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2895 Carmelo Drive Henderson, NV 89052

5 Beds 5 Baths 4,045 sqft Built 2000

$750,000

List Price

$3,300

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $185.41
  • 2 Days on Market
  • MLS # : 2257592
  • Updated Date : 12/26/2020 at 09:57
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,045 sqft
  • Baths : 4 full , 1 half
Listing Agent

Signature Real Estate Group

Listing Agent's Description

*RARE OPPORTUNITY to create EQUITY*- Priced aggressively at $185sqft for a guard gated home in the exclusive Seven Hills master planned community. Seven Hills is known for its outdoor lifestyle & remarkable views. The parks offer basketball/tennis courts, soccer fields & playgrounds, in addition to miles of walking & biking trails. This home has recently had over $80,000 in upgrades & improvements. Interior freshly painted w/modern color palette. Home includes office nook, kitchen w/double ovens, new microwave & granite countertops. Loft was recently added & includes surround sound & wiring for a projector. Spacious owner’s suite w/custom walk-in closet. Primary bathroom tub & shower have been updated w/new tile & fixtures. 3 additional oversized bedrooms upstairs. Additional master bed upstairs & downstairs. Secluded picturesque landscaped backyard. Garage features technology to run on phone. Don't miss the chance...come see the lifestyle this home & Seven Hills has to offer.

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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: 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
 

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

PURCHASE PRICE

$2,970$3,630$3,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,300
EXPENSES Loan Payment -$2,767
Property Tax -$465
Property Insurance -$105
Property Management Fees -$119
CASH FLOW
-$156

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

$3,300

PROJECTED RENT

0.44%

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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530$0.0$10k$20k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

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 50% 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

5

YEARS SAVED

$45,312

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,300

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $3,580

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$3,295
1$3,2952$3,3003$3,5004$3,7005$3,850
$3,850
RENT COMPS ANALYSIS
  • 2895 Carmelo Drive Henderson, NV 2
    • 5 beds 5 baths ∙ 4,045 Sqft ∙ Built 2000 5 beds 5 baths ∙ 4,045 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.82
    •  
  • 1551 Via Della Scala #0 Henderson, NV 1
    • 5 beds 3 baths ∙ 4,043 Sqft ∙ Built 2003 5 beds 3 baths ∙ 4,043 Sqft ∙ Built 2003
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $0.81
    •  
  • 1464 European Drive Henderson, NV 3
    • 5 beds 4 baths ∙ 3,903 Sqft ∙ Built 2003 5 beds 4 baths ∙ 3,903 Sqft ∙ Built 2003
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.90
    •  
  • 1208 Martini Drive Henderson, NV 4
    • 4 beds 5 baths ∙ 4,203 Sqft ∙ Built 2002 4 beds 5 baths ∙ 4,203 Sqft ∙ Built 2002
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $0.88
    •  
  • 2940 Carmelo Drive #0 Henderson, NV 5
    • 5 beds 5 baths ∙ 4,045 Sqft ∙ Built 2000 5 beds 5 baths ∙ 4,045 Sqft ∙ Built 2000
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $0.95
    •  
PROPERTY LISTING DETAILS
Leslie E Stewart
1.702.526.3404
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2257592
Last Updated: 12/26/2020
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