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948 Miller Canyon Avenue Henderson, NV 89012

3 Beds 3 Baths 2,321 sqft Built 2016

$452,595

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $195.00
  • 20 Days on Market
  • MLS # : 2256136
  • Updated Date : 01/03/2021 at 02:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,321 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Market Place

Listing Agent's Description

Beautiful split level home shows pride in ownership & in a cul-de-sac. Enjoy your Master Bedroom retreat on the ground level, spacious laundry room w/cabinets & opt fridge, family room, 1/2 bath & master ensuite which includes a standing safe in large master closet & huge storage closet under the staircase. Stairs custom railings, to the main living room, spacious "Super" kitchen bost all GE Monogram Stainless Appliances, Dbl ovens, Beautiful 42" white cabinets with crown molding, a huge walk in pantry & desk area. You'll love the huge center island with loads of storage. Upstairs hosts 2 bedrooms, Full bath, Den/Office and you guessed it...more storage! You'll feel right at home the minute you walk through the front door. Epoxy & Finished Garage, Pre-wired for solar, pre-plumbed for a wet bar. You'll be very pleased to find the trail head to Amargosa Trail right across the street, you can walk, jog or bike for hours. Best Kenmore water conditioner & a city view!

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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: McCullough Hills

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k366k

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

Neighborhood: McCullough Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10801914

* 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
Ulis Newton Elementary School Primary Regular 611 35 7
Jack And Terry Mannion Middle School Middle Regular 1,523 62 NA
Foothill High School High Regular 2,883 109 7

Ulis Newton Elementary School

  • Education Level: Primary
  • # of students: 611
  • # of teachers: 35
7
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
 

$407,336$497,855$452,595

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,670
Property Tax -$309
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
-$270

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.

$452,595

PROJECTED PRICE

$1,900

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.5%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,688

INVESTMENT

$125,688

Down Payment
$113,149
Rehab Estimate
$5,750
Closing Costs
$6,789

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,670

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $113,149
Loan Amount $339,446
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$13,011

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,955

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8953$1,9004$1,9955$2,175
$2,175
RENT COMPS ANALYSIS
  • 948 Miller Canyon Avenue Henderson, NV 3
    • 3 beds 3 baths ∙ 2,321 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,321 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.82
    •  
  • 95 Glendive Street #0 Henderson, NV 1
    • 4 beds 2 baths ∙ 2,303 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,303 Sqft ∙ Built 2002
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.80
    •  
  • 44 Vallejo Verde Henderson, NV 2
    • 4 beds 2 baths ∙ 2,162 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,162 Sqft ∙ Built 1999
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.88
    •  
  • 208 Rocky Basin Street Henderson, NV 4
    • 4 beds 3 baths ∙ 2,518 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,518 Sqft ∙ Built 2013
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.79
    •  
  • 65 Cabana Blanca Street Henderson, NV 5
    • 4 beds 3 baths ∙ 2,430 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,430 Sqft ∙ Built 2000
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.90
    •  
PROPERTY LISTING DETAILS
Ila Y Paddack
1.702.526.3679
Keller Williams Market Place
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2256136
Last Updated: 01/03/2021
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