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652 Calamus Palm Place Henderson, NV 89011

3 Beds 3 Baths 1,915 sqft Built 2008

INVESTimate

$339,995

List Price

$1,590

$1,431 - $1,749

Rent Est.

$373,859  ( +9.96%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2008
  • Price/Sqft : $177.54
  • 6 Days on Market
  • MLS # : 2224012
  • Updated Date : 08/25/2020 at 20:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,915 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Market Place

Listing Agent's Description

Well kept and amazing 2 story, 3 bedrooms 2.5 bath home located on a large corner lot on a cul de sac! Plenty of room for parking. Upgraded kitchen, granite countertops, laminate wood flooring throughout the entire first floor. Home features brand new exterior paint as well as a loft upstairs. Located within a gated with a community park and right across the street from Henderson Hospital and walking distance from Shopping and Cowabunga Bay Water Park. This beauty won't last!

SEE MORE

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: Midway

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $121k340k

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

Neighborhood: Midway

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9631825

* 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
 

$305,996$373,995$339,995

PURCHASE PRICE

$1,431$1,749$1,590

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$15k

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 $1,590
EXPENSES Loan Payment -$1,254
Property Tax -$229
Property Insurance -$64
HOA -$74
Property Management Fees -$119
CASH FLOW
-$150

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.

$339,995

PROJECTED PRICE

$1,590

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.96%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,849

INVESTMENT

$95,849

Down Payment
$84,999
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,999
Loan Amount $254,996
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$12,733

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,613

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5503$1,5904$1,6005$1,650
$1,650
RENT COMPS ANALYSIS
  • 652 Calamus Palm Place Henderson, NV 3
    • 3 beds 3 baths ∙ 1,915 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,915 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.83
    •  
  • 653 Calamus Palm Place Henderson, NV 1
    • 4 beds 3 baths ∙ 1,816 Sqft ∙ Built 2008 4 beds 3 baths ∙ 1,816 Sqft ∙ Built 2008
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.80
    •  
  • 616 Taliput Palm Place Henderson, NV 2
    • 3 beds 3 baths ∙ 1,892 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,892 Sqft ∙ Built 2014
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.82
    •  
  • 659 Calamus Palm Place Henderson, NV 4
    • 4 beds 3 baths ∙ 1,816 Sqft ∙ Built 2008 4 beds 3 baths ∙ 1,816 Sqft ∙ Built 2008
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.88
    •  
  • 662 Forest Peak Street Henderson, NV 5
    • 3 beds 3 baths ∙ 1,892 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,892 Sqft ∙ Built 2013
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.87
    •  
PROPERTY LISTING DETAILS
Renton D Yu
1.702.291.8010
Keller Williams Market Place
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224012
Last Updated: 08/25/2020
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