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311 West Sherwood Drive Henderson, NV 89015

3 Beds 1 Baths 2,066 sqft Built 1981

$525,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $254.11
  • 2 Days on Market
  • MLS # : 2276516
  • Updated Date : 03/06/2021 at 19:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,066 sqft
  • Baths : 1 full
Listing Agent

Rooftop Realty

Listing Agent's Description

Pictures coming soon! This custom home with unique architecture features a great combination of indoor and outdoor living on nearly 1/3 of an acre. Three bedrooms, 2.5 baths with travertine floors on first floor living areas and bath. The large kitchen has granite counters and a breakfast bar area. Remodeled primary bath features a large walk in shower and double sink. The primary bedroom opens up to a massive deck with a bar and partial strip views. Front yard has newer synthetic grass, desert landscaping and mature trees. Incredible pool and spa also has a pergola with an outdoor kitchen area and outdoor lighting. Stamped concrete driveway with plenty of room for RV parking. Quiet cul de sac and no HOA make this the perfect home!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Black Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $111k340k

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

Neighborhood: Black Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9451825

* 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
Ulis Newton Elementary School Primary Regular 611 35 7
Lyal Burkholder Middle School Middle Regular 747 34 NA
Foothill High School High Regular 2,883 109 7

Ulis Newton Elementary School

  • Education Level: Primary
  • # of students: 611
  • # of teachers: 35
7
GreatSchools Rating

Lyal Burkholder Middle School

  • Education Level: Middle
  • # of students: 747
  • # of teachers: 34
NA
GreatSchools Rating

Foothill High School

  • Education Level: High
  • # of students: 2,883
  • # of teachers: 109
7
GreatSchools Rating
 

$472,500$577,500$525,000

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 -$1,824
Property Tax -$196
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
-$486

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.

$525,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.2%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,824

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$4,235

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
  • $0.83

    LIST RENT PER SQFT
  • $1,761

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,599
1$1,5992$1,6003$1,7004$1,7205$1,750
$1,750
RENT COMPS ANALYSIS
  • 311 West Sherwood Drive Henderson, NV 4
    • 3 beds 1 baths ∙ 2,066 Sqft ∙ Built 1981 3 beds 1 baths ∙ 2,066 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.83
    •  
  • 372 Waterwheel Falls Drive Henderson, NV 1
    • 3 beds 3 baths ∙ 1,924 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,924 Sqft ∙ Built 1997
    property image
    LEASED 10/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.83
    •  
  • 423 Palegold Street Henderson, NV 2
    • 3 beds 3 baths ∙ 1,930 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,930 Sqft ∙ Built 1999
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.83
    •  
  • 188 White Butte Street Henderson, NV 3
    • 3 beds 3 baths ∙ 2,021 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,021 Sqft ∙ Built 2001
    property image
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.84
    •  
  • 486 Tiger Lily Henderson, NV 5
    • 3 beds 3 baths ∙ 1,926 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,926 Sqft ∙ Built 1991
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.91
    •  
PROPERTY LISTING DETAILS
Paul Rich
1.702.769.1495
Rooftop Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2276516
Last Updated: 03/06/2021
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