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954 Chaps Circle Henderson, NV 89002

3 Beds 2 Baths 1,243 sqft Built 1991

$310,000

List Price

$1,170

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $249.40
  • 2 Days on Market
  • MLS # : 2266518
  • Updated Date : 02/06/2021 at 13:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,243 sqft
  • Baths : 2 full
Listing Agent

Lvsweethomes Realty

Listing Agent's Description

Home Sweet Home in Henderson - Check out this single story home w/ NO HOA that features 1243 sqft, 3 beds, 2 baths, tile and carpet floors, ceiling fans, blinds, fireplace, all kitchen appliances w/ breakfast bar, dining area, spacious master with walk in closet & double sinks w/ separate shower and tub in the bathroom, low maintenance backyard & on a pool size lot with POTENTIAL RV PARKING!

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
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,053$1,287$1,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,170
EXPENSES Loan Payment -$1,077
Property Tax -$146
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
-$223

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.

$310,000

PROJECTED PRICE

$1,170

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.2%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$5,250

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,170

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,184

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,170
1$1,1702$1,2953$1,3004$1,4955$1,495
$1,495
RENT COMPS ANALYSIS
  • 954 Chaps Circle Henderson, NV 1
    • 3 beds 2 baths ∙ 1,243 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,243 Sqft ∙ Built 1991
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,170
    • $0.94
    •  
  • 741 Spotted Eagle Street #0 Henderson, NV 2
    • 3 beds 3 baths ∙ 1,370 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,370 Sqft ∙ Built 2004
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.95
    •  
  • 784 Spotted Eagle Street #0 Henderson, NV 3
    • 3 beds 3 baths ∙ 1,370 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,370 Sqft ∙ Built 2004
    property image
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.95
    •  
  • 820 Grape Vine Avenue Henderson, NV 4
    • 4 beds 2 baths ∙ 1,562 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,562 Sqft ∙ Built 1996
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.96
    •  
  • 1071 Gurneys Eagle Avenue Henderson, NV 5
    • 3 beds 3 baths ∙ 1,567 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,567 Sqft ∙ Built 2003
    property image
    LEASED 01/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.95
    •  
PROPERTY LISTING DETAILS
Windy Humphreys-goss
1.702.523.8128
Lvsweethomes Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2266518
Last Updated: 02/06/2021
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