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736 Homewillow Avenue Las Vegas, NV 89123

3 Beds 2 Baths 1,601 sqft Built 2005

$319,900

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $199.81
  • 3 Days on Market
  • MLS # : 2255241
  • Updated Date : 12/12/2020 at 13:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,601 sqft
  • Baths : 2 full
Listing Agent

Sos Realty Group Llc

Listing Agent's Description

WELL CARED FOR CLEAN & NEUTRAL SINGLE STORY 3 BEDROOM & DEN IN A GREAT AREA CLOSE TO THE 215 & SOUTH STRIP AREA TOWN SQUARE & GREEN VALLY RANCH . BEAUTIFUL SHUTTERS COMPLIMENT THE SPACIOUS LIVING AREA AS WELL AS HIGH CEILINGS AND SOLAR SCREENS. ALL APPLIANCES STAY WITH THIS GREAT HOME .

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Silverado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k305k

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

Neighborhood: Silverado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
John R. Beatty Elementary School Primary Regular 601 29 8
Jack L. Schofield Middle School Middle Regular 1,332 51 NA
Silverado High School High Regular 2,263 94 5

John R. Beatty Elementary School

  • Education Level: Primary
  • # of students: 601
  • # of teachers: 29
8
GreatSchools Rating

Jack L. Schofield Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 51
NA
GreatSchools Rating

Silverado High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
5
GreatSchools Rating
 

$287,910$351,890$319,900

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$1,180
Property Tax -$212
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$10

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.

$319,900

PROJECTED PRICE

$1,580

PROJECTED RENT

0.49%

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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,180

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$26,342

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,585

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4953$1,5504$1,5805$1,695
$1,695
RENT COMPS ANALYSIS
  • 736 Homewillow Avenue Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,601 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,601 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.99
    •  
  • 923 Country Skies Avenue #0 Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,529 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,529 Sqft ∙ Built 1999
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.95
    •  
  • 9128 Quarrystone Way Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,427 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,427 Sqft ∙ Built 1998
    property image
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.05
    •  
  • 9340 Morehouse Place #0 Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1998
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.97
    •  
  • 9167 Cantana Street Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 2004
    property image
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.99
    •  
PROPERTY LISTING DETAILS
George J Braun
1.702.592.8992
Sos Realty Group Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2255241
Last Updated: 12/12/2020
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