Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

409 Ash Street Henderson, NV 89015

3 Beds 1 Baths 1,211 sqft Built 1979

$290,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $239.47
  • 3 Days on Market
  • MLS # : 2260241
  • Updated Date : 01/08/2021 at 21:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,211 sqft
  • Baths : 1 full
Listing Agent

Forever Home Realty

Listing Agent's Description

3 Bed, 2 Bath home with an amazing 4 car garage! This property sits on a large lot, no HOA! RV parking. Home has an attached garage and an incredible additional 800 square foot detached garage/structure with a bonus room. So many uses for this detached space; storage space for tools, cars, additional living space, or potential income producing rental space. Yard has plenty of room for entertaining. Fruit trees planted in backyard and a fenced-in garden. Home has granite countertops. Stainless steel appliances. New laminate flooring in living room and hall. Tile and carpet in the rest of the home. Awesome home, must see!

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: Valley View

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $74k340k

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

Neighborhood: Valley View

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8291825

* 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
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$1,007
Property Tax -$116
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
$137

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$290,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.3%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

8

YEARS SAVED

$30,181

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $1,281

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,075
1$1,0752$1,1953$1,3004$1,4005$1,430
$1,430
RENT COMPS ANALYSIS
  • 409 Ash Street Henderson, NV 5
    • 3 beds 1 baths ∙ 1,211 Sqft ∙ Built 1979 3 beds 1 baths ∙ 1,211 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $1.18
    •  
  • 915 Major Avenue Henderson, NV 1
    • 3 beds 2 baths ∙ 1,081 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,081 Sqft ∙ Built 1978
    property image
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,075
    • $0.99
    •  
  • 235 Mojave Henderson, NV 2
    • 3 beds 2 baths ∙ 1,176 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,176 Sqft ∙ Built 1993
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $1.02
    •  
  • 1004 Brookside Court Henderson, NV 3
    • 3 beds 1 baths ∙ 1,149 Sqft ∙ Built 1986 3 beds 1 baths ∙ 1,149 Sqft ∙ Built 1986
    property image
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.13
    •  
  • 165 Spinnaker Drive Henderson, NV 4
    • 3 beds 3 baths ∙ 1,285 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,285 Sqft ∙ Built 1986
    property image
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.09
    •  
PROPERTY LISTING DETAILS
Steven Morris
1.702.336.1621
Forever Home Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2260241
Last Updated: 01/08/2021
BESbswy