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60 El Rio Court Henderson, NV 89012

4 Beds 2 Baths 2,162 sqft Built 2000

$424,999

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $196.58
  • 12 Days on Market
  • MLS # : 2261673
  • Updated Date : 01/23/2021 at 18:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,162 sqft
  • Baths : 2 full
Listing Agent

Dick Blair Realty

Listing Agent's Description

Original owner, well maintained "TURN KEY" home in desirable Henderson community with no HOA! This home features an open floor plan, 4 Bedrooms, 2 bathrooms, 3 car garage. Kitchen has large island with granite counter tops, pantry, and stainless steel appliances. Built in computer workstations perfect for office or school work. Hardwired security cameras inside and out with outside motion lights. Master bedroom has walk-in closet, walk-in shower and double sinks. Huge side yard for all your boat and RV storage needs. Spacious backyard with covered patio. THIS IS A MUST SEE!!!

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: McCullough Hills

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k366k

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

Neighborhood: McCullough Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10801914

* 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
Jack And Terry Mannion Middle School Middle Regular 1,523 62 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

Jack And Terry Mannion Middle School

  • Education Level: Middle
  • # of students: 1,523
  • # of teachers: 62
NA
GreatSchools Rating

Foothill High School

  • Education Level: High
  • # of students: 2,883
  • # of teachers: 109
7
GreatSchools Rating
 

$382,499$467,499$424,999

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,476
Property Tax -$248
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
-$122

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.

$424,999

PROJECTED PRICE

$1,790

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.5%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
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-$5.0k$0.0$5.0k$10k$15k

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$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,749
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$18,308

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,838

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7903$1,7954$1,8505$1,895
$1,895
RENT COMPS ANALYSIS
  • 60 El Rio Court Henderson, NV 2
    • 4 beds 2 baths ∙ 2,162 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,162 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.83
    •  
  • 85 Cabana Blanca Street Henderson, NV 1
    • 3 beds 3 baths ∙ 2,095 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,095 Sqft ∙ Built 2000
    property image
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.81
    •  
  • 98 Glendive Street Henderson, NV 3
    • 3 beds 2 baths ∙ 1,970 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,970 Sqft ∙ Built 2000
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.91
    •  
  • 95 Glendive Street #0 Henderson, NV 4
    • 4 beds 2 baths ∙ 2,303 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,303 Sqft ∙ Built 2002
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.80
    •  
  • 44 Vallejo Verde Henderson, NV 5
    • 4 beds 2 baths ∙ 2,162 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,162 Sqft ∙ Built 1999
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.88
    •  
PROPERTY LISTING DETAILS
April Jordan-brooks
1.702.303.8459
Dick Blair Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261673
Last Updated: 01/23/2021
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