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2931 Carmelo Drive Henderson, NV 89052

4 Beds 3 Baths 3,335 sqft Built 2000

$769,000

List Price

$2,790

$2.5K - $3K

Rent Est.

PROPERTY INFO

February 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $230.58
  • 7 Days on Market
  • MLS # : 2265780
  • Updated Date : 02/04/2021 at 23:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,335 sqft
  • Baths : 3 full
Listing Agent

Marshall Stearns Real Estate

Listing Agent's Description

Beautiful home with heated pool, waterfall, spa, built in BBQ, black out shutters, new synthetic grass and a 3 car garage in highly desirable Seven Hills Presidio Community! Living room has fireplace with stack stone all the way up to the ceiling. Two sided fireplace leads to family room, kitchen with granite, stainless steel and built in appliances. Real hardwood, marble and travertine tiles throughout. Bedroom and bathroom upstairs. Wrought iron stair case leads to upstairs loft/ den area. Mountain, city and golf course views from master balcony. Home is packed full of upgrades, it is a must see!

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: 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
 

$692,100$845,900$769,000

PURCHASE PRICE

$2,511$3,069$2,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,790
EXPENSES Loan Payment -$2,671
Property Tax -$487
Property Insurance -$92
Property Management Fees -$119
CASH FLOW
-$579

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.

$769,000

PROJECTED PRICE

$2,790

PROJECTED RENT

0.36%

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$209,535

INVESTMENT

$209,535

Down Payment
$192,250
Rehab Estimate
$5,750
Closing Costs
$11,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,671

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $192,250
Loan Amount $576,750
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$10,230

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,790

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,768

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,6503$2,7904$2,9005$3,500
$3,500
RENT COMPS ANALYSIS
  • 2931 Carmelo Drive Henderson, NV 3
    • 4 beds 3 baths ∙ 3,335 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,335 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,790
    • $0.84
    •  
  • 1276 Autumn Wind Way Las Vegas, NV 1
    • 4 beds 2 baths ∙ 3,443 Sqft ∙ Built 1997 4 beds 2 baths ∙ 3,443 Sqft ∙ Built 1997
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.73
    •  
  • 1424 Via Savona Drive Henderson, NV 2
    • 4 beds 3 baths ∙ 3,474 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,474 Sqft ∙ Built 2002
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.76
    •  
  • 2822 Poseidon Shore Avenue Henderson, NV 4
    • 3 beds 3 baths ∙ 3,517 Sqft ∙ Built 2016 3 beds 3 baths ∙ 3,517 Sqft ∙ Built 2016
    LEASED 09/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.82
    •  
  • 1452 Via Merano Street Henderson, NV 5
    • 4 beds 3 baths ∙ 3,474 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,474 Sqft ∙ Built 2002
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.01
    •  
PROPERTY LISTING DETAILS
Shelby Neidert
1.702.353.3041
Marshall Stearns Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2265780
Last Updated: 02/04/2021
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