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683 Baffin Island Road Henderson, NV 89011

3 Beds 3 Baths 1,748 sqft Built 2005

$275,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $157.32
  • 5 Days on Market
  • MLS # : 2258051
  • Updated Date : 01/01/2021 at 19:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,748 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty Expertise

Listing Agent's Description

MUST SEE!!! This amazing two story home has 3 FULL bedrooms, 2.5 baths, LOFT, and 2 car garage in HENDERSON! Ideal location in 89011 close to everything. Charming GATED community. The main floor has a spacious family room with FIREPLACE which opens up to kitchen and dining room. Kitchen has island and ALL APPLIANCES are INCLUDED. NEW gorgeous laminate wood flooring throughout most of the home! Upstairs you will find the 3 full bedrooms including a nice size MASTER SUITE with master bath and walk-in closet. Upstairs also includes a generous sized LOFT easily convertible to to a 4th bedroom if desired. Backyard has NO NEIGHBORS behind. Community park right across the way. The list goes on, THIS WON'T LAST!!!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Edna F. Hinman Elementary School Primary Regular 647 41 5
Lyal Burkholder Middle School Middle Regular 747 34 NA
Basic High School High Regular 2,367 100 3

Edna F. Hinman Elementary School

  • Education Level: Primary
  • # of students: 647
  • # of teachers: 41
5
GreatSchools Rating

Lyal Burkholder Middle School

  • Education Level: Middle
  • # of students: 747
  • # of teachers: 34
NA
GreatSchools Rating

Basic High School

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

$247,500$302,500$275,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$1,015
Property Tax -$197
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$189

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.

$275,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.0%
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$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$42,058

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,578

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5503$1,5804$1,6055$1,725
$1,725
RENT COMPS ANALYSIS
  • 683 Baffin Island Road Henderson, NV 3
    • 3 beds 3 baths ∙ 1,748 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,748 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.90
    •  
  • 679 Baffin Island Road Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,733 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,733 Sqft ∙ Built 2005
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.86
    •  
  • 733 Emerald Idol Place #0 Henderson, NV 2
    • 3 beds 3 baths ∙ 1,748 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,748 Sqft ∙ Built 2005
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.89
    •  
  • 720 Easter Lily Henderson, NV 4
    • 3 beds 3 baths ∙ 1,733 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,733 Sqft ∙ Built 2005
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,605
    • $0.93
    •  
  • 728 Easter Lily Place Henderson, NV 5
    • 3 beds 3 baths ∙ 1,849 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,849 Sqft ∙ Built 2005
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.93
    •  
PROPERTY LISTING DETAILS
Eddie Meese
1.702.217.8012
Realty Expertise
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2258051
Last Updated: 01/01/2021
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