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353 Manzanita Street Henderson, NV 89014

3 Beds 2 Baths 1,531 sqft Built 1984

$298,000

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $194.64
  • 4 Days on Market
  • MLS # : 2264828
  • Updated Date : 01/30/2021 at 18:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,531 sqft
  • Baths : 1 full , 1 half
Listing Agent

Redfin

Listing Agent's Description

Quaint 3-bedroom home in ideal Green Valley location with NO HOA! So much charm and character from the moment you enter and are greeted by the brick fireplace in your cozy living room leading in to the eat-in kitchen. Off the kitchen is a bonus room - Ideal for home gym, office space, or game room! Generously-sized upstairs bedrooms include primary bedroom with en suite bath and walk-in closet. Spacious backyard is a great place for your four-legged family to relax in a low-maintenance setting. You will fall in love with this home!

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
Estes M. Mcdoniel Elementary School Primary Regular 556 34 7
Barbara And Hank Greenspun Middle School Middle Regular 1,397 55 NA
Green Valley High School High Regular 3,092 122 9

Estes M. Mcdoniel Elementary School

  • Education Level: Primary
  • # of students: 556
  • # of teachers: 34
7
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
 

$268,200$327,800$298,000

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$1,035
Property Tax -$134
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
$125

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.

$298,000

PROJECTED PRICE

$1,470

PROJECTED RENT

0.49%

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$1.2M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,720

INVESTMENT

$84,720

Down Payment
$74,500
Rehab Estimate
$5,750
Closing Costs
$4,470

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,035

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,500
Loan Amount $223,500
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$31,932

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,542

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4703$1,5004$1,5955$1,595
$1,595
RENT COMPS ANALYSIS
  • 353 Manzanita Street Henderson, NV 2
    • 3 beds 2 baths ∙ 1,531 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,531 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.96
    •  
  • 1675 Duarte Drive Henderson, NV 1
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1988
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.07
    •  
  • 361 Seine Way #1311 Henderson, NV 3
    • 3 beds 3 baths ∙ 1,433 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,433 Sqft ∙ Built 1991
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.05
    •  
  • 370 Santali Henderson, NV 4
    • 3 beds 1 baths ∙ 1,690 Sqft ∙ Built 1986 3 beds 1 baths ∙ 1,690 Sqft ∙ Built 1986
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.94
    •  
  • 1812 Nuevo Road Henderson, NV 5
    • 3 beds 1 baths ∙ 1,645 Sqft ∙ Built 1982 3 beds 1 baths ∙ 1,645 Sqft ∙ Built 1982
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.97
    •  
PROPERTY LISTING DETAILS
Shay Stein Fillinger
1.702.250.3306
Redfin
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2264828
Last Updated: 01/30/2021
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