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353 Seine Way #0 # 0 Henderson, NV 89014

3 Beds 2 Baths 1,433 sqft Built 1991

INVESTimate

$264,900

List Price

$1,380

$1,242 - $1,518

Rent Est.

$289,403  ( +9.25%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1991
  • Price/Sqft : $184.86
  • 11 Days on Market
  • MLS # : 2221863
  • Updated Date : 08/21/2020 at 16:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,433 sqft
  • Baths : 2 full
Listing Agent

All Vegas Valley Realty

Listing Agent's Description

Check out this amazing 3 bedroom, 3 bathroom, attached home with 2 car garage and your very own courtyard. Downstairs bedroom has a walk in shower, upstairs bedrooms are set up with with their own bathroom. Updated kitchen with granite counters and stainless steel appliances, custom tile back splash. Solid surface flooring throughout and vaulted ceilings making this home feel larger and all bedrooms are oversized. Living room features sliding door to courtyard and gas fireplace with custom stone surrounding. Dining room features french doors to the courtyard and breakfast bar between the two rooms. This is a town home style, attached home with only one neighbor on the North side, large courtyard separating the garage from the house and large trees providing great shade in the hot afternoon hours. HOA monthly fee includes water, trash, sewer, exterior maintenance,roofs, community pool/spa, clubhouse and maintenance of the common areas.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Selma F. Bartlett Elementary School Primary Regular 682 35 10
Barbara And Hank Greenspun Middle School Middle Regular 1,397 55 NA
Green Valley High School High Regular 3,092 122 9

Selma F. Bartlett Elementary School

  • Education Level: Primary
  • # of students: 682
  • # of teachers: 35
10
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
 

$238,410$291,390$264,900

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$977
Property Tax -$103
Property Insurance -$55
HOA -$245
Property Management Fees -$119
CASH FLOW
-$119

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.

$264,900

PROJECTED PRICE

$1,380

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.25%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,949

INVESTMENT

$75,949

Down Payment
$66,225
Rehab Estimate
$5,750
Closing Costs
$3,974

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$977

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,225
Loan Amount $198,675
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$8,838

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
  • $1,433

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3803$1,3954$1,4505$1,495
$1,495
RENT COMPS ANALYSIS
  • 353 Seine Way #0 Henderson, NV 2
    • 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.96
    •  
  • 1672 Normandy #711 Henderson, NV 1
    • 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 1991
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.94
    •  
  • 1692 Clear Look Court #0 Henderson, NV 3
    • 3 beds 2 baths ∙ 1,314 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,314 Sqft ∙ Built 1994
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.06
    •  
  • 1675 Duarte Drive Henderson, NV 4
    • 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
    •  
  • 326 Laguna Glen Drive #0 Henderson, NV 5
    • 3 beds 1 baths ∙ 1,600 Sqft ∙ Built 1998 3 beds 1 baths ∙ 1,600 Sqft ∙ Built 1998
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.93
    •  
PROPERTY LISTING DETAILS
Holly Marquardt
1.702.400.7774
All Vegas Valley Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2221863
Last Updated: 08/21/2020
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