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6233 Overhang Avenue Henderson, NV 89011

3 Beds 3 Baths 1,752 sqft Built 2001

$340,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $194.06
  • 7 Days on Market
  • MLS # : 2269928
  • Updated Date : 02/27/2021 at 03:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,752 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

Beautifully Updated Home Located in a Gated Community in the Heart of Henderson! Spacious Open Floor Plan Three bedroom & 2 1/2 bathrooms .Plus a DEN Perfect space for an office with double doors. Kitchen w/Island, Granite & Pantry. Extended Driveway 2 Car Garage Gated Community Features Playgrounds & Community Pool. This one won't last long! Hurry before it's too late!

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

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
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$1,181
Property Tax -$191
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
-$22

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.

$340,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.2%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$20,369

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,520

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,325
1$1,3252$1,3503$1,3754$1,3955$1,530
$1,530
RENT COMPS ANALYSIS
  • 6233 Overhang Avenue Henderson, NV 5
    • 3 beds 3 baths ∙ 1,752 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,752 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.87
    •  
  • 5960 Trickling Descent Street #103 Henderson, NV 1
    • 3 beds 3 baths ∙ 1,553 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,553 Sqft ∙ Built 2001
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.85
    •  
  • 6345 Rusticated Stone Avenue #103 Henderson, NV 2
    • 3 beds 3 baths ∙ 1,553 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,553 Sqft ∙ Built 2001
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.87
    •  
  • 6243 Ordaz Avenue #103 Henderson, NV 3
    • 3 beds 3 baths ∙ 1,610 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,610 Sqft ∙ Built 2001
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.85
    •  
  • 5984 Trickling Descent #103 Henderson, NV 4
    • 3 beds 3 baths ∙ 1,553 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,553 Sqft ∙ Built 2001
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.90
    •  
PROPERTY LISTING DETAILS
Nancy A Call
1.702.376.7455
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2269928
Last Updated: 02/27/2021
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