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586 Chelsea Drive Henderson, NV 89014

4 Beds 1 Baths 1,915 sqft Built 1979

$394,999

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $206.27
  • 4 Days on Market
  • MLS # : 2279673
  • Updated Date : 03/20/2021 at 01:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,915 sqft
  • Baths : 1 full
Listing Agent

Blue Diamond Realty Llc

Listing Agent's Description

IMMACULATELY RENOVATED 4 bed 2 bath single story home in Henderson! FIND THIS BEAUTIFUL PROPERTY WITH A PRIVATE YARD COMPLETELY REHABBED WITH UP TO DATE DESIGNER FLOORING THROUGH OUT THE HOME, PAINT, CABINETS AND COUNTER SELECTIONS. Spacious kitchen outfitted with brand new Stainless Steel appliances, Quartz counter tops, custom back splash, White shaker cabinets. Sunken Living room with gorgeous 2-way gas fireplace and track lighting. Both bathrooms upgraded with new cabinets, tile selections and designer faucets, sinks. All new, cabinets, base moulding, plumbing & electrical fixtures and MORE!!! Large backyard. You will fall in love!

SEE MORE

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: 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
 

$355,499$434,499$394,999

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,372
Property Tax -$152
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
$3

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.

$394,999

PROJECTED PRICE

$1,710

PROJECTED RENT

0.43%

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$1.4M$1.6M

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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,372

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,750
Loan Amount $296,249
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$27,126

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,810

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7103$1,8004$1,9005$1,950
$1,950
RENT COMPS ANALYSIS
  • 586 Chelsea Drive Henderson, NV 2
    • 4 beds 1 baths ∙ 1,915 Sqft ∙ Built 1979 4 beds 1 baths ∙ 1,915 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.89
    •  
  • 1464 Harmony Hill Drive Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,943 Sqft ∙ Built 1989 4 beds 2 baths ∙ 1,943 Sqft ∙ Built 1989
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.87
    •  
  • 816 Stillwater Lane Henderson, NV 3
    • 3 beds 2 baths ∙ 1,942 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,942 Sqft ∙ Built 1990
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.93
    •  
  • 770 Panhandle Drive Henderson, NV 4
    • 4 beds 1 baths ∙ 1,943 Sqft ∙ Built 1988 4 beds 1 baths ∙ 1,943 Sqft ∙ Built 1988
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.98
    •  
  • 1405 Rim Fire Circle Henderson, NV 5
    • 4 beds 2 baths ∙ 1,943 Sqft ∙ Built 1989 4 beds 2 baths ∙ 1,943 Sqft ∙ Built 1989
    LEASED 02/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.00
    •  
PROPERTY LISTING DETAILS
Angel Flores
1.702.419.9184
Blue Diamond Realty Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2279673
Last Updated: 03/20/2021
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