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710 Smokey Mountain Avenue Henderson, NV 89012

2 Beds 2 Baths 1,292 sqft Built 2002

$324,000

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $250.77
  • 3 Days on Market
  • MLS # : 2252311
  • Updated Date : 12/05/2020 at 17:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,292 sqft
  • Baths : 2 full
Listing Agent

Iproperties International

Listing Agent's Description

Beautiful Henderson 1 story home, 2 bedrooms (den can easily be converted back to 3rd bedroom), 2 bathrooms, 2 car garage. STUNNING MOUNTAIN VIEWS from front and back. Hardwood floors, stainless steel appliances, open floor plan with lots of light. New interior paint, AC 3 years old, clean and ready for move in! 2 neighborhood parks are walking distance, close to freeway, shopping and restaurants. Zoned for Newton Elementary, Mannion Middle School and Foothill High School.

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: McCullough Hills

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k366k

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

Neighborhood: McCullough Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10801914

* 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
Ulis Newton Elementary School Primary Regular 611 35 7
Jack And Terry Mannion Middle School Middle Regular 1,523 62 NA
Foothill High School High Regular 2,883 109 7

Ulis Newton Elementary School

  • Education Level: Primary
  • # of students: 611
  • # of teachers: 35
7
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
 

$291,600$356,400$324,000

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$1,195
Property Tax -$197
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
-$184

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.

$324,000

PROJECTED PRICE

$1,380

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.5%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,610

INVESTMENT

$91,610

Down Payment
$81,000
Rehab Estimate
$5,750
Closing Costs
$4,860

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,195

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,000
Loan Amount $243,000
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$10,699

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,389

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4003$1,4504$1,5005$1,595
$1,595
RENT COMPS ANALYSIS
  • 710 Smokey Mountain Avenue Henderson, NV 1
    • 2 beds 2 baths ∙ 1,292 Sqft ∙ Built 2002 2 beds 2 baths ∙ 1,292 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 737 Solitude Point Avenue Henderson, NV 2
    • 2 beds 3 baths ∙ 1,371 Sqft ∙ Built 2000 2 beds 3 baths ∙ 1,371 Sqft ∙ Built 2000
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.02
    •  
  • 227 Serenity Crest Street #0 Henderson, NV 3
    • 2 beds 3 baths ∙ 1,371 Sqft ∙ Built 2003 2 beds 3 baths ∙ 1,371 Sqft ∙ Built 2003
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.06
    •  
  • 233 Priority Point Street Henderson, NV 4
    • 2 beds 3 baths ∙ 1,371 Sqft ∙ Built 2004 2 beds 3 baths ∙ 1,371 Sqft ∙ Built 2004
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.09
    •  
  • 216 Abundance Ridge Street Henderson, NV 5
    • 2 beds 3 baths ∙ 1,406 Sqft ∙ Built 2002 2 beds 3 baths ∙ 1,406 Sqft ∙ Built 2002
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.13
    •  
PROPERTY LISTING DETAILS
Billie J Williams
1.702.526.4364
Iproperties International
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2252311
Last Updated: 12/05/2020
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