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404 Crater Court Henderson, NV 89014

3 Beds 2 Baths 2,320 sqft Built 1988

$450,000

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $193.97
  • 3 Days on Market
  • MLS # : 2263199
  • Updated Date : 01/22/2021 at 17:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,320 sqft
  • Baths : 1 full , 1 half
Listing Agent

Homesmart Encore

Listing Agent's Description

Must see this stunning home in the heart of Green Valley! The home was updated top to bottom with new flooring, new paint, new equipment and solar heating for the pool and beautifully done kitchen and bathrooms. The kitchen features a large pantry, custom cabinets, stainless steel appliances and recessed lighting with waterfall quartz countertops. Spacious master bedroom has a barn door to bathroom with TWO walk in closets! Newer water heater and seven stage refining soft water system. From a large living room, family room and bedrooms to a massive 3 car garage if you need SPACE this home has it! Schedule a showing today!

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: 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
 

$405,000$495,000$450,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,563
Property Tax -$233
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
-$48

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.

$450,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.43%

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$1.6M

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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$25,562

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,972

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8953$1,9404$1,9955$2,100
$2,100
RENT COMPS ANALYSIS
  • 404 Crater Court Henderson, NV 3
    • 3 beds 2 baths ∙ 2,320 Sqft ∙ Built 1988 3 beds 2 baths ∙ 2,320 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.84
    •  
  • 1821 Walker Lane Henderson, NV 1
    • 4 beds 3 baths ∙ 2,465 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,465 Sqft ∙ Built 1989
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.73
    •  
  • 324 Redondo Street Henderson, NV 2
    • 3 beds 3 baths ∙ 2,192 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,192 Sqft ∙ Built 1987
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.86
    •  
  • 398 Decareo Court Henderson, NV 4
    • 3 beds 2 baths ∙ 2,267 Sqft ∙ Built 1987 3 beds 2 baths ∙ 2,267 Sqft ∙ Built 1987
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.88
    •  
  • 397 Chadwick Circle Henderson, NV 5
    • 3 beds 2 baths ∙ 2,267 Sqft ∙ Built 1987 3 beds 2 baths ∙ 2,267 Sqft ∙ Built 1987
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.93
    •  
PROPERTY LISTING DETAILS
Adrienne Medina
1.702.907.4448
Homesmart Encore
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2263199
Last Updated: 01/22/2021
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