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3004 Hardin Drive Henderson, NV 89074

6 Beds 5 Baths 4,519 sqft Built 1988

$1,192,000

List Price

$3,440

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

February 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $263.78
  • 6 Days on Market
  • MLS # : 2266221
  • Updated Date : 02/03/2021 at 02:30
CONSTRUCTION
  • Beds : 6
  • Floor Size : 4,519 sqft
  • Baths : 3 full , 2 half
Listing Agent

Reiss Properties

Listing Agent's Description

Stunning home open floorplan 15’ vaulted ceiling on ½ acre in rural preservation of Serene Country Est. No HOA/CC&R's! Well & septic system. Near shopping, dining & 215 beltway with quick access to Strip & Raiders' Stadium. 6 bed plus walk-in closets containing 2 mstr bedrooms with en suites. Upstairs mstr bath boasts his/hers 5x14 shower w/mutable heads & step-up Jacuzzi tub. Kitchen has hardwood cabinets, granite countertops, KitchenAid 48” stove griddle, built-in dual KitchenAid fridge & KitchenAid d/w. 199K BTU tankless water heater, 5-stage filtration & citrus soften. Built-in bar granite counter tops. French doors in family room welcoming the outside in! Resort-like backyard feat pool, rock waterfall & slide, built-in BBQ, 650 sq ft casita & separate bath. Private ½ court bsktball court, lg play castle & RV hookup w/cleanout. Complete 1014 sq ft 3-car garage w/separate 3rd bay has 60a 240v service & mini split system. Home fully remodeled in 2014. Cameras & new smart panel/wiring

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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: Southfork

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k393k

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

Neighborhood: Southfork

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10802255

* 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
John Vanderburg Elementary School Primary Regular 929 45 10
Bob Miller Middle School Middle Regular 1,600 59 NA
Coronado High School High Regular 3,240 124 10

John Vanderburg Elementary School

  • Education Level: Primary
  • # of students: 929
  • # of teachers: 45
10
GreatSchools Rating

Bob Miller Middle School

  • Education Level: Middle
  • # of students: 1,600
  • # of teachers: 59
NA
GreatSchools Rating

Coronado High School

  • Education Level: High
  • # of students: 3,240
  • # of teachers: 124
10
GreatSchools Rating
 

$1,072,800$1,311,200$1,192,000

PURCHASE PRICE

$3,096$3,784$3,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,440
EXPENSES Loan Payment -$4,140
Property Tax -$599
Property Insurance -$115
Property Management Fees -$119
CASH FLOW
-$1,533

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.

$1,192,000

PROJECTED PRICE

$3,440

PROJECTED RENT

0.29%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.0%
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$3.0M$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$10k$0.0$10k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$321,630

INVESTMENT

$321,630

Down Payment
$298,000
Rehab Estimate
$5,750
Closing Costs
$17,880

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$4,140

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $298,000
Loan Amount $894,000
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$726

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,440

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $3,570

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,4403$3,6004$3,825
$3,825
RENT COMPS ANALYSIS
  • 3004 Hardin Drive Henderson, NV 2
    • 6 beds 5 baths ∙ 4,519 Sqft ∙ Built 1988 6 beds 5 baths ∙ 4,519 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $3,440
    • $0.76
    •  
  • 482 Beardsley #0 Henderson, NV 1
    • 5 beds 5 baths ∙ 4,298 Sqft ∙ Built 2000 5 beds 5 baths ∙ 4,298 Sqft ∙ Built 2000
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.70
    •  
  • 2421 Tour Edition Drive Henderson, NV 3
    • 5 beds 5 baths ∙ 4,636 Sqft ∙ Built 1996 5 beds 5 baths ∙ 4,636 Sqft ∙ Built 1996
    LEASED 11/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $0.78
    •  
  • 508 Calendula Court Henderson, NV 4
    • 6 beds 3 baths ∙ 4,277 Sqft ∙ Built 2002 6 beds 3 baths ∙ 4,277 Sqft ∙ Built 2002
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,825
    • $0.89
    •  
PROPERTY LISTING DETAILS
Sheri-lyn Paul
1.702.326.8581
Reiss Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2266221
Last Updated: 02/03/2021
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