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350 Mezzaforte Street Henderson, NV 89011

4 Beds 2 Baths 2,396 sqft Built 2018

$415,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $173.21
  • 6 Days on Market
  • MLS # : 2268380
  • Updated Date : 02/10/2021 at 20:38
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,396 sqft
  • Baths : 1 full , 1 half
Listing Agent

Elite Realty

Listing Agent's Description

Beautiful home with too many upgrades to list including: upgraded cabinetry, gourmet kitchen w/stunning backsplash and undermount lighting, GE stainless steel appliance package, refrigerator, Elkay Quartz undercounter Single Bowl scratch-fade-and stain resistant sink, granite countertops in kitchen, quartz countertops in bathrooms, energy efficient tankless water heater, Sunburst shutters, blinds, French doors at den, oversized loft, ceiling fans and recessed lighting, elegant wrought iron rails, water softener, side garage door, upgraded carpet and padding. Cadence offers a beautiful community pool, splash pad, parks, trails, and many more amenities.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Cadence

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k600k

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

Neighborhood: Cadence

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10801929

* 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
C.t. Sewell Elementary School Primary Regular 833 41 8
B. Mahlon Brown Junior High School Middle Regular 978 46 NA
Basic High School High Regular 2,367 100 3

C.t. Sewell Elementary School

  • Education Level: Primary
  • # of students: 833
  • # of teachers: 41
8
GreatSchools Rating

B. Mahlon Brown Junior High School

  • Education Level: Middle
  • # of students: 978
  • # of teachers: 46
NA
GreatSchools Rating

Basic High School

  • Education Level: High
  • # of students: 2,367
  • # of teachers: 100
3
GreatSchools Rating
 

$373,500$456,500$415,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,441
Property Tax -$284
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
$15

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.

$415,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.2%
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$1.4M$1.6M

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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,441

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$28,640

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,927

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8753$1,8954$1,9305$1,995
$1,995
RENT COMPS ANALYSIS
  • 350 Mezzaforte Street Henderson, NV 4
    • 4 beds 2 baths ∙ 2,228 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,228 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.87
    •  
  • 268 Persistence Court Henderson, NV 1
    • 3 beds 3 baths ∙ 2,066 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,066 Sqft ∙ Built 2016
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.85
    •  
  • 856 Water Street Henderson, NV 2
    • 4 beds 3 baths ∙ 2,325 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,325 Sqft ∙ Built 2017
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.81
    •  
  • 348 Mezzaforte Street Henderson, NV 3
    • 4 beds 2 baths ∙ 2,320 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,320 Sqft ∙ Built 2018
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.82
    •  
  • 829 Water Street Henderson, NV 5
    • 4 beds 3 baths ∙ 2,030 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,030 Sqft ∙ Built 2018
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.98
    •  
PROPERTY LISTING DETAILS
Bernadette M Santos
1.702.348.5480
Elite Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2268380
Last Updated: 02/10/2021
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