Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

340 East Delamar Drive Henderson, NV 89015

3 Beds 2 Baths 2,251 sqft Built 1979

$375,000

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $166.59
  • 2 Days on Market
  • MLS # : 2247803
  • Updated Date : 11/14/2020 at 16:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,251 sqft
  • Baths : 2 full
Listing Agent

The Baird Group, Llc

Listing Agent's Description

GREAT BUY ON THIS CUSTOM SINGLE STORY ON .37 ACRE CORNER LOT! CIRCLE DRIVEWAY WITH EXTRA PARKING ON SIDE YARD AND RV, BOAT & TOY PARKING THROUGH BACKYARD SIDE GATE. COURTYARD ENTRY, UNIQUE FLOOR PLAN WITH LARGE LIVING ROOM WITH FORMAL DINING AREA AND GLASS ENCLOSED ROOM FOR PLANTS ETC, SPACIOUS FAMILY ROOM WITH FIREPLACE, KITCHEN FEATURES LARGE BREAKFAST BAR, PANTRY CABINETS, STAINLESS STEEL APPLIANCES INCLUDING FRIDGE, BUILT IN OVEN AND MICROWAVE. TRASH COMPACTOR, 3 BEDROOMS , TWO CAR GARAGE WITH STORAGE AND WORK-BENCH. NEWER WINDOWS, ROOF AND AC UNIT. HOME FACES SOUTH FOR SHADE IN BACK-YARD FOR SUMMER ENJOYMENT! SEE IT TODAY!

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
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,384
Property Tax -$196
Property Insurance -$71
Property Management Fees -$119
CASH FLOW
$71

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.

$375,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.49%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$37,763

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,919

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,7003$1,8404$2,0005$2,400
$2,400
RENT COMPS ANALYSIS
  • 340 East Delamar Drive Henderson, NV 3
    • 3 beds 2 baths ∙ 2,251 Sqft ∙ Built 1979 3 beds 2 baths ∙ 2,251 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.82
    •  
  • 861 Coral Cottage Drive Henderson, NV 1
    • 4 beds 3 baths ∙ 2,018 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,018 Sqft ∙ Built 1994
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.79
    •  
  • 855 Coach House Road Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,018 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,018 Sqft ∙ Built 1994
    LEASED 04/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.84
    •  
  • 369 Country Club Drive Henderson, NV 4
    • 3 beds 3 baths ∙ 2,489 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,489 Sqft ∙ Built 1994
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.80
    •  
  • 500 Fairway Road Henderson, NV 5
    • 3 beds 2 baths ∙ 2,444 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,444 Sqft ∙ Built 1996
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.98
    •  
PROPERTY LISTING DETAILS
Steven D Baird
1.702.592.9927
The Baird Group, Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2247803
Last Updated: 11/14/2020
BESbswy