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705 Flowing Meadow Drive Henderson, NV 89014

4 Beds 3 Baths 2,632 sqft Built 2013

$505,000

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $191.87
  • 8 Days on Market
  • MLS # : 2259729
  • Updated Date : 01/10/2021 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,632 sqft
  • Baths : 3 full
Listing Agent

Love Local Real Estate

Listing Agent's Description

Pride in Ownership! This 4 bedroom home with office and open floor plan has plenty of space....closet's have organizers installed in bedrooms. The backyard boasts a sunken fire pit with plenty of room, 4 person hot tub that works and mature/park like landscaping. Security system conveys along with appliances. MUST SEE!!! Won't last long.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Whitney Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $110k340k

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

Neighborhood: Whitney Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10561825

* 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
Harriet Treem Elementary School Primary Regular 820 44 5
Francis Cortney Middle School Middle Regular 1,235 52 NA
Green Valley High School High Regular 3,092 122 9

Harriet Treem Elementary School

  • Education Level: Primary
  • # of students: 820
  • # of teachers: 44
5
GreatSchools Rating

Francis Cortney Middle School

  • Education Level: Middle
  • # of students: 1,235
  • # of teachers: 52
NA
GreatSchools Rating

Green Valley High School

  • Education Level: High
  • # of students: 3,092
  • # of teachers: 122
9
GreatSchools Rating
 

$454,500$555,500$505,000

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,754
Property Tax -$342
Property Insurance -$78
Property Management Fees -$119
CASH FLOW
-$93

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.

$505,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.1%
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$20k

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$139,575

INVESTMENT

$139,575

Down Payment
$126,250
Rehab Estimate
$5,750
Closing Costs
$7,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,754

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $126,250
Loan Amount $378,750
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$24,422

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,303

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,2003$2,3004$2,3005$2,500
$2,500
RENT COMPS ANALYSIS
  • 705 Flowing Meadow Drive Henderson, NV 2
    • 4 beds 3 baths ∙ 2,632 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,632 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.84
    •  
  • 1692 Butterfly Ridge Avenue Henderson, NV 1
    • 4 beds 3 baths ∙ 2,433 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,433 Sqft ∙ Built 2013
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.82
    •  
  • 902 Squaw Peak Drive #0 Henderson, NV 3
    • 5 beds 2 baths ∙ 2,882 Sqft ∙ Built 1993 5 beds 2 baths ∙ 2,882 Sqft ∙ Built 1993
    LEASED 08/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.80
    •  
  • 1626 Sedona Cliffs Avenue Henderson, NV 4
    • 3 beds 3 baths ∙ 2,577 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,577 Sqft ∙ Built 2015
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.89
    •  
  • 1638 Singing Sands Henderson, NV 5
    • 3 beds 3 baths ∙ 2,535 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,535 Sqft ∙ Built 2015
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.99
    •  
PROPERTY LISTING DETAILS
Tamra Vannucci
1.702.239.0462
Love Local Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2259729
Last Updated: 01/10/2021
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