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3188 La Mancha Way Henderson, NV 89014

3 Beds 2 Baths 1,685 sqft Built 1986

INVESTimate

$245,000

List Price

$1,470

$1,323 - $1,617

Rent Est.

$267,663  ( +9.25%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $145.40
  • 6 Days on Market
  • MLS # : 2223827
  • Updated Date : 08/22/2020 at 05:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,685 sqft
  • Baths : 2 full
Listing Agent

Power Play Realty

Listing Agent's Description

Green Valley beauty! This well-cared for and comfortable one-story townhouse boasts a cozy living room fireplace, window coverings throughout. Oversized 3rd bedroom makes a great den. Skylight in hall bath provides natural light during day. Master bath has separate tub and shower and two individual sink/vanity areas. Lovely courtyard and back patio. Custom flooring. All appliances included. Lots of storage in garage and ample guest parking. Tennis courts, a community pool and clubhouse round out the fabulous features of this beautiful community. HOA fee includes water, sewer, trash, landscaping, roof maintenance and CCRs.

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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: Green Valley North

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $121k340k

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

Neighborhood: Green Valley North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10801825

* 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
Nate Mack Elementary School Primary Regular 613 37 9
Barbara And Hank Greenspun Middle School Middle Regular 1,397 55 NA
Green Valley High School High Regular 3,092 122 9

Nate Mack Elementary School

  • Education Level: Primary
  • # of students: 613
  • # of teachers: 37
9
GreatSchools Rating

Barbara And Hank Greenspun Middle School

  • Education Level: Middle
  • # of students: 1,397
  • # of teachers: 55
NA
GreatSchools Rating

Green Valley High School

  • Education Level: High
  • # of students: 3,092
  • # of teachers: 122
9
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$904
Property Tax -$142
Property Insurance -$60
HOA -$420
Property Management Fees -$119
CASH FLOW
-$175

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.

$245,000

PROJECTED PRICE

$1,470

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.25%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$2,823

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,588

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,470
1$1,4702$1,4953$1,5004$1,5005$1,550
$1,550
RENT COMPS ANALYSIS
  • 3188 La Mancha Way Henderson, NV 1
    • 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.87
    •  
  • 2050 Warm Springs Road #4024 Henderson, NV 2
    • 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 1996
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.97
    •  
  • 2090 Club Crest Way Henderson, NV 3
    • 3 beds 3 baths ∙ 1,513 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,513 Sqft ∙ Built 1989
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.99
    •  
  • 3240 La Mancha Way Henderson, NV 4
    • 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1986
    property image
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.89
    •  
  • 3204 La Mancha Way Henderson, NV 5
    • 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1986
    property image
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.92
    •  
PROPERTY LISTING DETAILS
Alison Rachiell
1.702.521.5650
Power Play Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223827
Last Updated: 08/22/2020
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