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2848 Radiant Flame Avenue Henderson, NV 89052

3 Beds 3 Baths 1,900 sqft Built 2006

$355,000

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $186.84
  • 6 Days on Market
  • MLS # : 2257337
  • Updated Date : 12/25/2020 at 11:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,900 sqft
  • Baths : 3 full
Listing Agent

Simply Vegas

Listing Agent's Description

SEE THE 3D VIRTUAL TOUR! SEVEN HILLS HOME FOR SALE! Don't Miss this Gem of a home in the Exclusive Gated Community LAMPLIGHT SQUARE AT SEVEN HILLS. Showings begin 12-26-2020 by appointment only. Open floor plan downstairs, 2 story, 3 bedrooms, 3 bathrooms, 1900 square feet, Loftlike / Family Room on 2nd Floor, There is bedroom / bathroom on downstairs floor. More info to follow soon. Contact a REALTOR for access. Do not disturb occupants, showings start the day after Xmas. More info to follow soon stay tuned!

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: Seven Hills

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k479k

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

Neighborhood: Seven Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10802338

* 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
Elise L. Wolff Elementary School Primary Regular 935 46 10
Del E Webb Middle School Middle Regular 1,863 74 NA
Coronado High School High Regular 3,240 124 10

Elise L. Wolff Elementary School

  • Education Level: Primary
  • # of students: 935
  • # of teachers: 46
10
GreatSchools Rating

Del E Webb Middle School

  • Education Level: Middle
  • # of students: 1,863
  • # of teachers: 74
NA
GreatSchools Rating

Coronado High School

  • Education Level: High
  • # of students: 3,240
  • # of teachers: 124
10
GreatSchools Rating
 

$319,500$390,500$355,000

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,310
Property Tax -$228
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
$159

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.

$355,000

PROJECTED PRICE

$1,880

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 6.8%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,825

INVESTMENT

$99,825

Down Payment
$88,750
Rehab Estimate
$5,750
Closing Costs
$5,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,310

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $88,750
Loan Amount $266,250
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$46,422

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,929

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7253$1,8804$2,0955$2,150
$2,150
RENT COMPS ANALYSIS
  • 2848 Radiant Flame Avenue Henderson, NV 3
    • 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.99
    •  
  • 2724 Kona Crest Avenue Henderson, NV 1
    • 3 beds 3 baths ∙ 1,758 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,758 Sqft ∙ Built 2007
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.96
    •  
  • 963 Cardelina Henderson, NV 2
    • 3 beds 2 baths ∙ 1,705 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,705 Sqft ∙ Built 2000
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.01
    •  
  • 2986 Scenic Valley Way Henderson, NV 4
    • 4 beds 3 baths ∙ 2,032 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,032 Sqft ∙ Built 2000
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.03
    •  
  • 3010 Scenic Valley Way Henderson, NV 5
    • 4 beds 3 baths ∙ 2,032 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,032 Sqft ∙ Built 1999
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.06
    •  
PROPERTY LISTING DETAILS
Steven M Brandon
1.702.801.8055
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2257337
Last Updated: 12/25/2020
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