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2816 Josephine Drive Henderson, NV 89044

4 Beds 3 Baths 3,988 sqft Built 2015

INVESTimate

$750,000

List Price

$3,370

$3,120 - $3,620

Rent Est.

$788,325  ( +5.11%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $188.06
  • 8 Days on Market
  • MLS # : 2222587
  • Updated Date : 08/21/2020 at 11:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,988 sqft
  • Baths : 3 full
Listing Agent

Crown Point Realty, Llc

Listing Agent's Description

Stunning Club Madeira Home! Incredible Attention to Detail! Welcomed by a Huge Pavered Courtyard and a Stone Inlaid Entry Leading You To The Interior Of The Home! Must See STUNNING Kitchen w/ Quartz Counters, Pendant Lighting, Upgrades Stainless Appliances, Backsplash, Cabinets Built into the Island and More! Additional Interior Features include Downstairs Bedroom & Den, Shutters Throughout, Upgraded Flooring and Fixtures Throughout, Wrought Iron Railing Leads, Full Built Out Office Upstairs, Large Loft and a Beautifully Upgraded Owner's Bathroom (Rain Head Shower!) The Gorgeous Backyard Is Complete With A Basketball Hoop, A Huge Covered Patio, And Built In BBQ, Sink, Keg, And Bar Top That All Have Custom Lights That Can Be Changed To Your Color Of Choice! Not To Mention The Beautiful Synthetic Grass, Mature Trees, Built In Fireplace, And Another Built In Fire Table!! The Home Backs up to Community Green Space for that Extra Elbow Room Behind! You Won't Want To Miss Out On This Home!

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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
 

$675,000$825,000$750,000

PURCHASE PRICE

$3,033$3,707$3,370

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,370
EXPENSES Loan Payment -$2,767
Property Tax -$599
Property Insurance -$104
HOA -$245
Property Management Fees -$119
CASH FLOW
-$465

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.

$750,000

PROJECTED PRICE

$3,370

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 5.11%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$204,500

INVESTMENT

$204,500

Down Payment
$187,500
Rehab Estimate
$5,750
Closing Costs
$11,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,767

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $187,500
Loan Amount $562,500
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$16,690

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,370

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $3,729

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$3,370
1$3,3702$3,3953$3,5904$3,8005$3,995
$3,995
RENT COMPS ANALYSIS
  • 2816 Josephine Drive Henderson, NV 1
    • 4 beds 3 baths ∙ 3,988 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,988 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $3,370
    • $0.85
    •  
  • 2457 Luberon Drive Henderson, NV 2
    • 4 beds 4 baths ∙ 4,050 Sqft ∙ Built 2011 4 beds 4 baths ∙ 4,050 Sqft ∙ Built 2011
    LEASED 10/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,395
    • $0.84
    •  
  • 2912 Josephine Drive Henderson, NV 3
    • 4 beds 4 baths ∙ 3,891 Sqft ∙ Built 2013 4 beds 4 baths ∙ 3,891 Sqft ∙ Built 2013
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,590
    • $0.92
    •  
  • 2521 Chateau Napoleon Drive Henderson, NV 4
    • 4 beds 4 baths ∙ 3,948 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,948 Sqft ∙ Built 2014
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $0.96
    •  
  • 2852 Josephine Drive Henderson, NV 5
    • 4 beds 4 baths ∙ 3,910 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,910 Sqft ∙ Built 2014
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $1.02
    •  
PROPERTY LISTING DETAILS
Matt Farnham
1.702.530.7289
Crown Point Realty, Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222587
Last Updated: 08/21/2020
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