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35 Westheimer Road Henderson, NV 89074

3 Beds 2 Baths 1,444 sqft Built 1987

$390,000

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $270.08
  • 4 Days on Market
  • MLS # : 2274076
  • Updated Date : 03/05/2021 at 19:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,444 sqft
  • Baths : 2 full
Listing Agent

Re/max Advantage

Listing Agent's Description

WOW! THIS IS STUNNING! TOTALLY REMODELED! You'll love the warmth and charm of this beautiful home. Gorgeous, vinyl, waterproof plank flooring everywhere! NEW interior paint, NEW kitchen with beautiful Quartz counter tops, smoky/ash cabinets that are soft-closing, new stainless steel appliances, NEW hardware, NEW plumbing fixtures, new light fixtures! Both bathrooms also have new quartz counters & . Vaulted ceilings! Great backyard!

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: Green Valley South

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k362k

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

Neighborhood: Green Valley South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10801875

* 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
Aggie Roberts Elementary School Primary Regular 805 39 7
Jack L. Schofield Middle School Middle Regular 1,332 51 NA
Silverado High School High Regular 2,263 94 5

Aggie Roberts Elementary School

  • Education Level: Primary
  • # of students: 805
  • # of teachers: 39
7
GreatSchools Rating

Jack L. Schofield Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 51
NA
GreatSchools Rating

Silverado High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
5
GreatSchools Rating
 

$351,000$429,000$390,000

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$1,355
Property Tax -$159
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
-$308

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.

$390,000

PROJECTED PRICE

$1,380

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.9%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
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

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

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 60% 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 $292,500
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$5,545

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,386

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,380
1$1,3802$1,4003$1,4254$1,4955$1,495
$1,495
RENT COMPS ANALYSIS
  • 35 Westheimer Road Henderson, NV 1
    • 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.96
    •  
  • 2494 Via Di Autostrada Henderson, NV 2
    • 3 beds 3 baths ∙ 1,493 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,493 Sqft ∙ Built 1995
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.94
    •  
  • 2603 Peat Moss Henderson, NV 3
    • 3 beds 3 baths ∙ 1,523 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,523 Sqft ∙ Built 1996
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.94
    •  
  • 2600 Glen Green Avenue Henderson, NV 4
    • 3 beds 3 baths ∙ 1,523 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,523 Sqft ∙ Built 1996
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.98
    •  
  • 2602 Glen Green Avenue Henderson, NV 5
    • 3 beds 3 baths ∙ 1,523 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,523 Sqft ∙ Built 1996
    LEASED 02/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.98
    •  
PROPERTY LISTING DETAILS
Michael Pearce
1.702.595.5341
Re/max Advantage
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2274076
Last Updated: 03/05/2021
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