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2849 Skowhegan Drive Henderson, NV 89074

3 Beds 2 Baths 1,836 sqft Built 1996

$432,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1996
  • Price/Sqft : $235.29
  • 27 Days on Market
  • MLS # : 2237888
  • Updated Date : 10/29/2020 at 09:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,836 sqft
  • Baths : 2 full
Listing Agent

Resolution Realty

Listing Agent's Description

*BEAUTIFUL SINGLE STORY LOCATED IN LOVELY SOUTHFORK COMMUNITY*THIS 3-BEDROOM 3-CAR HOME COMES w/ A SPARKLING INGROUND PEBBLE TECH POOL w/ WATERFALL & HAS LOTS OF NEW BOTH INSIDE & OUT INCLUDING PLUSH NEW MOHAWK CARPET BDRMS/LVNG RM, NEW WATER SOFTENER/RESURFACED POOL DECK & FRESH EXTERIOR PAINT*ENERGY SAVING SOLAR SCREENS*OUTDOOR SHEDS & GARAGE CABINETS PROVIDE PLENTY OF STORAGE*FRML LVNG RM & DINING ROOM UPON ENTRY INTO THE HOME*FAMILY RM IS SEPARATE & BOASTS A COZY FIREPLACE UPGRADED w/STACK STONE & IS OPEN TO THE KITCHEN* BEAUTIFUL GRANITE CNTRS/ISLAND & TILE FLOORS & ALL APPLIANCES STAY*STUNNING TRAVERTINE SHOWERS/BATHS FEATURED IN BOTH FULL BATHROOMS*GRANITE COUNTER IN GUEST BATHROOM & MARBLE COUNTER-TOP IN MASTER BATHROOM*MASTER BEDROOM IS SPACIOUS AND FEATURES ACCESS TO OUTSIDE OASIS WHERE YOU CAN COOL OFF IN YOUR OWN POOL! WONDERFUL OUTDOOR SPACE READY TO ENTERTAIN YOU! PERGOLA STAYS BUT FIREPIT DOES NOT*SECURITY CAMERAS, RING DOORBELL & SMART THERMOSTAT DO NOT CONVEY*

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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: 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
Glen C. Taylor Elementary School Primary Regular 961 46 9
Bob Miller Middle School Middle Regular 1,600 59 NA
Coronado High School High Regular 3,240 124 10

Glen C. Taylor Elementary School

  • Education Level: Primary
  • # of students: 961
  • # of teachers: 46
9
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
 

$388,800$475,200$432,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,594
Property Tax -$261
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
-$236

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.

$432,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.42%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$120,230

INVESTMENT

$120,230

Down Payment
$108,000
Rehab Estimate
$5,750
Closing Costs
$6,480

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,594

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $108,000
Loan Amount $324,000
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$14,572

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,584

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,499
1$1,4992$1,5253$1,5504$1,6755$1,800
$1,800
RENT COMPS ANALYSIS
  • 2849 Skowhegan Drive Henderson, NV 5
    • 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.98
    •  
  • 502 Satin Saddle Henderson, NV 1
    • 3 beds 3 baths ∙ 1,774 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,774 Sqft ∙ Built 2000
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.84
    •  
  • 507 Escoto Place Henderson, NV 2
    • 3 beds 3 baths ∙ 1,774 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,774 Sqft ∙ Built 1999
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.86
    •  
  • 503 Armenian Place Henderson, NV 3
    • 3 beds 3 baths ∙ 1,774 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,774 Sqft ∙ Built 1998
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.87
    •  
  • 516 Red Shale Court Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,907 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,907 Sqft ∙ Built 2002
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.88
    •  
PROPERTY LISTING DETAILS
Ehren Alessi
1.702.800.5054
Resolution Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2237888
Last Updated: 10/29/2020
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