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2924 Aragon Terrace Way Henderson, NV 89044

3 Beds 3 Baths 1,701 sqft Built 2018

$409,900

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $240.98
  • 3 Days on Market
  • MLS # : 2262001
  • Updated Date : 01/17/2021 at 00:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,701 sqft
  • Baths : 2 full , 1 half
Listing Agent

Crown Point Realty, Llc

Listing Agent's Description

Ideal for investors! Tenant occupied with current rent of $2,200 a month. Great investment opportunity with +/- 6.5% gross rental income return. Amazing single story new build in Inspirada, a highly-desired community! This recently new, gorgeous home has all stainless steel appliances, wood laminate flooring and recessed lighting. The primary bedroom has a walk-in closet and separate laundry room with cabinets. easy care landscape. Pavers covered patio, fully landscaped rear yard with artificial turf. Open behind home and current mountain views in the backyard. Close to community parks, pools & splash pads.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

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
Robert And Sandy Ellis Elementary School Primary Unknown NA
Del E Webb Middle School Middle Regular 1,863 74 NA
Liberty High School High Regular 2,496 105 5

Robert And Sandy Ellis Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
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
 

$368,910$450,890$409,900

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,424
Property Tax -$280
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
-$162

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.

$409,900

PROJECTED PRICE

$1,720

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 5.1%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,374

INVESTMENT

$114,374

Down Payment
$102,475
Rehab Estimate
$5,750
Closing Costs
$6,149

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,424

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $102,475
Loan Amount $307,425
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$14,155

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,701

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7203$1,7954$1,8505$1,850
$1,850
RENT COMPS ANALYSIS
  • 2924 Aragon Terrace Way Henderson, NV 2
    • 3 beds 3 baths ∙ 1,701 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,701 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $1.01
    •  
  • 2862 Via Firenze Henderson, NV 1
    • 3 beds 3 baths ∙ 1,598 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,598 Sqft ∙ Built 2018
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
  • 2865 Tanager Hill Street Henderson, NV 3
    • 3 beds 3 baths ∙ 1,842 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,842 Sqft ∙ Built 2018
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.97
    •  
  • 2887 Starling Summit Street Henderson, NV 4
    • 3 beds 3 baths ∙ 1,842 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,842 Sqft ∙ Built 2018
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.00
    •  
  • 2877 Tanager Hill Street Henderson, NV 5
    • 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 2018
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.00
    •  
PROPERTY LISTING DETAILS
Gidget Graham
1.702.930.9551
Crown Point Realty, Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2262001
Last Updated: 01/17/2021
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