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447 Leighann Rd Henderson, NV 89015

3 Beds 2 Baths 1,369 sqft Built 1992

INVESTimate

$279,900

List Price

$1,460

$1,314 - $1,606

Rent Est.

$308,478  ( +10.21%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1992
  • Price/Sqft : $204.46
  • 17 Days on Market
  • MLS # : 2222630
  • Updated Date : 08/22/2020 at 08:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,369 sqft
  • Baths : 2 full
Listing Agent

Movoto, Inc

Listing Agent's Description

447 LEIGHANN ROAD is under handyman updating and painting inside. This 3 beds & 2 baths, the 1-story house has Open Floor plan, just at the back of Fiesta Hotel & Casino, perfect for Owner-occupied and great for Rental due to proximity to all amenities: shopping, hospital, Pharmacy, Groceries, Workout/Gym, and Fast Food National Tenants. This house won't last. Make an offer!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Black Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $111k340k

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

Neighborhood: Black Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9451825

* 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
Ulis Newton Elementary School Primary Regular 611 35 7
Lyal Burkholder Middle School Middle Regular 747 34 NA
Foothill High School High Regular 2,883 109 7

Ulis Newton Elementary School

  • Education Level: Primary
  • # of students: 611
  • # of teachers: 35
7
GreatSchools Rating

Lyal Burkholder Middle School

  • Education Level: Middle
  • # of students: 747
  • # of teachers: 34
NA
GreatSchools Rating

Foothill High School

  • Education Level: High
  • # of students: 2,883
  • # of teachers: 109
7
GreatSchools Rating
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,314$1,606$1,460

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

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$1,033
Property Tax -$154
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
$101

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.

$279,900

PROJECTED PRICE

$1,460

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.21%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

7.83

YEARS SAVED

$33,387

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,441

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,220
1$1,2202$1,3003$1,4604$1,4955$1,500
$1,500
RENT COMPS ANALYSIS
  • 447 Leighann Rd Henderson, NV 3
    • 3 beds 2 baths ∙ 1,369 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,369 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $1.07
    •  
  • 423 Leighann Henderson, NV 1
    • 3 beds 1 baths ∙ 1,247 Sqft ∙ Built 1992 3 beds 1 baths ∙ 1,247 Sqft ∙ Built 1992
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,220
    • $0.98
    •  
  • 423 Nancy Drive Henderson, NV 2
    • 3 beds 2 baths ∙ 1,247 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,247 Sqft ∙ Built 1994
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.04
    •  
  • 417 Rocky Road Henderson, NV 4
    • 3 beds 2 baths ∙ 1,369 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,369 Sqft ∙ Built 1996
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.09
    •  
  • 470 Wright Way Henderson, NV 5
    • 3 beds 1 baths ∙ 1,368 Sqft ∙ Built 1996 3 beds 1 baths ∙ 1,368 Sqft ∙ Built 1996
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.10
    •  
PROPERTY LISTING DETAILS
Norma Gutin
1.310.489.2459
Movoto, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222630
Last Updated: 08/22/2020
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