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323 Quito Court Henderson, NV 89014

3 Beds 2 Baths 1,407 sqft Built 1981

$299,900

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $213.15
  • 7 Days on Market
  • MLS # : 2254130
  • Updated Date : 12/08/2020 at 16:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,407 sqft
  • Baths : 2 full
Listing Agent

Maxim Realty

Listing Agent's Description

***WELCOME HOME***THIS LOVELY SINGLE STORY HOME IS LOCATED ON A CORNER LOT IN A CUL-DE-SAC AND IT INCLUDES A SPACIOUS FLOORPLAN WITH 3 BEDROOMS, 2 BATHS, LARGE KITCHEN WITH PLENTY OF CABINETS, LIVING & DINING ROOMS, TILE FLOORING & CARPETING, 2 CAR GARAGE, ENCLOSED BACK YARD AND MORE. CONVENIENTLY LOCATED TO SCHOOLS, SHOPPING & MORE! HURRY THIS ONE WONT LAST LONG!!

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: 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
James Gibson Elementary School Primary Regular 490 28 8
Barbara And Hank Greenspun Middle School Middle Regular 1,397 55 NA
Green Valley High School High Regular 3,092 122 9

James Gibson Elementary School

  • Education Level: Primary
  • # of students: 490
  • # of teachers: 28
8
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
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$1,107
Property Tax -$141
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
-$51

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.

$299,900

PROJECTED PRICE

$1,370

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$19,659

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,351

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3703$1,4754$1,5505$1,550
$1,550
RENT COMPS ANALYSIS
  • 323 Quito Court Henderson, NV 2
    • 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.97
    •  
  • 378 Umbria Way Henderson, NV 1
    • 3 beds 1 baths ∙ 1,374 Sqft ∙ Built 1985 3 beds 1 baths ∙ 1,374 Sqft ∙ Built 1985
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.98
    •  
  • 283 Comfort Drive Henderson, NV 3
    • 3 beds 2 baths ∙ 1,603 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,603 Sqft ∙ Built 1989
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.92
    •  
  • 1966 Magnolia Drive #0 Henderson, NV 4
    • 3 beds 2 baths ∙ 1,603 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,603 Sqft ∙ Built 1989
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.97
    •  
  • 370 Peach Tree Drive #0 Henderson, NV 5
    • 3 beds 1 baths ∙ 1,603 Sqft ∙ Built 1989 3 beds 1 baths ∙ 1,603 Sqft ∙ Built 1989
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.97
    •  
PROPERTY LISTING DETAILS
Jim Carmona
1.702.275.2430
Maxim Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2254130
Last Updated: 12/08/2020
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