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2835 Belmont Drive Henderson, NV 89074

3 Beds 2 Baths 1,612 sqft Built 1992

$499,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $309.55
  • 7 Days on Market
  • MLS # : 2251316
  • Updated Date : 12/01/2020 at 21:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,612 sqft
  • Baths : 2 full
Listing Agent

Property Management Of Lv, Llc

Listing Agent's Description

LOCATION LOCATION! NO HOA!! TOUGH TO FIND A BLANK CANVAS WITH A GORGEOUS ONE STORY HOME, HUGE LOT, STRIP AND MOUNTAIN VIEWS, WITH ENDLESS POSSIBILITIES TO MAKE THIS YOUR DREAM ESTATE UNDER 500K!! PLUS SELLER TO CREDIT BUYER $18K FOR A SURROUND BLOCK WALL FOR YOUR NEW ESTATE! PERMITS ALREADY SUBMITTED! 3 BEDS, 2 FULL BATHS, 3 OVERSIZED GARAGES, LARGE RV PARKING, COMPLETELY REMODELED INSIDE AND OUTSIDE, OPPORTUNITY IS KNOCKING, DON'T MISS THIS! MATTERPORT VIRTUAL TOUR AVAILABLE!

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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: 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
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
 

$449,100$548,900$499,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,841
Property Tax -$268
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
-$737

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.

$499,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.31%

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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k

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$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,841

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$208

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,560

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5003$1,5504$1,5955$1,600
$1,600
RENT COMPS ANALYSIS
  • 2835 Belmont Drive Henderson, NV 3
    • 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.96
    •  
  • 2494 Via Di Autostrada Henderson, NV 1
    • 3 beds 3 baths ∙ 1,493 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,493 Sqft ∙ Built 1995
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.94
    •  
  • 509 Recognition Place Henderson, NV 2
    • 3 beds 3 baths ∙ 1,594 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,594 Sqft ∙ Built 2000
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.94
    •  
  • 9037 Trumpet Court Henderson, NV 4
    • 3 beds 3 baths ∙ 1,531 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,531 Sqft ∙ Built 1993
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.04
    •  
  • 25 Jensen Drive Henderson, NV 5
    • 3 beds 3 baths ∙ 1,688 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,688 Sqft ∙ Built 1988
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.95
    •  
PROPERTY LISTING DETAILS
Loretta B Antuna
1.702.250.4190
Property Management Of Lv, Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2251316
Last Updated: 12/01/2020
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