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414 Presque Isle Street Henderson, NV 89074

4 Beds 3 Baths 3,254 sqft Built 1995

INVESTimate

$485,000

List Price

$2,350

$2,115 - $2,585

Rent Est.

$528,456  ( +8.96%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $149.05
  • 6 Days on Market
  • MLS # : 2223347
  • Updated Date : 08/21/2020 at 10:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,254 sqft
  • Baths : 3 full
Listing Agent

Empire Realty & Management

Listing Agent's Description

Congratulations to the buyer that finds this gem! Welcome to the market, this one of a kind, two story, Henderson home. With over 3000 sq/ft of living space, 4 bedrooms/4bathrooms, and a 3 car garage, there is endless potential. Enter foyer to welcoming vaunted ceilings, and a beautiful spiral staircase. Downstairs has a separate living room, and family room, a large laundry room, and a very spacious kitchen, with tons of cabinets and island. Upstairs features 4 bedrooms, with primary bedroom secluded from others, for privacy. They don't make bedrooms this big anymore.. over-sized, entry to private patio, and 2 way gas fireplace into main bathroom. Bathroom is also roomy, with a shower/tub combo, his/her sinks, and nice walk-in closet. This backyard is mature and low maintenance, a large covered patio with 2 fans, and no homes will ever be built directly behind. If you're searching this area, this is a prime location! So much more to see.. bring your buyer while this lasts!

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: Southfork

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k393k

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

Neighborhood: Southfork

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10802255

* 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
Glen C. Taylor Elementary School Primary Regular 961 46 9
Bob Miller Middle School Middle Regular 1,600 59 NA
Coronado High School High Regular 3,240 124 10

Glen C. Taylor Elementary School

  • Education Level: Primary
  • # of students: 961
  • # of teachers: 46
9
GreatSchools Rating

Bob Miller Middle School

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

Coronado High School

  • Education Level: High
  • # of students: 3,240
  • # of teachers: 124
10
GreatSchools Rating
 

$436,500$533,500$485,000

PURCHASE PRICE

$2,115$2,585$2,350

RENT

DOWN PAYMENT
FINANCING

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$1.8M

PROJECTED ANNUAL CASH FLOW

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

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,350
EXPENSES Loan Payment -$1,789
Property Tax -$323
Property Insurance -$90
HOA -$28
Property Management Fees -$119
CASH FLOW
$1

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.

$485,000

PROJECTED PRICE

$2,350

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.96%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$134,275

INVESTMENT

$134,275

Down Payment
$121,250
Rehab Estimate
$5,750
Closing Costs
$7,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,789

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $121,250
Loan Amount $363,750
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$38,612

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,350

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $2,392

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$2,125
1$2,1252$2,1953$2,3504$2,5005$2,600
$2,600
RENT COMPS ANALYSIS
  • 414 Presque Isle Street Henderson, NV 3
    • 4 beds 3 baths ∙ 3,254 Sqft ∙ Built 1995 4 beds 3 baths ∙ 3,254 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.72
    •  
  • 2640 Copper Cove Drive Henderson, NV 1
    • 5 beds 4 baths ∙ 3,068 Sqft ∙ Built 1993 5 beds 4 baths ∙ 3,068 Sqft ∙ Built 1993
    LEASED 01/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,125
    • $0.69
    •  
  • 9671 Wood Fern Las Vegas, NV 2
    • 5 beds 3 baths ∙ 3,035 Sqft ∙ Built 1997 5 beds 3 baths ∙ 3,035 Sqft ∙ Built 1997
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.72
    •  
  • 1904 Imola Court Las Vegas, NV 4
    • 4 beds 3 baths ∙ 3,437 Sqft ∙ Built 1997 4 beds 3 baths ∙ 3,437 Sqft ∙ Built 1997
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.73
    •  
  • 1565 Juniper Twig Avenue Las Vegas, NV 5
    • 5 beds 4 baths ∙ 3,247 Sqft ∙ Built 2000 5 beds 4 baths ∙ 3,247 Sqft ∙ Built 2000
    LEASED 11/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.80
    •  
PROPERTY LISTING DETAILS
Robert W Zirkel
1.702.250.5176
Empire Realty & Management
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223347
Last Updated: 08/21/2020
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