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493 Elm Hollow Court Henderson, NV 89012

2 Beds 2 Baths 1,802 sqft Built 1996

$409,900

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $227.47
  • 4 Days on Market
  • MLS # : 2270341
  • Updated Date : 02/19/2021 at 20:34
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,802 sqft
  • Baths : 2 full
Listing Agent

Homesmart Encore

Listing Agent's Description

POPULAR CINNABAR MODEL LOCATED ON OVERSIZED CUL-D-SAC LOT! TILED ENTRY LEADS TO THE NEW SCREENED DOUBLE DOORS . SPACIOUS PRIMARY BEDROOM WITH BAY WINDOW, DUAL SINKS, SEPARATE TUB & SHOWER & DOUBLE DOORS LEADING TO THE EXPANDED COVERED PATIO. KITCHEN WITH BREAKFAST BAR OPENS TO THE FAMILY ROOM WHICH ALSO LEADS TO THE BACKYARD WITH EXPANDED COVERED PATIO , MATURE & LOW MAINTENANCE LANDSCAPING, MOTION SENSOR LIGHTS. NEWLY REMODELED SECONDARY BATHROOM WITH OVERSIZED SHOWER. ATTACHED GARAGE WITH STORAGE AND KEYPAD ENTRY, CEILING FANS THROUGHOUT INCLUDING THE COVERED PATIO, EXTERIOR PAINTED IN 2020, SOLAR SCREENS, DEN CURRENTLY USED AS OFFICE WITH BUILT-INS AND MURPHY BED, AND MORE... PLUS ALL THE AMMENTIES SUN CITY MACDONALD RANCH HAS TO OFFER.

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: Sun City MacDonald Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k362k

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

Neighborhood: Sun City MacDonald Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10011875

* 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
John Vanderburg Elementary School Primary Regular 929 45 10
Bob Miller Middle School Middle Regular 1,600 59 NA
Coronado High School High Regular 3,240 124 10

John Vanderburg Elementary School

  • Education Level: Primary
  • # of students: 929
  • # of teachers: 45
10
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
 

$368,910$450,890$409,900

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,424
Property Tax -$231
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
-$115

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.

$409,900

PROJECTED PRICE

$1,720

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,374

INVESTMENT

$114,374

Down Payment
$102,475
Rehab Estimate
$5,750
Closing Costs
$6,149

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,424

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $102,475
Loan Amount $307,425
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$17,987

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,834

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,545
1$1,5452$1,6503$1,7204$1,7505$1,750
$1,750
RENT COMPS ANALYSIS
  • 493 Elm Hollow Court Henderson, NV 3
    • 2 beds 2 baths ∙ 1,802 Sqft ∙ Built 1996 2 beds 2 baths ∙ 1,802 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.95
    •  
  • 1853 Eagle Mesa Avenue Henderson, NV 1
    • 2 beds 2 baths ∙ 1,674 Sqft ∙ Built 2000 2 beds 2 baths ∙ 1,674 Sqft ∙ Built 2000
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.92
    •  
  • 2167 King Mesa Drive Henderson, NV 2
    • 2 beds 2 baths ∙ 1,564 Sqft ∙ Built 1999 2 beds 2 baths ∙ 1,564 Sqft ∙ Built 1999
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.05
    •  
  • 1800 Eagle Mesa Avenue Henderson, NV 4
    • 2 beds 2 baths ∙ 1,674 Sqft ∙ Built 2001 2 beds 2 baths ∙ 1,674 Sqft ∙ Built 2001
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.05
    •  
  • 1825 Tiger Creek Avenue Henderson, NV 5
    • 2 beds 2 baths ∙ 1,674 Sqft ∙ Built 2000 2 beds 2 baths ∙ 1,674 Sqft ∙ Built 2000
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.05
    •  
PROPERTY LISTING DETAILS
Hali Gillin
1.702.406.8730
Homesmart Encore
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2270341
Last Updated: 02/19/2021
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