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997 Fishing Street Henderson, NV 89011

3 Beds 2 Baths 1,340 sqft Built 2012

$305,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 2012
  • Price/Sqft : $227.61
  • 7 Days on Market
  • MLS # : 2239413
  • Updated Date : 10/28/2020 at 19:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,340 sqft
  • Baths : 2 full
Listing Agent

Re/max Advantage

Listing Agent's Description

Beautiful 1 story, 3 bedroom 2 bath home in the South East. 2 car garage with entry to house. Open floor plan, with living area as you enter the home. Tile flooring in kitchen and dining area.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Pittman

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $72k340k

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

Neighborhood: Pittman

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500160017001800Rent in $7911825

* 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
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$1,125
Property Tax -$215
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
-$172

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$305,000

PROJECTED PRICE

$1,340

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.5%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$7,799

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,374

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,340
1$1,3402$1,4003$1,4004$1,4955$1,495
$1,495
RENT COMPS ANALYSIS
  • 997 Fishing Street Henderson, NV 1
    • 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $1.00
    •  
  • 124 Scouts Pine Lane Henderson, NV 2
    • 3 beds 3 baths ∙ 1,356 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,356 Sqft ∙ Built 2008
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.03
    •  
  • 957 Wembly Hills Place #n/a Henderson, NV 3
    • 3 beds 3 baths ∙ 1,356 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,356 Sqft ∙ Built 2012
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.03
    •  
  • 967 Sable Chase Henderson, NV 4
    • 3 beds 3 baths ∙ 1,471 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,471 Sqft ∙ Built 2007
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.02
    •  
  • 987 Sable Chase Place #n/a Henderson, NV 5
    • 3 beds 3 baths ∙ 1,471 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,471 Sqft ∙ Built 2009
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.02
    •  
PROPERTY LISTING DETAILS
Kenneth C Ravago
1.702.714.1536
Re/max Advantage
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2239413
Last Updated: 10/28/2020
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