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374 Lander Drive Henderson, NV 89074

4 Beds 3 Baths 2,186 sqft Built 1990

$359,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $164.23
  • 4 Days on Market
  • MLS # : 2264836
  • Updated Date : 01/29/2021 at 02:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,186 sqft
  • Baths : 2 full , 1 half
Listing Agent

Empire Realty & Management

Listing Agent's Description

Stop your search, and welcome this awesome 2-story home to the Las Vegas market. This home features 4 bedrooms/3bathrooms, an enclosed patio area, skylights, gas fireplace, and so much more. Walk in to a spacious living area, and vaunted ceilings. The cozy kitchen is perfect for all cooking, and entertaining needs. This floor plan flows right into the dining area, and separate living area. Upstairs has 4 bedrooms, with the primary on its own wing of the home. Sizable primary room, with walk-in closet, and bathroom with his & hers vanity, and shower/tub combo. Your new backyard is quite spacious for many new ideas, and has it's own private addition already built in. Low HOA! Conveniently located to all shopping, highway, and entertainment needs! Come on by, while this one lasts!

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
David M. Cox Elementary School Primary Regular 625 32 8
Barbara And Hank Greenspun Middle School Middle Regular 1,397 55 NA
Silverado High School High Regular 2,263 94 5

David M. Cox Elementary School

  • Education Level: Primary
  • # of students: 625
  • # of teachers: 32
8
GreatSchools Rating

Barbara And Hank Greenspun Middle School

  • Education Level: Middle
  • # of students: 1,397
  • # of teachers: 55
NA
GreatSchools Rating

Silverado High School

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

$323,100$394,900$359,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,247
Property Tax -$214
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
$100

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.

$359,000

PROJECTED PRICE

$1,750

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$1.4M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$100,885

INVESTMENT

$100,885

Down Payment
$89,750
Rehab Estimate
$5,750
Closing Costs
$5,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,247

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,750
Loan Amount $269,250
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$32,782

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,803

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7503$1,7504$1,7955$1,895
$1,895
RENT COMPS ANALYSIS
  • 374 Lander Drive Henderson, NV 3
    • 4 beds 3 baths ∙ 2,186 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,186 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.80
    •  
  • 2664 Ridgewater Circle Henderson, NV 1
    • 3 beds 3 baths ∙ 2,021 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,021 Sqft ∙ Built 1995
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.87
    •  
  • 3133 Strawberry Park Drive Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,354 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,354 Sqft ∙ Built 2004
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.74
    •  
  • 3158 Rabbit Creek Drive Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,276 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,276 Sqft ∙ Built 2004
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.79
    •  
  • 342 Clayton Street Henderson, NV 5
    • 4 beds 3 baths ∙ 2,108 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,108 Sqft ∙ Built 1987
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.90
    •  
PROPERTY LISTING DETAILS
Jason Ross
1.702.274.1597
Empire Realty & Management
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2264836
Last Updated: 01/29/2021
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