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761 Salt Flats Circle Henderson, NV 89011

3 Beds 2 Baths 1,317 sqft Built 2000

$298,700

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $226.80
  • 7 Days on Market
  • MLS # : 2271347
  • Updated Date : 02/27/2021 at 08:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,317 sqft
  • Baths : 2 full
Listing Agent

The Right Choice Realty

Listing Agent's Description

This home features laminate wood floors, tile and carpet. Home is complete with blinds, ceiling fans and appliances. Spacious backyard features a covered patio and sandstone pavers...Hurry! This one will not last long!

SEE MORE

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: South Valley Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $95k340k

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

Neighborhood: South Valley Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9111825

* 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
Francis Cortney Middle School Middle Regular 1,235 52 NA
Basic High School High Regular 2,367 100 3

Josh Stevens Elementary School

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

Francis Cortney Middle School

  • Education Level: Middle
  • # of students: 1,235
  • # of teachers: 52
NA
GreatSchools Rating

Basic High School

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

$268,830$328,570$298,700

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$1,038
Property Tax -$162
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
-$2

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.

$298,700

PROJECTED PRICE

$1,370

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.9%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$84,906

INVESTMENT

$84,906

Down Payment
$74,675
Rehab Estimate
$5,750
Closing Costs
$4,481

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,038

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,675
Loan Amount $224,025
See What Happens When You Reinvest Cash Flow

5.83

YEARS SAVED

$19,585

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,373

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3703$1,3954$1,4305$1,500
$1,500
RENT COMPS ANALYSIS
  • 761 Salt Flats Circle Henderson, NV 2
    • 3 beds 2 baths ∙ 1,317 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,317 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $1.04
    •  
  • 796 Salt Flats Circle Henderson, NV 1
    • 3 beds 2 baths ∙ 1,317 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,317 Sqft ∙ Built 1999
    LEASED 01/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.03
    •  
  • 833 Aspen Peak Loop #2722 Henderson, NV 3
    • 3 beds 2 baths ∙ 1,318 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,318 Sqft ∙ Built 2006
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.06
    •  
  • 700 Forest Haven Way Henderson, NV 4
    • 3 beds 2 baths ∙ 1,382 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,382 Sqft ∙ Built 2000
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $1.03
    •  
  • 6937 Graceful Cloud Avenue Henderson, NV 5
    • 3 beds 3 baths ∙ 1,426 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,426 Sqft ∙ Built 2006
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.05
    •  
PROPERTY LISTING DETAILS
Raymond A Thomas
1.702.238.8167
The Right Choice Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2271347
Last Updated: 02/27/2021
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