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686 Tidal Flats Street Henderson, NV 89002

4 Beds 4 Baths 2,912 sqft Built 2016

$485,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $166.55
  • 10 Days on Market
  • MLS # : 2262730
  • Updated Date : 01/29/2021 at 08:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,912 sqft
  • Baths : 3 full , 1 half
Listing Agent

Exit Realty Number One

Listing Agent's Description

Look no further! This home is a limited edition model with your name all over it. Located in a tranquil subdivision with upgrades galore including cabinets, countertops and flooring. Large open floor plan boasts lots of family space. Downstairs bedroom could be used as an office or den. This house sits on a corner lot with a blank slate back yard which is big enough for a pool and a nice sized yard so bring your imagination and make it yours. Just off Boulder Highway close to schools, shopping and entertainment. Solar panels, Ring doorbell and water softener included.

SEE MORE

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: Highland Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $117k340k

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

Neighborhood: Highland Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9181825

* 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
Fay Galloway Elementary School Primary Regular 691 36 6
Jack And Terry Mannion Middle School Middle Regular 1,523 62 NA
Foothill High School High Regular 2,883 109 7

Fay Galloway Elementary School

  • Education Level: Primary
  • # of students: 691
  • # of teachers: 36
6
GreatSchools Rating

Jack And Terry Mannion Middle School

  • Education Level: Middle
  • # of students: 1,523
  • # of teachers: 62
NA
GreatSchools Rating

Foothill High School

  • Education Level: High
  • # of students: 2,883
  • # of teachers: 109
7
GreatSchools Rating
 

$436,500$533,500$485,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,685
Property Tax -$337
Property Insurance -$84
Property Management Fees -$119
CASH FLOW
-$224

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.

$485,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.2%
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$1.4M$1.6M$1.8M

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$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$134,275

INVESTMENT

$134,275

Down Payment
$121,250
Rehab Estimate
$5,750
Closing Costs
$7,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,685

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $121,250
Loan Amount $363,750
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$13,811

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,184

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0003$2,1004$2,1505$2,300
$2,300
RENT COMPS ANALYSIS
  • 686 Tidal Flats Street Henderson, NV 2
    • 4 beds 4 baths ∙ 2,912 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,912 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.69
    •  
  • 905 Spiracle Avenue Henderson, NV 1
    • 4 beds 4 baths ∙ 2,617 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,617 Sqft ∙ Built 2016
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.76
    •  
  • 942 Saddle Horn Drive Henderson, NV 3
    • 4 beds 3 baths ∙ 2,722 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,722 Sqft ∙ Built 1999
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.77
    •  
  • 705 Gulf Pearl Drive Henderson, NV 4
    • 5 beds 4 baths ∙ 3,055 Sqft ∙ Built 2015 5 beds 4 baths ∙ 3,055 Sqft ∙ Built 2015
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.70
    •  
  • 2233 Mundare Drive Henderson, NV 5
    • 5 beds 3 baths ∙ 2,988 Sqft ∙ Built 2017 5 beds 3 baths ∙ 2,988 Sqft ∙ Built 2017
    LEASED 01/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.77
    •  
PROPERTY LISTING DETAILS
Katherine Rice
1.702.278.7520
Exit Realty Number One
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2262730
Last Updated: 01/29/2021
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