281 Viewmont Drive Henderson, NV 4
    • 3 beds 3 baths ∙ 1,932 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,932 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.92
    •  
  • 639 Ember Rock Henderson, NV 1
    • 4 beds 2 baths ∙ 1,804 Sqft ∙ Built 2008 4 beds 2 baths ∙ 1,804 Sqft ∙ Built 2008
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.94
    •  
  • 686 Ember Rock Avenue Henderson, NV 2
    • 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 2007
    property image
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.89
    •  
  • 486 Tiger Lily Henderson, NV 3
    • 3 beds 3 baths ∙ 1,926 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,926 Sqft ∙ Built 1991
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.91
    •  
  • 264 Quail Ranch Drive Henderson, NV 5
    • 3 beds 3 baths ∙ 1,899 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,899 Sqft ∙ Built 2008
    property image
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.95
    •  
PROPERTY LISTING DETAILS
Carl G Johnson
1.702.285.3399
Re/max Advantage
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2265225
Last Updated: 01/30/2021
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