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343 Wintercress Drive Henderson, NV 89002

5 Beds 3 Baths 2,097 sqft Built 1990

$389,999

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $185.98
  • 4 Days on Market
  • MLS # : 2273831
  • Updated Date : 03/07/2021 at 00:28
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,097 sqft
  • Baths : 3 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

This newly renovated stunner has 5 bedrooms and 3 full baths. This home has a great large corner lot and private pool with slide for summer fun! Built in fire pit, fruit trees, and a nice spacious play area. Nice size balcony of master, roof is only 3 years old, all new tile flooring and new carpet upstairs .All bathrooms have new vanity's and new toilets. Kitchen has double ovens new back splash and counter tops. Beautiful white cabinets and island with tons of storage. Laundry room has sink, lots of cabinets and folding table or desk. No HOA here . Beautiful mountain views, from you master balcony! All bedrooms are upstairs.

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: Highland Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $117k340k

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

Neighborhood: Highland Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9181825

* 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
Fay Galloway Elementary School Primary Regular 691 36 6
Jack And Terry Mannion Middle School Middle Regular 1,523 62 NA
Foothill High School High Regular 2,883 109 7

Fay Galloway Elementary School

  • Education Level: Primary
  • # of students: 691
  • # of teachers: 36
6
GreatSchools Rating

Jack And Terry Mannion Middle School

  • Education Level: Middle
  • # of students: 1,523
  • # of teachers: 62
NA
GreatSchools Rating

Foothill High School

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

$350,999$428,999$389,999

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,355
Property Tax -$197
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
-$109

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.

$389,999

PROJECTED PRICE

$1,630

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.2%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,355

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,500
Loan Amount $292,499
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$16,889

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,709

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6003$1,6304$1,7005$1,850
$1,850
RENT COMPS ANALYSIS
  • 343 Wintercress Drive Henderson, NV 3
    • 5 beds 3 baths ∙ 2,097 Sqft ∙ Built 1990 5 beds 3 baths ∙ 2,097 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.78
    •  
  • 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
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.79
    •  
  • 195 Regal Sunset Avenue #0 Henderson, NV 2
    • 4 beds 2 baths ∙ 1,927 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,927 Sqft ∙ Built 2000
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.83
    •  
  • 855 Coach House Road Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,018 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,018 Sqft ∙ Built 1994
    property image
    LEASED 04/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.84
    •  
  • 533 Oakwood Court Henderson, NV 5
    • 4 beds 3 baths ∙ 2,305 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,305 Sqft ∙ Built 1977
    property image
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.80
    •  
PROPERTY LISTING DETAILS
Brenda Kniaz-schlipp
1.702.493.4568
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2273831
Last Updated: 03/07/2021
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