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616 Cadence Vista Drive Henderson, NV 89011

4 Beds 4 Baths 2,693 sqft Built 2019

$450,000

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $167.10
  • 6 Days on Market
  • MLS # : 2250451
  • Updated Date : 11/27/2020 at 02:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,693 sqft
  • Baths : 3 full , 1 half
Listing Agent

Realty Executives Southern

Listing Agent's Description

UPGRADED WOODSIDE BARCLAY MODEL IN CADENCE WITH DUAL MASTERS (ONE UP AND ONE DOWN). PRIMARY MASTER BEDROOM & BATH DOWNSTAIRS! Master Bath features double sinks, soaking tub and separate oversized shower. This spacious home features 4 Bedrooms, Den and Loft. Ceiling Fans throughout home. Large Great Room with 12 Ft Sliding Glass Doors which opens to a finished, landscaped backyard complete with Covered Patio, Pavers and Artificial Grass. Perfect for entertaining, this Chef's Kitchen showcases like a model home with an oversized island with granite countertops, with stainless steel sink and sensor faucet. Custom Kitchen Cabinets, Upgraded Backsplash, Double Ovens, Gas Cooktop and 'Top of the Line' Stainless Steel Appliances including Front loading washer-dryer combo. Recessed Lighting throughout. Upgraded Vinyl Plank flooring in all wet areas throughout the home, plush carpet in bedrooms. MOVE-IN READY! This home has it all. Make this your new home for the Holidays!

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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: Cadence

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k600k

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

Neighborhood: Cadence

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10801929

* 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
C.t. Sewell Elementary School Primary Regular 833 41 8
B. Mahlon Brown Junior High School Middle Regular 978 46 NA
Basic High School High Regular 2,367 100 3

C.t. Sewell Elementary School

  • Education Level: Primary
  • # of students: 833
  • # of teachers: 41
8
GreatSchools Rating

B. Mahlon Brown Junior High School

  • Education Level: Middle
  • # of students: 978
  • # of teachers: 46
NA
GreatSchools Rating

Basic High School

  • Education Level: High
  • # of students: 2,367
  • # of teachers: 100
3
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$1,660
Property Tax -$347
Property Insurance -$79
Property Management Fees -$119
CASH FLOW
$244

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 11% of earned rent to cover both maintenance and periods of vacancy.

$450,000

PROJECTED PRICE

$2,450

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.2%
Maintenance Year (1-5) 3.00%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$121,250

INVESTMENT

$121,250

Down Payment
$112,500
Rehab Estimate
$2,000
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

9.25

YEARS SAVED

$68,774

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,404

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,2953$2,3954$2,4505$2,465
$2,465
RENT COMPS ANALYSIS
  • 616 Cadence Vista Drive Henderson, NV 4
    • 4 beds 4 baths ∙ 2,693 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,693 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.91
    •  
  • 248 Kindly Way Henderson, NV 1
    • 4 beds 3 baths ∙ 2,514 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,514 Sqft ∙ Built 2018
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.87
    •  
  • 964 Via Columbo Street Henderson, NV 2
    • 3 beds 3 baths ∙ 2,585 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,585 Sqft ∙ Built 2010
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.89
    •  
  • 1108 Sunset Road Henderson, NV 3
    • 3 beds 3 baths ∙ 2,670 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,670 Sqft ∙ Built 2018
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.90
    •  
  • 322 Via Del Salvatore Henderson, NV 5
    • 4 beds 3 baths ∙ 2,703 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,703 Sqft ∙ Built 2018
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,465
    • $0.91
    •  
PROPERTY LISTING DETAILS
Zenaida J Hickey
1.702.797.0855
Realty Executives Southern
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2250451
Last Updated: 11/27/2020
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