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414 Highspot Street Henderson, NV 89011

3 Beds 3 Baths 2,048 sqft Built 2016

$439,900

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $214.79
  • 2 Days on Market
  • MLS # : 2260715
  • Updated Date : 01/16/2021 at 23:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,048 sqft
  • Baths : 2 full , 1 half
Listing Agent

Orange Realty Group Llc

Listing Agent's Description

Beautifully appointed single story home with open floor plan GREAT FOR ENTERTAINING located in Cadence Village with community pool and recreation. 9ft ceilings with 8ft doors and large tile flooring throughout. Kitchen has OVERSIZED ISLAND with double oven, cooktop stove with back splash and granite countertops. This beauty has 3 bedrooms with a BOUNUS DEN. Master bedroom separate from others with ceiling fans throughout home. Exterior pavers front and back with covered patio and front courtyard. This home is definitely a must see and has been well taken care of.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (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
 

$395,910$483,890$439,900

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,528
Property Tax -$317
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
-$71

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.

$439,900

PROJECTED PRICE

$1,960

PROJECTED RENT

0.45%

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$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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,324

INVESTMENT

$122,324

Down Payment
$109,975
Rehab Estimate
$5,750
Closing Costs
$6,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,528

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $109,975
Loan Amount $329,925
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$22,702

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,048

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9603$1,9954$2,1005$2,200
$2,200
RENT COMPS ANALYSIS
  • 414 Highspot Street Henderson, NV 2
    • 3 beds 3 baths ∙ 2,048 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,048 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.96
    •  
  • 370 Con Brio Lane Henderson, NV 1
    • 4 beds 2 baths ∙ 1,916 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,916 Sqft ∙ Built 2017
    LEASED 01/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.97
    •  
  • 370 Inflection Street Henderson, NV 3
    • 3 beds 2 baths ∙ 2,151 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,151 Sqft ∙ Built 2018
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.93
    •  
  • 483 Fortissimo Street Henderson, NV 4
    • 4 beds 3 baths ∙ 2,030 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,030 Sqft ∙ Built 2016
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.03
    •  
  • 517 Cadence View Way Henderson, NV 5
    • 3 beds 2 baths ∙ 2,048 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,048 Sqft ∙ Built 2016
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.07
    •  
PROPERTY LISTING DETAILS
Jennifer N Thighman
1.702.683.7655
Orange Realty Group Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2260715
Last Updated: 01/16/2021
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