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93 Contrada Fiore Drive Henderson, NV 89011

3 Beds 3 Baths 2,317 sqft Built 2010

$674,990

List Price

$2,620

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2010
  • Price/Sqft : $291.32
  • 5 Days on Market
  • MLS # : 2243090
  • Updated Date : 10/30/2020 at 19:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,317 sqft
  • Baths : 2 full , 1 half
Listing Agent

Signature Gallery Of Homes

Listing Agent's Description

Immaculate fully furnished single story home in the prestigious gated community of Bella Fiore in Lake Las Vegas. This home is built around a 320-acre lake and is considered by many to be the most beautiful in the entire Las Vegas Valley. Three bedrooms, 2.5 baths and a 3 car tandem garage are located in a peaceful culdesac. Open concept floor plan with 10'ceilings, craftsman style millwork,custom detailing, & gas fireplace. Gourmet kitchen boasts granite counters, large island, SSGE Profile appliances including oversized French door refrigerator. Multigenerational or caretakers suite, new wood laminate in the living area, wine cooler, modern vent hood ,pull down faucet in kitchen, and outdoor kitchen. ALL furniture and décor specifically chosen for this homes are included along with appliances. Ample windows and pool-size lot offer serene views of the entire north shore of Lake Las Vegas and surrounding mountains. Sports Club membership valued at $10,000 is included with this home.

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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: 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
 

$607,491$742,489$674,990

PURCHASE PRICE

$2,358$2,882$2,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,620
EXPENSES Loan Payment -$2,490
Property Tax -$418
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
-$480

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.

$674,990

PROJECTED PRICE

$2,620

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.7%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$184,622

INVESTMENT

$184,622

Down Payment
$168,748
Rehab Estimate
$5,750
Closing Costs
$10,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,490

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $168,748
Loan Amount $506,243
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$14,455

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,620

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $2,346

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,2003$2,4704$2,5005$2,620
$2,620
RENT COMPS ANALYSIS
  • 93 Contrada Fiore Drive Henderson, NV 5
    • 3 beds 3 baths ∙ 2,317 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,317 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $2,620
    • $1.13
    •  
  • 71 Avenza Henderson, NV 1
    • 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 2008
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.03
    •  
  • 3 Villa Ferrari Court #0 Henderson, NV 2
    • 3 beds 4 baths ∙ 2,383 Sqft ∙ Built 2006 3 beds 4 baths ∙ 2,383 Sqft ∙ Built 2006
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.92
    •  
  • 8 Via Salerno Henderson, NV 3
    • 3 beds 4 baths ∙ 2,343 Sqft ∙ Built 2001 3 beds 4 baths ∙ 2,343 Sqft ∙ Built 2001
    LEASED 06/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,470
    • $1.05
    •  
  • 4 Villa Ferrari Court #0 Henderson, NV 4
    • 3 beds 4 baths ∙ 2,383 Sqft ∙ Built 2006 3 beds 4 baths ∙ 2,383 Sqft ∙ Built 2006
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.05
    •  
PROPERTY LISTING DETAILS
Trish Nash
1.702.331.3948
Signature Gallery Of Homes
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243090
Last Updated: 10/30/2020
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