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948 Armillaria Street Henderson, NV 89011

4 Beds 4 Baths 3,398 sqft Built 1990

$599,900

List Price

$2,530

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $176.55
  • 5 Days on Market
  • MLS # : 2249344
  • Updated Date : 11/21/2020 at 09:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,398 sqft
  • Baths : 3 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Beautiful single story home in desirable Calico Ridge. Engineered hardwood and tile floors throughout. Double leaded glass doors welcome you into a sunken living room warmed by wood floors and a gas fireplace. Step up to the formal dining room for family gatherings or eat and entertain in the large expansive kitchen that opens to the family room with another fireplace for cozy relaxation and movie watching. Good floorplan for multi-gen families or work-at-home needs. The primary bedroom suite offers a 3rd fireplace that warms both the bedroom and bathroom and has a huge walk-in closet. 2 other large bedrooms that share a Jack & Jill bath are at the opposite end of the house. A flexible 4th bedroom with full bath can be used as an office/den/guest room. Situated on a raised 1/3 acre lot, located between 2 Henderson parks w/ walking & biking trails. Lake Las Vegas & Lake Mead within 4 miles. 2 separate gated RV parking lots in the subdivision for residents' convenience. See it soon!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Calico Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k435k

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

Neighborhood: Calico Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10802043

* 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
 

$539,910$659,890$599,900

PURCHASE PRICE

$2,277$2,783$2,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,530
EXPENSES Loan Payment -$2,213
Property Tax -$372
Property Insurance -$93
Property Management Fees -$119
CASH FLOW
-$267

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.

$599,900

PROJECTED PRICE

$2,530

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.7%
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-$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$164,724

INVESTMENT

$164,724

Down Payment
$149,975
Rehab Estimate
$5,750
Closing Costs
$8,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,213

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $149,975
Loan Amount $449,925
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$24,075

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,530

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,571

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,5303$2,7004$2,800
$2,800
RENT COMPS ANALYSIS
  • 948 Armillaria Street Henderson, NV 2
    • 4 beds 4 baths ∙ 3,398 Sqft ∙ Built 1990 4 beds 4 baths ∙ 3,398 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $2,530
    • $0.74
    •  
  • 128 Rolling Cove Avenue Henderson, NV 1
    • 5 beds 4 baths ∙ 3,241 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,241 Sqft ∙ Built 2007
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.71
    •  
  • 1239 Casa Palermo Circle Henderson, NV 3
    • 5 beds 5 baths ∙ 3,397 Sqft ∙ Built 2005 5 beds 5 baths ∙ 3,397 Sqft ∙ Built 2005
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.79
    •  
  • 1043 Via Di Olivia Henderson, NV 4
    • 5 beds 3 baths ∙ 3,643 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,643 Sqft ∙ Built 2005
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.77
    •  
PROPERTY LISTING DETAILS
Joanne Scalzi
1.702.449.8315
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249344
Last Updated: 11/21/2020
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