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730 Rusty Spur Drive Henderson, NV 89014

4 Beds 2 Baths 1,943 sqft Built 1989

$429,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $220.79
  • 2 Days on Market
  • MLS # : 2252002
  • Updated Date : 12/05/2020 at 12:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,943 sqft
  • Baths : 2 full
Listing Agent

Platinum R.e. Professionals

Listing Agent's Description

WHOA NELLY WE HAVE UNICORN! HENDERSON HOME RV PARKING AND POOL UNDER 450k! THESE HOMES ARE BECOMING EXTINCT! THOUSANDS IN RECENT UPGRADES INCLUDING NEW WINDOWS! Beautiful entry way leads you to nice open floor plan with high ceilings. This leads you to gourmet like kitchen with stunning granite that overlooks the entertainment room. Take a stroll out back to your magazine back yard, create your own min park with sparkling pool, fruit trees and area for organic garden. The second floor boast of huge penthouse like master with spa like master bathroom. Large secondary bedrooms plus bonus room on 1st floor perfect next gen home! A CALIFORNIA EXODUS FAVORITE! BEST IN CLASS DONT DELAY ACT TODAY!

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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: 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
 

$386,100$471,900$429,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,583
Property Tax -$200
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
-$337

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.

$429,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,435

INVESTMENT

$119,435

Down Payment
$107,250
Rehab Estimate
$5,750
Closing Costs
$6,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,583

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,250
Loan Amount $321,750
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$7,906

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,681

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,545
1$1,5452$1,6303$1,6954$1,6955$1,795
$1,795
RENT COMPS ANALYSIS
  • 730 Rusty Spur Drive Henderson, NV 2
    • 4 beds 2 baths ∙ 1,943 Sqft ∙ Built 1989 4 beds 2 baths ∙ 1,943 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.84
    •  
  • 800 Long Branch Drive Henderson, NV 1
    • 3 beds 2 baths ∙ 1,942 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,942 Sqft ∙ Built 1989
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.80
    •  
  • 762 Butternut Court Henderson, NV 3
    • 4 beds 3 baths ∙ 1,943 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,943 Sqft ∙ Built 1988
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.87
    •  
  • 1464 Harmony Hill Drive Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,943 Sqft ∙ Built 1989 4 beds 2 baths ∙ 1,943 Sqft ∙ Built 1989
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.87
    •  
  • 1415 Harmony Hill Drive Henderson, NV 5
    • 4 beds 2 baths ∙ 1,943 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,943 Sqft ∙ Built 1988
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.92
    •  
PROPERTY LISTING DETAILS
Steve P Hawks
1.702.617.4637
Platinum R.e. Professionals
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2252002
Last Updated: 12/05/2020
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