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522 Grimsby Avenue Henderson, NV 89014

3 Beds 2 Baths 1,416 sqft Built 1982

$304,900

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $215.32
  • 3 Days on Market
  • MLS # : 2269737
  • Updated Date : 02/13/2021 at 18:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,416 sqft
  • Baths : 2 full
Listing Agent

Urban Nest Realty

Listing Agent's Description

BRAND NEW FROM THE GROUND UP!! Welcome home to this cozy house that features over 1400 of spacious living space. Kitchen features granite counters with "Eat-at-Bar" & white cabinets with lots of storage. Brand new SS appliances, and large pantry. Washer and dryer is included and brand new also! * New 14 S.E.E.R. "Energy Efficient" HVAC Unit * New "Energy Efficient" Windows * New garage door and opener * New 50 gallon water heater * New washer and dryer * New Water Softener and so much more! Bedrooms are airy and spacious. Don't miss this rare opportunity!

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: Whitney Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $110k340k

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

Neighborhood: Whitney Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10561825

* 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
Harriet Treem Elementary School Primary Regular 820 44 5
Francis Cortney Middle School Middle Regular 1,235 52 NA
Green Valley High School High Regular 3,092 122 9

Harriet Treem Elementary School

  • Education Level: Primary
  • # of students: 820
  • # of teachers: 44
5
GreatSchools Rating

Francis Cortney Middle School

  • Education Level: Middle
  • # of students: 1,235
  • # of teachers: 52
NA
GreatSchools Rating

Green Valley High School

  • Education Level: High
  • # of students: 3,092
  • # of teachers: 122
9
GreatSchools Rating
 

$274,410$335,390$304,900

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$1,059
Property Tax -$116
Property Insurance -$55
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.

$304,900

PROJECTED PRICE

$1,350

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,549

INVESTMENT

$86,549

Down Payment
$76,225
Rehab Estimate
$5,750
Closing Costs
$4,574

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,059

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,225
Loan Amount $228,675
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$20,897

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,480

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4003$1,4504$1,4505$1,550
$1,550
RENT COMPS ANALYSIS
  • 522 Grimsby Avenue Henderson, NV 1
    • 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.95
    •  
  • 600 Avon Henderson, NV 2
    • 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1990
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.12
    •  
  • 447 Mayan Drive Henderson, NV 3
    • 3 beds 2 baths ∙ 1,354 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,354 Sqft ∙ Built 1989
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.07
    •  
  • 531 Grimsby Avenue Henderson, NV 4
    • 3 beds 1 baths ∙ 1,416 Sqft ∙ Built 1982 3 beds 1 baths ∙ 1,416 Sqft ∙ Built 1982
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.02
    •  
  • 425 Raindance Drive Henderson, NV 5
    • 3 beds 3 baths ∙ 1,595 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,595 Sqft ∙ Built 1990
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.97
    •  
PROPERTY LISTING DETAILS
Lisa Willmett
1.702.217.3007
Urban Nest Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2269737
Last Updated: 02/13/2021
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