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3196 Castle Canyon Avenue Henderson, NV 89052

3 Beds 3 Baths 1,764 sqft Built 1997

INVESTimate

$420,000

List Price

$1,600

$1,440 - $1,760

Rent Est.

$448,602  ( +6.81%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $238.10
  • 7 Days on Market
  • MLS # : 2222684
  • Updated Date : 08/20/2020 at 08:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,764 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Get Ready To Move: This Seven Hills home in a gated community has 3BRs, 2.5BAs, & 1764sqft of upgrades. Oversized tile thru out the 1st floor, wood laminate up the stairs & thru out the 2nd floor, both with raised baseboards adding the finishing touch. The kitchen has stainless appliances, paneled cherry cabinets w/pulls & new granite counters with glass subway tile backsplash. The family room has a cozy fireplace and cooling ceiling fan; all bedrooms have fans, too. The Master suite includes a balcony & walkin closet, bath with dbl sinks & granite counter, upgraded cabinets & separate shower & tub. The 2nd bath has a granite counter & custom tile shower. The backyard has a covered patio with extend pavers and mature landscape with lawn area. But the piece-de-la-resistance are the breathtaking views from the balcony off the Master bedroom - the iconic night lights of the Las Vegas valley and stunning sunsets against the majestic mountains. All of this and convenience of Seven Hills.

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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: 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
 

$378,000$462,000$420,000

PURCHASE PRICE

$1,440$1,760$1,600

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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 $1,600
EXPENSES Loan Payment -$1,550
Property Tax -$214
Property Insurance -$61
HOA -$38
Property Management Fees -$119
CASH FLOW
-$382

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.

$420,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 6.81%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,550

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $105,000
Loan Amount $315,000
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$5,237

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,707

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6503$1,7004$1,7905$1,995
$1,995
RENT COMPS ANALYSIS
  • 3196 Castle Canyon Avenue Henderson, NV 1
    • 3 beds 3 baths ∙ 1,764 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,764 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.91
    •  
  • 3181 Dancing Hills Avenue #0 Henderson, NV 2
    • 3 beds 3 baths ∙ 1,686 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,686 Sqft ∙ Built 1997
    property image
    LEASED 10/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.98
    •  
  • 3188 Castle Canyon Avenue Henderson, NV 3
    • 3 beds 3 baths ∙ 1,764 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,764 Sqft ∙ Built 1997
    property image
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.96
    •  
  • 3189 Dancing Hills Avenue Henderson, NV 4
    • 3 beds 3 baths ∙ 1,958 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,958 Sqft ∙ Built 1997
    property image
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.91
    •  
  • 3064 Paseo Mountain Avenue Henderson, NV 5
    • 4 beds 3 baths ∙ 1,964 Sqft ∙ Built 1997 4 beds 3 baths ∙ 1,964 Sqft ∙ Built 1997
    property image
    LEASED 11/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.02
    •  
PROPERTY LISTING DETAILS
Delinda Crampton
1.702.219.3144
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222684
Last Updated: 08/20/2020
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