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386 Ambitious Street Henderson, NV 89011

3 Beds 3 Baths 1,906 sqft Built 2017

$365,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $191.50
  • 4 Days on Market
  • MLS # : 2261597
  • Updated Date : 01/16/2021 at 15:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,906 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Southern Nevada

Listing Agent's Description

This beautiful open concept 3 bedroom, 3 bath home features a huge kitchen with bright white cabinets, granite countertops, a walk-in pantry, and gorgeous wood-look ceramic tile floors. The oversized primary bedroom features an en suite bathroom with a separate tub/shower with a rainfall shower head and dual closets. The second floor features two well-appointed secondary bedrooms, a full bathroom, a loft area, and a separate laundry room. The very private and completely landscaped backyard features a paver patio with malibu lighting. This CalAtlantic "Horizon" floor plan home also features a tankless hot water heater and is located in the desirable Master-Planned Community of Cadence in Henderson. This beautifully maintained neighborhood features a 50 acre Community Park, Olympic size Pool, 2000 sq.ft. Splash Pad, Walking Trails, Community Lake, and Dog Parks. Hurry as this stunning property will not last long!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$328,500$401,500$365,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,268
Property Tax -$262
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
$17

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.

$365,000

PROJECTED PRICE

$1,730

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

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$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,268

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$25,427

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,715

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,730
1$1,7302$1,7503$1,7504$1,8155$1,950
$1,950
RENT COMPS ANALYSIS
  • 386 Ambitious Street Henderson, NV 1
    • 3 beds 3 baths ∙ 1,906 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,906 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.91
    •  
  • 268 Persistence Court Henderson, NV 2
    • 3 beds 3 baths ∙ 2,066 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,066 Sqft ∙ Built 2016
    property image
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.85
    •  
  • 392 Espressivo Street Henderson, NV 3
    • 3 beds 3 baths ∙ 1,876 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,876 Sqft ∙ Built 2018
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.93
    •  
  • 346 Gracious Way Henderson, NV 4
    • 3 beds 2 baths ∙ 2,062 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,062 Sqft ∙ Built 2017
    property image
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,815
    • $0.88
    •  
  • 384 Ambitious Henderson, NV 5
    • 3 beds 3 baths ∙ 2,066 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,066 Sqft ∙ Built 2017
    property image
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.94
    •  
PROPERTY LISTING DETAILS
Brian Morris
1.702.308.0651
Keller Williams Southern Nevada
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261597
Last Updated: 01/16/2021
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