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949 Pyrite Avenue Henderson, NV 89011

3 Beds 2 Baths 2,592 sqft Built 1997

$579,999

List Price

$2,430

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $223.77
  • 3 Days on Market
  • MLS # : 2260124
  • Updated Date : 01/09/2021 at 02:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,592 sqft
  • Baths : 2 full
Listing Agent

Urban Nest Realty

Listing Agent's Description

Distinctly beautiful single-story home in Calico Ridge! Custom touches and quality upgrades inside and out, featuring: * Gourmet kitchen with granite counters * Stainless steel appliances * Beautiful views of the city * Spa-like master bathroom with jacuzzi tub * Custom built luxury walk in closet * Hardwood & tile flooring * Shutters & solar screens * New Stylish paved driveway * New iron entry gate * Saltwater pool with gorgeous views * RV Parking Don't sleep on this gem. View it today because it won't be available for long!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$521,999$637,999$579,999

PURCHASE PRICE

$2,187$2,673$2,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,430
EXPENSES Loan Payment -$2,015
Property Tax -$321
Property Insurance -$77
Property Management Fees -$119
CASH FLOW
-$102

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.

$579,999

PROJECTED PRICE

$2,430

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$159,450

INVESTMENT

$159,450

Down Payment
$145,000
Rehab Estimate
$5,750
Closing Costs
$8,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,015

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $145,000
Loan Amount $434,999
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$30,119

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,430

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,093

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9503$2,3954$2,4005$2,430
$2,430
RENT COMPS ANALYSIS
  • 949 Pyrite Avenue Henderson, NV 5
    • 3 beds 2 baths ∙ 2,592 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,592 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $0.94
    •  
  • 924 Rhyolite Terrace Henderson, NV 1
    • 3 beds 2 baths ∙ 2,566 Sqft ∙ Built 1992 3 beds 2 baths ∙ 2,566 Sqft ∙ Built 1992
    property image
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.72
    •  
  • 497 Via Stretto Avenue Henderson, NV 2
    • 3 beds 3 baths ∙ 2,708 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,708 Sqft ∙ Built 2006
    property image
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.72
    •  
  • 964 Via Vannucci Way Henderson, NV 3
    • 4 beds 3 baths ∙ 2,688 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,688 Sqft ∙ Built 2008
    property image
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.89
    •  
  • 1016 Olivia Henderson, NV 4
    • 3 beds 2 baths ∙ 2,674 Sqft ∙ Built 2008 3 beds 2 baths ∙ 2,674 Sqft ∙ Built 2008
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.90
    •  
PROPERTY LISTING DETAILS
Yvonne Hunter
1.702.677.1450
Urban Nest Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2260124
Last Updated: 01/09/2021
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