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470 Palegold Street Henderson, NV 89012

2 Beds 2 Baths 1,369 sqft Built 2000

$349,900

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $255.59
  • 4 Days on Market
  • MLS # : 2242359
  • Updated Date : 11/02/2020 at 16:21
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,369 sqft
  • Baths : 2 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

***STUNNING UNOBSTRUCTED STRIP/CITY & BLACK MOUNTAIN VIEWS!!!*** in this Single Story well maintained Henderson Gem. Great location with easy access to the 95 & 215 Freeways, as well as Lake Mead Nat'l Recreation Area & plenty of shops & restaurants nearby*** Home is 2 Bdrms plus a large Den that can easily be converted to a 3rd Bedroom***Open Floor Plan with Pot Shelving throughout & Vaulted Ceilings in the Living Room & Master Bedroom***Ceiling Fans throughout*** All Appliances Included***Brand New AC & Garage Door Opener, Newer Water Heater ***House has Solar Panels to save on your Electric Bills!*** Solar Screens on all Windows *** Garage has Cabinets for extra storage*** Low Maintenance Landscaping*** Low HOA! ***So Much to LOVE about this property! And....Did I mention THE VIEWS???

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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: McCullough Hills

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k366k

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

Neighborhood: McCullough Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10801914

* 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
Jack And Terry Mannion Middle School Middle Regular 1,523 62 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

Jack And Terry Mannion Middle School

  • Education Level: Middle
  • # of students: 1,523
  • # of teachers: 62
NA
GreatSchools Rating

Foothill High School

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

$314,910$384,890$349,900

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$1,291
Property Tax -$190
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
-$314

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.

$349,900

PROJECTED PRICE

$1,340

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$4,898

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,431

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,3403$1,3504$1,3505$1,395
$1,395
RENT COMPS ANALYSIS
  • 470 Palegold Street Henderson, NV 2
    • 2 beds 2 baths ∙ 1,369 Sqft ∙ Built 2000 2 beds 2 baths ∙ 1,369 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.98
    •  
  • 78 Falcon Feather Way Henderson, NV 1
    • 2 beds 3 baths ∙ 1,267 Sqft ∙ Built 2005 2 beds 3 baths ∙ 1,267 Sqft ∙ Built 2005
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.94
    •  
  • 484 Baby Eagle Henderson, NV 3
    • 2 beds 3 baths ∙ 1,267 Sqft ∙ Built 2006 2 beds 3 baths ∙ 1,267 Sqft ∙ Built 2006
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.07
    •  
  • 488 Parrot Beak Henderson, NV 4
    • 2 beds 3 baths ∙ 1,267 Sqft ∙ Built 2006 2 beds 3 baths ∙ 1,267 Sqft ∙ Built 2006
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.07
    •  
  • 476 Eagle Egg Henderson, NV 5
    • 2 beds 3 baths ∙ 1,267 Sqft ∙ Built 2006 2 beds 3 baths ∙ 1,267 Sqft ∙ Built 2006
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.10
    •  
PROPERTY LISTING DETAILS
Sheila R Pennell
1.702.278.2280
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2242359
Last Updated: 11/02/2020
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