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2993 Panorama Ridge Drive Henderson, NV 89052

3 Beds 2 Baths 2,019 sqft Built 2000

$439,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $217.43
  • 5 Days on Market
  • MLS # : 2243678
  • Updated Date : 11/05/2020 at 14:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,019 sqft
  • Baths : 2 full
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

AMAZING SEVEN HILLS SINGLE STORY, IN MONTE NERO NEIGHBORHOOD, LOOKING OVER THE PARK!!! FORMAL LIVING ROOM/DINING ROOM, FAMILY ROOM, AND EAT-IN KITCHEN, 3 BEDROOMS + DEN/OFFICE. KITCHEN FEATURES GRANITE COUNTERS AND STAINLESS-STEEL APPLIANCES. VIEWS OF PARK FROM MASTER BEDROOM, MASTER BATHROOM HAS DOUBLE SINK, SEPARATE TUB AND SHOWER. CHECK OUT THE SCHOOLS FOR THIS LOCATION!

SEE MORE

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
 

$395,100$482,900$439,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,620
Property Tax -$245
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
-$180

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.

$439,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.43%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,085

INVESTMENT

$122,085

Down Payment
$109,750
Rehab Estimate
$5,750
Closing Costs
$6,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,620

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $109,750
Loan Amount $329,250
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$19,505

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,090

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,870
1$1,8702$2,0003$2,0954$2,1505$2,200
$2,200
RENT COMPS ANALYSIS
  • 2993 Panorama Ridge Drive Henderson, NV 1
    • 3 beds 2 baths ∙ 2,019 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,019 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.93
    •  
  • 3080 Paseo Mountain Avenue Henderson, NV 2
    • 3 beds 2 baths ∙ 1,964 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,964 Sqft ∙ Built 1997
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.02
    •  
  • 2986 Scenic Valley Way Henderson, NV 3
    • 4 beds 3 baths ∙ 2,032 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,032 Sqft ∙ Built 2000
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.03
    •  
  • 3010 Scenic Valley Way Henderson, NV 4
    • 4 beds 3 baths ∙ 2,032 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,032 Sqft ∙ Built 1999
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.06
    •  
  • 3040 Paseo Mountain Avenue Henderson, NV 5
    • 3 beds 3 baths ∙ 2,128 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,128 Sqft ∙ Built 2001
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.03
    •  
PROPERTY LISTING DETAILS
Jordon Metz
1.702.551.3700
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243678
Last Updated: 11/05/2020
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