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752 Descartes Avenue Henderson, NV 89002

5 Beds 4 Baths 3,429 sqft Built 1997

INVESTimate

$485,000

List Price

$2,310

$2,079 - $2,541

Rent Est.

$529,717  ( +9.22%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $141.44
  • 2 Days on Market
  • MLS # : 2224708
  • Updated Date : 08/25/2020 at 17:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,429 sqft
  • Baths : 3 full , 1 half
Listing Agent

The Baird Group, Llc

Listing Agent's Description

BEAUTIFUL 5 BEDROOM 4 BATH HOME WITH POOL AND MANY UPGRADES IN HIGHLY SOUGHT AFTER GUARD GATED PALM HILLS COMMUNITY! DOUBLE DOOR ENTRANCE INTO SPACIOUS LIVING ROOM/FORMAL DINING ROOM WITH VAULTED CEILINGS AND GAS FIREPLACE. UPGRADED DESIGNER CERAMIC TILE AND WOOD LAMINATE FLOORING; KITCHEN FEATURES: CUSTOMIZED WHITE CABINETS WITH HARDWARE; GRANITE COUNTER TOPS; FULL QUARTZ BACK SPLASH; STAINLESS STEEL APPLIANCES; ISLAND BAR; AND BREAKFAST BAR;NICE PANTRY; SEPARATE FAMILY ROOM OFF KITCHEN; HUGE MASTER SUITE DOWNSTAIRS WITH ACCESS TO BACKYARD AND POOL. DUAL VANITY WITH MAKE UP COUNTER; JETTED TUB AND SEPARATE SHOWER; WALK IN CLOSET; 4 LARGE BEDROOMS WITH BATH ACCESS AND FAMILY ROOM LOFT UPSTAIRS. LAUNDRY ROOM WITH CABINETS/STORAGE.3 CAR GARAGE. NICE POOL WITH PRIVATE BACK YARD.

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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: Paradise Hills

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k393k

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

Neighborhood: Paradise Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10801875

* 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
J. Marlan Walker International Elementary School Primary Regular 628 39 10
Jack And Terry Mannion Middle School Middle Regular 1,523 62 NA
Foothill High School High Regular 2,883 109 7

J. Marlan Walker International Elementary School

  • Education Level: Primary
  • # of students: 628
  • # of teachers: 39
10
GreatSchools Rating

Jack And Terry Mannion Middle School

  • Education Level: Middle
  • # of students: 1,523
  • # of teachers: 62
NA
GreatSchools Rating

Foothill High School

  • Education Level: High
  • # of students: 2,883
  • # of teachers: 109
7
GreatSchools Rating
 

$436,500$533,500$485,000

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$1,789
Property Tax -$314
Property Insurance -$94
HOA -$86
Property Management Fees -$119
CASH FLOW
-$92

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.

$485,000

PROJECTED PRICE

$2,310

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.22%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$134,275

INVESTMENT

$134,275

Down Payment
$121,250
Rehab Estimate
$5,750
Closing Costs
$7,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,789

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $121,250
Loan Amount $363,750
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$28,945

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,280

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,1953$2,3004$2,3005$2,500
$2,500
RENT COMPS ANALYSIS
  • 752 Descartes Avenue Henderson, NV 1
    • 5 beds 4 baths ∙ 3,429 Sqft ∙ Built 1997 5 beds 4 baths ∙ 3,429 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 121 Pettswood Drive Henderson, NV 2
    • 5 beds 3 baths ∙ 3,363 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,363 Sqft ∙ Built 2006
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.65
    •  
  • 92 Pettswood Drive Henderson, NV 3
    • 5 beds 3 baths ∙ 3,746 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,746 Sqft ∙ Built 2005
    LEASED 02/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.61
    •  
  • 744 Descartes Avenue Henderson, NV 4
    • 5 beds 5 baths ∙ 3,363 Sqft ∙ Built 1998 5 beds 5 baths ∙ 3,363 Sqft ∙ Built 1998
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.68
    •  
  • 996 Cedar Cliff Court Henderson, NV 5
    • 4 beds 4 baths ∙ 3,466 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,466 Sqft ∙ Built 2017
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.72
    •  
PROPERTY LISTING DETAILS
Steven D Baird
1.702.592.9927
The Baird Group, Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224708
Last Updated: 08/25/2020
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