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382 Otsego Court Henderson, NV 89012

5 Beds 4 Baths 3,715 sqft Built 2001

$599,999

List Price

$2,750

$2.5K - $3K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $161.51
  • 4 Days on Market
  • MLS # : 2265082
  • Updated Date : 01/29/2021 at 17:29
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,715 sqft
  • Baths : 4 full
Listing Agent

Galindo Group Real Estate

Listing Agent's Description

Located in the beautiful Green Valley Ranch community, this 3,715 sq/ft 5 bdrm has so much to offer! Full Strip view! 3 car garage is a must see! Equipped with custom cabinets and workstation atop brand new epoxy floors. RV gate/parking offers room for the family toys. Huge open downstairs layout gives several options for living/dining room set up and includes the 5th bdrm. Perfect for a big family. Very comfortable oversized loft upstairs. Master bdrm includes separate sitting room, and very tasteful custom designed bathroom with his and her sinks and separate vanity. The backyard is the star of the show! The glistening pool is accompanied by a water fall and elevated jacuzzi. Custom built-in BBQ and palapa are great for entertaining. Entire backyard is perfectly illuminated with wall to wall string lights. Landscape offers an array of well-maintained palm trees to give a cool summer nights vibe.

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: MacDonald Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $123k549k

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

Neighborhood: MacDonald Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200230024002500Rent in $10802503

* 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
John Vanderburg Elementary School Primary Regular 929 45 10
Bob Miller Middle School Middle Regular 1,600 59 NA
Foothill High School High Regular 2,883 109 7

John Vanderburg Elementary School

  • Education Level: Primary
  • # of students: 929
  • # of teachers: 45
10
GreatSchools Rating

Bob Miller Middle School

  • Education Level: Middle
  • # of students: 1,600
  • # of teachers: 59
NA
GreatSchools Rating

Foothill High School

  • Education Level: High
  • # of students: 2,883
  • # of teachers: 109
7
GreatSchools Rating
 

$539,999$659,999$599,999

PURCHASE PRICE

$2,475$3,025$2,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,750
EXPENSES Loan Payment -$2,084
Property Tax -$372
Property Insurance -$99
Property Management Fees -$119
CASH FLOW
$76

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.

$599,999

PROJECTED PRICE

$2,750

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 6.4%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,750

INVESTMENT

$164,750

Down Payment
$150,000
Rehab Estimate
$5,750
Closing Costs
$9,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,084

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $150,000
Loan Amount $449,999
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$46,852

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,750

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,898

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,7503$2,8004$2,9005$3,095
$3,095
RENT COMPS ANALYSIS
  • 382 Otsego Court Henderson, NV 2
    • 5 beds 4 baths ∙ 3,715 Sqft ∙ Built 2001 5 beds 4 baths ∙ 3,715 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.74
    •  
  • 1404 Blaine Ranch Street Henderson, NV 1
    • 6 beds 5 baths ∙ 3,597 Sqft ∙ Built 1998 6 beds 5 baths ∙ 3,597 Sqft ∙ Built 1998
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.70
    •  
  • 399 Suzanne Peak Court Henderson, NV 3
    • 5 beds 3 baths ∙ 3,728 Sqft ∙ Built 2000 5 beds 3 baths ∙ 3,728 Sqft ∙ Built 2000
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.75
    •  
  • 332 Glistening Cloud Drive Henderson, NV 4
    • 5 beds 4 baths ∙ 3,602 Sqft ∙ Built 2000 5 beds 4 baths ∙ 3,602 Sqft ∙ Built 2000
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.81
    •  
  • 1827 Country Meadows Drive Henderson, NV 5
    • 4 beds 4 baths ∙ 3,602 Sqft ∙ Built 1999 4 beds 4 baths ∙ 3,602 Sqft ∙ Built 1999
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,095
    • $0.86
    •  
PROPERTY LISTING DETAILS
Nathaniel T Carpenter
1.702.739.4502
Galindo Group Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2265082
Last Updated: 01/29/2021
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