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850 Azalea Court Henderson, NV 89002

3 Beds 2 Baths 1,234 sqft Built 1979

INVESTimate

$279,900

List Price

$1,260

$1,134 - $1,386

Rent Est.

$311,277  ( +11.21%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1979
  • Price/Sqft : $226.82
  • 6 Days on Market
  • MLS # : 2223119
  • Updated Date : 08/24/2020 at 14:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,234 sqft
  • Baths : 2 full
Listing Agent

Urban Nest Realty

Listing Agent's Description

This home shows pride of ownership and Price for quick sale.l Won't last long. Why buy new and pay those high builder prices. This Move in Ready home is priced to sell. Updated home is now a Smart house with cameras motion sensors digital front door access and much more. 3 bed 2 bath single story on over sized corner cul-de-sac lot located in highly desirable Henderson. Large rooms new paint on walls & ceilings new custom base board. Custom recessed motion sensed LED lights through out. New led ceiling fans with remotes. No HOA mature trees on over sized lot need RV parking. Approx .50x15 patio cover

SEE MORE

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: Highland Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $117k340k

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

Neighborhood: Highland Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9181825

* 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
Fay Galloway Elementary School Primary Regular 691 36 6
Jack And Terry Mannion Middle School Middle Regular 1,523 62 NA
Foothill High School High Regular 2,883 109 7

Fay Galloway Elementary School

  • Education Level: Primary
  • # of students: 691
  • # of teachers: 36
6
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
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,134$1,386$1,260

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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 $1,260
EXPENSES Loan Payment -$1,033
Property Tax -$124
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
-$66

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.

$279,900

PROJECTED PRICE

$1,260

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.21%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$16,769

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,260

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,148

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,2603$1,3494$1,450
$1,450
RENT COMPS ANALYSIS
  • 850 Azalea Court Henderson, NV 2
    • 3 beds 2 baths ∙ 1,234 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,234 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $1.02
    •  
  • 305 Van Wagenen Henderson, NV 1
    • 3 beds 2 baths ∙ 1,080 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,080 Sqft ∙ Built 1971
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.93
    •  
  • 122 Weymouth Lane Henderson, NV 3
    • 3 beds 1 baths ∙ 1,468 Sqft ∙ Built 1996 3 beds 1 baths ∙ 1,468 Sqft ∙ Built 1996
    property image
    LEASED 06/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $0.92
    •  
  • 555 Landra Henderson, NV 4
    • 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1996
    property image
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.94
    •  
PROPERTY LISTING DETAILS
Suzie Marquardt
1.702.234.7653
Urban Nest Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223119
Last Updated: 08/24/2020
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