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585 Truffles Street Henderson, NV 89015

3 Beds 2 Baths 1,670 sqft Built 1986

$329,900

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $197.54
  • 2 Days on Market
  • MLS # : 2265012
  • Updated Date : 01/30/2021 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,670 sqft
  • Baths : 2 full
Listing Agent

Century 21 Gavish Real Estate

Listing Agent's Description

WELCOME HOME!*HARD TO FIND SINGLE STORY W/LG CONCRETED RV PARKING AREA & HUGE BACKYARD*LOCATED IN A BOUTIQUE CUSTOM HOME NEIGHBORHOOD THAT CONSIST OF ONLY 3 STREETS*NO HOA*CHARMING CURB APPEAL W/COLORFUL DESERT LANDSCAPE,FRONT PORCH & RUSTIC BRICK ACCENT ON FRONT*WROUGHT IRON RV GATES*OPEN CONCEPT GREATRM FLOORPLAN W/FIREPLACE & BAY WINDOW*KITCHEN HAS BREAKFAST BAR, WHITE CORIAN C-TOPS, GARDEN WINDOW OVER SINK, COOK TOP & B/I OVEN*FRENCH DOORS LEAD TO LG EXTENDED COVERED PATIO*SPACIOUS MASTER BEDRM W/MIRRORED CLOSET DOOR*MASTER BATH HAS SOAKING TUB W/JETS*NO CARPET-TILE OR LAMINATE WOOD TYPE FLOORING T/O*LG LAUNDRY/UTILITY ROOM*PRIVATE, MASSIVE BACK YARD IS BLOCK WALL FENCED W/PLENTY OF ROOM FOR A POOL OR SHOP*ROOF IS APPROX 2 YRS OLD

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$296,910$362,890$329,900

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,146
Property Tax -$153
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
$162

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.

$329,900

PROJECTED PRICE

$1,640

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.2%
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$93,174

INVESTMENT

$93,174

Down Payment
$82,475
Rehab Estimate
$5,750
Closing Costs
$4,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,475
Loan Amount $247,425
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$37,830

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,624

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5003$1,5504$1,6405$1,675
$1,675
RENT COMPS ANALYSIS
  • 585 Truffles Street Henderson, NV 4
    • 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.98
    •  
  • 555 Landra Henderson, NV 1
    • 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1996
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.94
    •  
  • 613 Fernbrook Drive Henderson, NV 2
    • 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1977
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.95
    •  
  • 718 Morrocco Drive Henderson, NV 3
    • 3 beds 1 baths ∙ 1,615 Sqft ∙ Built 1983 3 beds 1 baths ∙ 1,615 Sqft ∙ Built 1983
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.96
    •  
  • 611 Mosswood Drive Henderson, NV 5
    • 3 beds 1 baths ∙ 1,615 Sqft ∙ Built 1978 3 beds 1 baths ∙ 1,615 Sqft ∙ Built 1978
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.04
    •  
PROPERTY LISTING DETAILS
Brenda Bird-fairless
1.702.378.1689
Century 21 Gavish Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2265012
Last Updated: 01/30/2021
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