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715 Rusty Spur Drive Henderson, NV 89014

2 Beds 1 Baths 1,071 sqft Built 1989

$274,999

List Price

$1,110

$999 - $1.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $256.77
  • 8 Days on Market
  • MLS # : 2276728
  • Updated Date : 03/12/2021 at 23:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,071 sqft
  • Baths : 1 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

WELCOME TO THIS ADORABLE SINGLE STORY HOME IN THE HEART OF WHITNEY RANCH! THIS HOME FEATURES:2 BEDROOMS*1 FULL BATHROOM*2 CAR GARAGE*VAULTED CEILING*LAMINATE AND TILE FLOORING THROUGHOUT*LARGE LIVING ROOM*SEPERATE DINING AREA*ALL APPLIANCES INCLUDED*COVERED PATIO*LARGER SIZE BACKYARD WITH A SAND AREA WITH SUN SHADE*GREAT FOR ENTERTAINING*LOW MAINTENANCE LANDSCAPING*SOLAR PANELS TO SAVE YOU $$$ DURING THE HOT SUMMER MONTHS*HOME IS VERY CLOSE TO SHOPPING MALLS, RESTAURANTS, SCHOOLS AND EASY ACCESS TO I-95*GREAT STARTER HOME OR INVESTMENT PROPERTY!

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
 

$247,499$302,499$274,999

PURCHASE PRICE

$999$1,221$1,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,110
EXPENSES Loan Payment -$955
Property Tax -$137
Property Insurance -$48
Property Management Fees -$119
CASH FLOW
-$149

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.

$274,999

PROJECTED PRICE

$1,110

PROJECTED RENT

0.40%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,249
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$7,432

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,110

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,125

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,1103$1,1954$1,1955$1,250
$1,250
RENT COMPS ANALYSIS
  • 715 Rusty Spur Drive Henderson, NV 2
    • 2 beds 1 baths ∙ 1,071 Sqft ∙ Built 1989 2 beds 1 baths ∙ 1,071 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,110
    • $1.04
    •  
  • 1854 Scimitar Drive #0 Henderson, NV 1
    • 2 beds 2 baths ∙ 1,078 Sqft ∙ Built 1997 2 beds 2 baths ∙ 1,078 Sqft ∙ Built 1997
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $1.02
    •  
  • 855 Stephanie Street #2211 Henderson, NV 3
    • 2 beds 2 baths ∙ 1,135 Sqft ∙ Built 2001 2 beds 2 baths ∙ 1,135 Sqft ∙ Built 2001
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $1.05
    •  
  • 1543 Jenny Linn Drive #n/a Henderson, NV 4
    • 2 beds 2 baths ∙ 1,149 Sqft ∙ Built 1996 2 beds 2 baths ∙ 1,149 Sqft ∙ Built 1996
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $1.04
    •  
  • 363 Manti Place #- Henderson, NV 5
    • 2 beds 1 baths ∙ 1,149 Sqft ∙ Built 1996 2 beds 1 baths ∙ 1,149 Sqft ∙ Built 1996
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.09
    •  
PROPERTY LISTING DETAILS
Will Orellana
1.702.273.7551
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2276728
Last Updated: 03/12/2021
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