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700 Carnegie Street #4113 # 4113 Henderson, NV 89052

2 Beds 2 Baths 1,156 sqft Built 2002

INVESTimate

$215,000

List Price

$1,360

$1,224 - $1,496

Rent Est.

$234,974  ( +9.29%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $185.99
  • 7 Days on Market
  • MLS # : 2223733
  • Updated Date : 08/20/2020 at 20:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,156 sqft
  • Baths : 2 full
Listing Agent

Rooftop Realty

Listing Agent's Description

INVESTORS DREAM!! LOCATION!!! Excellent FIRST FLOOR unit in an extremely desirable Henderson neighborhood..High Ceilings..Upgraded with granite and Real Hardwood in Kitchen...Covered Patio...Master has Huge Walk In closet...Community boasts two pools, lots of extra parking, and a recreation room (kitchen, pool table, workout room).. All appliances included!

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: MacDonald Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k362k

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

Neighborhood: MacDonald Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200230024002500Rent in $10802532

* 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
Glen C. Taylor Elementary School Primary Regular 961 46 9
Bob Miller Middle School Middle Regular 1,600 59 NA
Coronado High School High Regular 3,240 124 10

Glen C. Taylor Elementary School

  • Education Level: Primary
  • # of students: 961
  • # of teachers: 46
9
GreatSchools Rating

Bob Miller Middle School

  • Education Level: Middle
  • # of students: 1,600
  • # of teachers: 59
NA
GreatSchools Rating

Coronado High School

  • Education Level: High
  • # of students: 3,240
  • # of teachers: 124
10
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$793
Property Tax -$119
Property Insurance -$50
HOA -$167
Property Management Fees -$119
CASH FLOW
$112

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.

$215,000

PROJECTED PRICE

$1,360

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.29%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$27,193

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $1,441

    COMP ESTIMATED VALUE
  • $1.25

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,3503$1,3604$1,400
$1,400
RENT COMPS ANALYSIS
  • 700 Carnegie Street #4113 Henderson, NV 3
    • 2 beds 2 baths ∙ 1,156 Sqft ∙ Built 2002 2 beds 2 baths ∙ 1,156 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $1.18
    •  
  • 700 Carnegie Street #1024 Henderson, NV 1
    • 2 beds 2 baths ∙ 1,042 Sqft ∙ Built 2001 2 beds 2 baths ∙ 1,042 Sqft ∙ Built 2001
    property image
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $1.10
    •  
  • 2305 Horizon Ridge Parkway #821 Henderson, NV 2
    • 2 beds 2 baths ∙ 1,054 Sqft ∙ Built 2004 2 beds 2 baths ∙ 1,054 Sqft ∙ Built 2004
    property image
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.28
    •  
  • 830 Carnegie Street #224 Henderson, NV 4
    • 2 beds 2 baths ∙ 1,033 Sqft ∙ Built 2003 2 beds 2 baths ∙ 1,033 Sqft ∙ Built 2003
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.36
    •  
PROPERTY LISTING DETAILS
John K Hilyard
1.702.427.6022
Rooftop Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223733
Last Updated: 08/20/2020
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