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75 Avenza Drive Henderson, NV 89011

2 Beds 2 Baths 1,360 sqft Built 2008

INVESTimate

$349,000

List Price

$1,670

$1,503 - $1,837

Rent Est.

$375,768  ( +7.67%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 2008
  • Price/Sqft : $256.62
  • 2 Days on Market
  • MLS # : 2224633
  • Updated Date : 08/25/2020 at 19:31
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,360 sqft
  • Baths : 2 full
Listing Agent

Re/max Advantage

Listing Agent's Description

WOW!! What a gorgeous renovation!! This home is situated in a gated neighborhood not too far off the entrance of Beautiful Lake Las Vegas! This home has Porcelain wood plank tile floors, modern tall baseboards, quartz counters in kitchen and wet bar area, single basin under-mount sink w/the coolest faucet, glass back splash, high quality white painted cabinetry, wet bar and peninsula painted a beautiful deep gray, designer paint throughout, beautiful wall of glass w/french doors that lead out to the lushly landscaped outdoor space, additional french doors off the den/dining room that lead to a secondary outdoor living space. The master suite is separate from the guest room, master bedroom has french doors to the beautiful back yard space, walk in closet, upgraded bathroom with separate shower & spa jet tub, Dbl. sinks & vanity area. The end of the cul-de-sac has a gate to a beautiful walking trail along a gorgeous green space and water area. Lake Las Vegas is just down the road!!

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MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Lake Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $123k449k

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

Neighborhood: Lake Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10803087

* 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
Josh Stevens Elementary School Primary Unknown NA
B. Mahlon Brown Junior High School Middle Regular 978 46 NA
Basic High School High Regular 2,367 100 3

Josh Stevens Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

B. Mahlon Brown Junior High School

  • Education Level: Middle
  • # of students: 978
  • # of teachers: 46
NA
GreatSchools Rating

Basic High School

  • Education Level: High
  • # of students: 2,367
  • # of teachers: 100
3
GreatSchools Rating
 

$314,100$383,900$349,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,288
Property Tax -$266
Property Insurance -$54
HOA -$135
Property Management Fees -$119
CASH FLOW
-$191

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.

$349,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.67%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,235

INVESTMENT

$98,235

Down Payment
$87,250
Rehab Estimate
$5,750
Closing Costs
$5,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,288

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,250
Loan Amount $261,750
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$10,010

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $1,639

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$1,670
1$1,6702$1,8503$1,975
$1,975
RENT COMPS ANALYSIS
  • 75 Avenza Drive Henderson, NV 1
    • 2 beds 2 baths ∙ 1,360 Sqft ∙ Built 2008 2 beds 2 baths ∙ 1,360 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $1.23
    •  
  • 20 Via Mantova #310 Henderson, NV 2
    • 2 beds 1 baths ∙ 1,503 Sqft ∙ Built 2006 2 beds 1 baths ∙ 1,503 Sqft ∙ Built 2006
    property image
    LEASED 08/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.23
    •  
  • 287 Via Della Fortuna Henderson, NV 3
    • 2 beds 2 baths ∙ 1,674 Sqft ∙ Built 2017 2 beds 2 baths ∙ 1,674 Sqft ∙ Built 2017
    property image
    LEASED 08/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.18
    •  
PROPERTY LISTING DETAILS
Tracy A Drown
1.702.245.9341
Re/max Advantage
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224633
Last Updated: 08/25/2020
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