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297 Cadence View Way Henderson, NV 89011

3 Beds 3 Baths 2,066 sqft Built 2018

INVESTimate

$369,999

List Price

$1,750

$1,575 - $1,925

Rent Est.

$407,776  ( +10.21%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2018
  • Price/Sqft : $179.09
  • 9 Days on Market
  • MLS # : 2222828
  • Updated Date : 08/21/2020 at 20:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,066 sqft
  • Baths : 2 full , 1 half
Listing Agent

Tr Realty

Listing Agent's Description

Beautiful split level home featuring a gourmet kitchen, stainless steel appliances, a 10' extended Quartz kitchen island, that is complimented by espresso cabinetry throughout the home. A spacious ground level bonus room leads to the backyard, which sits on a large corner lot. Conveniently located near shopping, schools, and easy access to the 95 freeway. Additionally, this home is located in the Cadence Community which offers many amenities. This home and community are a MUST SEE.

SEE MORE

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: Cadence

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k600k

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

Neighborhood: Cadence

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10801929

* 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
C.t. Sewell Elementary School Primary Regular 833 41 8
B. Mahlon Brown Junior High School Middle Regular 978 46 NA
Basic High School High Regular 2,367 100 3

C.t. Sewell Elementary School

  • Education Level: Primary
  • # of students: 833
  • # of teachers: 41
8
GreatSchools Rating

B. Mahlon Brown Junior High School

  • Education Level: Middle
  • # of students: 978
  • # of teachers: 46
NA
GreatSchools Rating

Basic High School

  • Education Level: High
  • # of students: 2,367
  • # of teachers: 100
3
GreatSchools Rating
 

$332,999$406,999$369,999

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,365
Property Tax -$275
Property Insurance -$67
HOA -$40
Property Management Fees -$119
CASH FLOW
-$116

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.

$369,999

PROJECTED PRICE

$1,750

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.21%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,800

INVESTMENT

$103,800

Down Payment
$92,500
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,365

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,500
Loan Amount $277,499
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$18,217

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,880

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7503$1,8154$1,9505$1,995
$1,995
RENT COMPS ANALYSIS
  • 297 Cadence View Way Henderson, NV 2
    • 3 beds 3 baths ∙ 2,066 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,066 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.85
    •  
  • 268 Persistence Court Henderson, NV 1
    • 3 beds 3 baths ∙ 2,066 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,066 Sqft ∙ Built 2016
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.85
    •  
  • 346 Gracious Way Henderson, NV 3
    • 3 beds 2 baths ∙ 2,062 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,062 Sqft ∙ Built 2017
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,815
    • $0.88
    •  
  • 384 Ambitious Henderson, NV 4
    • 3 beds 3 baths ∙ 2,066 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,066 Sqft ∙ Built 2017
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.94
    •  
  • 393 Ambitious Street Henderson, NV 5
    • 3 beds 3 baths ∙ 2,066 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,066 Sqft ∙ Built 2016
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.97
    •  
PROPERTY LISTING DETAILS
Clarissa Pereira
1.702.612.3685
Tr Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222828
Last Updated: 08/21/2020
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