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699 Blue Barrel Street Henderson, NV 89011

3 Beds 3 Baths 1,976 sqft Built 2007

INVESTimate

$332,000

List Price

$1,500

$1,350 - $1,650

Rent Est.

$365,067  ( +9.96%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $168.02
  • 5 Days on Market
  • MLS # : 2224211
  • Updated Date : 08/22/2020 at 17:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,976 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Tall and open 3 bedroom, 2.5 bathroom located at the mouth of a cul de sac in Desert Canyon. Synth grass in front with a backyard ready for your personal touch. Entrance to the house has vaulted ceilings with high ceilings throughout. Kitchen has SS appliances, an island, eating area, large sink, and lots of storage. Washer and Dryer have their own laundry room next to garage. All bedrooms located up stairs. Master bedroom has connection to toilet closet, bathroom, and walk-in closet, as well as it's own private balcony with partial Las Vegas strip views!

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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

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
 

$298,800$365,200$332,000

PURCHASE PRICE

$1,350$1,650$1,500

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-$6.0k-$4.0k-$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$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,225
Property Tax -$244
Property Insurance -$65
HOA -$56
Property Management Fees -$119
CASH FLOW
-$209

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.

$332,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.45%

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$93,730

INVESTMENT

$93,730

Down Payment
$83,000
Rehab Estimate
$5,750
Closing Costs
$4,980

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,225

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,000
Loan Amount $249,000
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$8,024

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,586

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4503$1,5004$1,5505$1,595
$1,595
RENT COMPS ANALYSIS
  • 699 Blue Barrel Street Henderson, NV 3
    • 3 beds 3 baths ∙ 1,976 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,976 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.76
    •  
  • 723 Emerald Idol Place Henderson, NV 1
    • 3 beds 3 baths ∙ 1,909 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,909 Sqft ∙ Built 2005
    LEASED 10/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.76
    •  
  • 653 Calamus Palm Place Henderson, NV 2
    • 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
    •  
  • 729 Easter Lily Place Henderson, NV 4
    • 4 beds 3 baths ∙ 1,849 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,849 Sqft ∙ Built 2005
    LEASED 10/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.84
    •  
  • 735 Irish Mittens Court Henderson, NV 5
    • 3 beds 3 baths ∙ 1,976 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,976 Sqft ∙ Built 2005
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.81
    •  
PROPERTY LISTING DETAILS
Andrew J Kosloske
1.702.488.2251
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224211
Last Updated: 08/22/2020
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