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704 Rosewater Drive Henderson, NV 89011

3 Beds 2 Baths 1,949 sqft Built 2019

$469,000

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $240.64
  • 3 Days on Market
  • MLS # : 2278030
  • Updated Date : 03/20/2021 at 02:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,949 sqft
  • Baths : 2 full
Listing Agent

Re/max Advantage

Listing Agent's Description

Absolutely stunning single story nearly NEW home in Henderson's popular Cadence community. Located in 55+ guard gated Heritage. Features tile floors through most of the house and carpet in bedrooms. Enjoy a huge island kitchen with granite counters, breakfast bar, and upgraded cabinets and appliances! Primary bedroom features exterior entry and a huge bathroom and walk-in closet (which connects directly to your laundry room)! Third bedroom can easily be used as a den or office. Includes a bonus lounge area for additional space. Water softener system included. Spacious backyard with no neighbors behind, artificial turf, covered patio and plenty of space! Clubhouse filled with amenities such as fitness center, cafe, pools, and tennis courts (contact HOA about availability of amenities)!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Heritage at Cadence

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $121k340k

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

Neighborhood: Heritage at Cadence

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10801825

* 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
C.t. Sewell Elementary School Primary Regular 833 41 8
B. Mahlon Brown Junior High School Middle Regular 978 46 NA
Basic High School High Regular 2,367 100 3

C.t. Sewell Elementary School

  • Education Level: Primary
  • # of students: 833
  • # of teachers: 41
8
GreatSchools Rating

B. Mahlon Brown Junior High School

  • Education Level: Middle
  • # of students: 978
  • # of teachers: 46
NA
GreatSchools Rating

Basic High School

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

$422,100$515,900$469,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,629
Property Tax -$330
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
-$363

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.

$469,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.2%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,035

INVESTMENT

$130,035

Down Payment
$117,250
Rehab Estimate
$5,750
Closing Costs
$7,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,629

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $117,250
Loan Amount $351,750
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$5,610

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,046

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,780
1$1,7802$1,8003$2,1004$2,1005$2,200
$2,200
RENT COMPS ANALYSIS
  • 704 Rosewater Drive Henderson, NV 1
    • 3 beds 2 baths ∙ 1,949 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,949 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.91
    •  
  • 1025 Viale Placenza Place #0 Henderson, NV 2
    • 4 beds 3 baths ∙ 1,781 Sqft ∙ Built 2009 4 beds 3 baths ∙ 1,781 Sqft ∙ Built 2009
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.01
    •  
  • 1029 Via Prato Henderson, NV 3
    • 3 beds 3 baths ∙ 1,931 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,931 Sqft ∙ Built 2019
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.09
    •  
  • 483 Fortissimo Street Henderson, NV 4
    • 4 beds 3 baths ∙ 2,030 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,030 Sqft ∙ Built 2016
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.03
    •  
  • 517 Cadence View Way Henderson, NV 5
    • 3 beds 2 baths ∙ 2,048 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,048 Sqft ∙ Built 2016
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.07
    •  
PROPERTY LISTING DETAILS
Kyle B Cunningham
1.702.823.0840
Re/max Advantage
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2278030
Last Updated: 03/20/2021
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