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596 Marlberry Place Henderson, NV 89015

3 Beds 2 Baths 1,874 sqft Built 2004

INVESTimate

$349,999

List Price

$1,480

$1,332 - $1,628

Rent Est.

$385,734  ( +10.21%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $186.77
  • 2 Days on Market
  • MLS # : 2224697
  • Updated Date : 08/25/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,874 sqft
  • Baths : 1 full , 1 half
Listing Agent

Re/max Reliance

Listing Agent's Description

Real nice two story home located in Henderson with over 1800sq ft, 3 bedrooms, two and half bath, Ceramic tile flooring throughout the downstairs. Den can be converted to a 4th bedroom. Kitchen has all new appliances. Recessed lighting, laminate counter with lots of space and opens to the family area. Upstairs has all laminate wood flooring with a nice size loft. Master bedroom has vaulted ceilings with great views. Master bath has shower only, double sink and make up table. Seller has over $15,000 in upgrades. New A/C unit with savings on a/c bill. New furnace, upstairs flooring, freshly painted outside of house. French double doors walks out to the backyard with no rear neighbors.

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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: 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
Gordon Mccaw Steam Academy Primary Regular 504 32 10
Lyal Burkholder Middle School Middle Regular 747 34 NA
Foothill High School High Regular 2,883 109 7

Gordon Mccaw Steam Academy

  • Education Level: Primary
  • # of students: 504
  • # of teachers: 32
10
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
 

$314,999$384,999$349,999

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

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-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$1,291
Property Tax -$210
Property Insurance -$63
HOA -$55
Property Management Fees -$119
CASH FLOW
-$259

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.

$349,999

PROJECTED PRICE

$1,480

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.21%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,499
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$6,681

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,598

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,445
1$1,4452$1,4803$1,5504$1,6505$1,700
$1,700
RENT COMPS ANALYSIS
  • 596 Marlberry Place Henderson, NV 2
    • 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.79
    •  
  • 668 Dancing Sage Court Henderson, NV 1
    • 3 beds 3 baths ∙ 1,816 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,816 Sqft ∙ Built 2004
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.80
    •  
  • 686 Fragrant Sage Court Henderson, NV 3
    • 3 beds 3 baths ∙ 1,874 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,874 Sqft ∙ Built 2004
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.83
    •  
  • 623 Marlberry Place Henderson, NV 4
    • 4 beds 3 baths ∙ 1,874 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,874 Sqft ∙ Built 2004
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 488 Blushing Maple Street Henderson, NV 5
    • 4 beds 2 baths ∙ 1,890 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,890 Sqft ∙ Built 2004
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.90
    •  
PROPERTY LISTING DETAILS
Robert Ratliff
1.702.807.5528
Re/max Reliance
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224697
Last Updated: 08/25/2020
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