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6233 Ordaz Avenue #102 # 102 Henderson, NV 89011

2 Beds 2 Baths 1,417 sqft Built 2001

INVESTimate

$240,000

List Price

$1,230

$1,107 - $1,353

Rent Est.

$264,504  ( +10.21%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $169.37
  • 3 Days on Market
  • MLS # : 2222528
  • Updated Date : 08/25/2020 at 07:33
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,417 sqft
  • Baths : 2 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

LUXURY ON A BUDGET! 2 story townhouse in the heart of Henderson. Conveniently located near freeway access and nearby shopping. Highly upgraded 2 bedrooms 3 bath, two car garage, gated community with pool-spa, playground and guest parking. Featuring high quality tile flooring throughout first floor, hallway and all bathrooms, extended granite countertops in the kitchen and all bathrooms, with added cabinets in the kitchen, the master has a large walk-in closet and double sink… patio with a mature tree and shrubs in the backyard…the list goes-on. Appliances to be conveyed in “as-is” condition.

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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

Zip Code: 89011

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $121k340k

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

Zip Code: 89011

ZipNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10771825

* 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
Basic High School High Regular 2,367 100 3

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

Basic High School

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

$216,000$264,000$240,000

PURCHASE PRICE

$1,107$1,353$1,230

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,230
EXPENSES Loan Payment -$886
Property Tax -$139
Property Insurance -$55
HOA -$82
Property Management Fees -$119
CASH FLOW
-$50

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.

$240,000

PROJECTED PRICE

$1,230

PROJECTED RENT

0.51%

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$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$13,525

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,230

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,314

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,1753$1,2304$1,2955$1,300
$1,300
RENT COMPS ANALYSIS
  • 6233 Ordaz Avenue #102 Henderson, NV 3
    • 2 beds 4 baths ∙ 1,417 Sqft ∙ Built 2001 2 beds 4 baths ∙ 1,417 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,230
    • $0.87
    •  
  • 6233 Ordaz Avenue #101 Henderson, NV 1
    • 2 beds 2 baths ∙ 1,144 Sqft ∙ Built 2001 2 beds 2 baths ∙ 1,144 Sqft ∙ Built 2001
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.96
    •  
  • 833 Aspen Peak Loop #1126 Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,249 Sqft ∙ Built 2006 2 beds 2 baths ∙ 1,249 Sqft ∙ Built 2006
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $0.94
    •  
  • 6331 Lorne Green Avenue #102 Las Vegas, NV 4
    • 2 beds 3 baths ∙ 1,417 Sqft ∙ Built 2002 2 beds 3 baths ∙ 1,417 Sqft ∙ Built 2002
    LEASED 08/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.91
    •  
  • 6973 Graceful Cloud Avenue Henderson, NV 5
    • 2 beds 3 baths ∙ 1,452 Sqft ∙ Built 2006 2 beds 3 baths ∙ 1,452 Sqft ∙ Built 2006
    LEASED 09/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.90
    •  
PROPERTY LISTING DETAILS
Ben Mikael
1.702.203.7082
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222528
Last Updated: 08/25/2020
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