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5613 Heinrick Court Las Vegas, NV 89118

3 Beds 3 Baths 1,727 sqft Built 2002

$385,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $222.93
  • 1 Days on Market
  • MLS # : 2313773
  • Updated Date : 07/13/2021 at 15:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,727 sqft
  • Baths : 2 full , 1 half
Listing Agent

Simply Vegas

Listing Agent's Description

LOCATION! LOCATION!! Well kept 2 story home located in a desirable Southwest location near the Raider Stadium. Corner lot in cul-de-sac. Desert landscape for easy maintenance. Huge backyard with tons of potential. This home has it all. 3 bedrooms, 2.5 baths, 2 car garage, formal living room, family room, formal dining room, open kitchen with pantry, laundry room conveniently located upstairs, master bedroom has surround sound with walk in closet and surround sound wiring for the rest of the house. Super convenient location with easy access to freeways, shopping, dinning, entertainment and The Strip.

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: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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
Helen Jydstrup Elementary School Primary Regular 765 32 5
Grant Sawyer Middle School Middle Regular 1,308 52 NA
Durango High School High Regular 2,302 95 5

Helen Jydstrup Elementary School

  • Education Level: Primary
  • # of students: 765
  • # of teachers: 32
5
GreatSchools Rating

Grant Sawyer Middle School

  • Education Level: Middle
  • # of students: 1,308
  • # of teachers: 52
NA
GreatSchools Rating

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$346,500$423,500$385,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,337
Property Tax -$205
Property Insurance -$61
HOA -$13
Property Management Fees -$119
CASH FLOW
$65

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.

$385,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.9%
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$1.4M

PROJECTED ANNUAL CASH FLOW

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

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$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,337

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$31,234

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,809

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6953$1,8004$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 5613 Heinrick Court Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,727 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,727 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.04
    •  
  • 5506 Zachary Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,602 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,602 Sqft ∙ Built 2002
    property image
    LEASED 05/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
  • 5971 West Dewey Drive Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,608 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,608 Sqft ∙ Built 2007
    property image
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.05
    •  
  • 5386 Walcott Drive Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,727 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,727 Sqft ∙ Built 2001
    property image
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.04
    •  
  • 5317 Silver Branch Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,722 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,722 Sqft ∙ Built 2020
    property image
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.07
    •  
PROPERTY LISTING DETAILS
Payge Avery
1.702.494.9194
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2313773
Last Updated: 07/13/2021
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