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962 Medina De Leon Avenue Henderson, NV 89015

3 Beds 3 Baths 1,354 sqft Built 2005

$274,500

List Price

$1,410

$1.3K - $1.6K

Rent Est.

$78,493

Investment Est.

PROPERTY INFO

SINGLE-FAMILY
February 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $202.73
  • 2 Days on Market
  • MLS # : 2271658
  • Updated Date : 02/20/2021 at 18:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,354 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart Encore

Listing Agent's Description

Desirable Single Family Home in Henderson! Freshly painted interior, paved patio, low HOA, all in a great community. All appliances are included, 2 car garage and blinds throughout the home. This home boast 1,354 sqft, 3 bedrooms and 2.5 baths! All this in the very desirable Henderson community for under $300k. Come fall in love. Welcome Home!

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MARKET HIGHLIGHTS

Las Vegas Market Report
  • 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: River Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k362k

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

Neighborhood: River Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9911875

* 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
Sue Morrow Elementary School Primary Regular 734 38 9
B. Mahlon Brown Junior High School Middle Regular 978 46 NA
Basic High School High Regular 2,367 100 3

Sue Morrow Elementary School

  • Education Level: Primary
  • # of students: 734
  • # of teachers: 38
9
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
 

FINANCIALS

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$247,050$301,950$274,500

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING
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FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$953
Property Tax -$170
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
$114

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.

$274,500

PROJECTED PRICE

$1,410

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.8%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$78,493

INVESTMENT

$78,493

Down Payment		 $68,625
Rehab Estimate		 $5,750
Closing Costs		 $4,118

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$953

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,625
Loan Amount $205,875
See What Happens When You Reinvest Cash Flow

8.17

YEARS SAVED

$29,102

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT

  • $1.04

    LIST RENT PER SQFT

  • $1,405

    COMP ESTIMATED VALUE

  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,410
1$1,4102$1,4503$1,5504$1,5755$1,650
$1,650
RENT COMPS ANALYSIS
  • 962 Medina De Leon Avenue Henderson, NV 1
    • 3 beds 3 baths ∙ 1,354 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,354 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $1.04
    •  
  • 990 Alfonso Avenue #0 Henderson, NV 2
    • 3 beds 3 baths ∙ 1,485 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,485 Sqft ∙ Built 2005
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.98
    •  
  • 531 Albacate Street Henderson, NV 3
    • 3 beds 3 baths ∙ 1,486 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,486 Sqft ∙ Built 2005
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.04
    •  
  • 550 Eresma Street Henderson, NV 4
    • 3 beds 3 baths ∙ 1,486 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,486 Sqft ∙ Built 2005
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.06
    •  
  • 997 Blue Lantern Drive Henderson, NV 5
    • 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 1997
    LEASED 01/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.07
    •  
PROPERTY LISTING DETAILS
LISTING AGENT
Todd R Tolliver
1.702.875.6621
Homesmart Encore
BUYER AGENT
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
SOURCE
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2271658
Last Updated: 02/20/2021

All returns, cash flow, and appreciation estimates are projections. Please review our Disclaimer for more information.

All values are rounded to the nearest dollar.
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