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PROPERTY INFO
FACTS
- Single Family
- Built In 1997
- Price/Sqft : $187.25
- 6 Days on Market
- MLS # : 2271305
- Updated Date : 02/20/2021 at 17:02
CONSTRUCTION
- Beds : 3
- Floor Size : 2,243 sqft
- Baths : 2 full
Listing Agent
Keller Williams Market Place
Listing Agent's Description
Beautiful Palm Hills guard gated community in Henderson. Single story 3 bedroom 2 bath 3 car garage, open floor plan, updated kitchen and bathrooms, landscaped backyard with water feature and gazebo. Seller will be installing a new main garage door and opener. Built in shelving garage. 18" tile throughout home and carpeted bedrooms. Floor to ceiling subway tile in master and 2nd showers. Upgraded cabinets throughout home with soft closing mechanisms. Granite counters throughout home including bathrooms. Gas fireplace in great room.
SEE MORE
- 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: Paradise Hills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Paradise Hills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,810 |
| EXPENSES | Loan Payment | -$1,459 |
| Property Tax | -$260 | |
| Property Insurance | -$71 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$99
|
||
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.
$420,000
PROJECTED PRICE
$1,810
PROJECTED RENT
0.43%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.05% |
| Appreciation Year (1-5) | 9.2% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.57% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$117,050
LOAN DETAILS
$1,459
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $105,000 |
| Loan Amount | $315,000 |
4.58
YEARS SAVED
$19,595
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,810
LIST RENT -
$0.81
LIST RENT PER SQFT
-
$1,918
COMP ESTIMATED VALUE -
$0.86
COMP AVG. RENT PER SQFT
Comps Range
-
740 Descartes Avenue Henderson, NV 4
- 3 beds 2 baths ∙ 2,243 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,243 Sqft ∙ Built 1997
- Rent
- Rent Per SQFT
- $1,810
- $0.81
-
624 Monument Point Street Henderson, NV 1
- 3 beds 3 baths ∙ 2,052 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,052 Sqft ∙ Built 2004
LEASED 11/23/20- Rent
- Rent Per SQFT
- $1,750
- $0.85
-
158 Cloud Cover Avenue Henderson, NV 2
- 3 beds 3 baths ∙ 2,053 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,053 Sqft ∙ Built 2006
LEASED 02/05/21- Rent
- Rent Per SQFT
- $1,750
- $0.85
-
254 Patti Ann Woods Drive Henderson, NV 3
- 3 beds 3 baths ∙ 2,197 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,197 Sqft ∙ Built 2002
LEASED 02/25/20- Rent
- Rent Per SQFT
- $1,795
- $0.82
-
82 Rattlesnake Grass Court Henderson, NV 5
- 4 beds 3 baths ∙ 2,346 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,346 Sqft ∙ Built 2005
LEASED 08/14/20- Rent
- Rent Per SQFT
- $2,100
- $0.90
PROPERTY LISTING DETAILS
1.702.306.2773
Keller Williams Market Place
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2271305
Last Updated: 02/20/2021
