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194 Oella Ridge Court Henderson, NV 89012

3 Beds 2 Baths 1,589 sqft Built 1998

$338,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

$95,320

Investment Est.

PROPERTY INFO

SINGLE-FAMILY
February 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $212.71
  • 3 Days on Market
  • MLS # : 2271625
  • Updated Date : 02/20/2021 at 04:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,589 sqft
  • Baths : 2 full
Listing Agent

Windermere Prestige Properties

Listing Agent's Description

3 BEDROOM SINGLE STORY WITH 2 SHOWERS ( 1 SHOWER HAS ACCESSIBILITY HANDLE). FULLY ENCLOSED PERMITTED SUN ROOM PORCH.OVERSIZED DOUBLE OVENS IN KITCHEN. TILE THRUOUT. WINDERCOVERINGS WITH ADDED SUN PROTECTION SHADES THRUOUT. GARAGE HAS CUSTOM CABINTRY ON BOTH SIDES WITH WHEEL CHAIR ACCESSIBILITY ENTRANCE TO THE HOME. FORMAL LIVING AND DINING AT FRONT OF HOUSE. FAMILY ROOM WITH FIREPLACE HAS ACCESS TO THE ENCLOSED SUN ROOM PORCH AND BACKYARD. CLOSE TO GREEN VALLEY AND IT'S MANY AMENITIES. THE DISTRICT FOR FINE DINING AND SHOPPING. THE MULTI-GEN LIBRARY AND MUSICAL CONCERTS. GROCERY STORES WITHIN WALKING DISTANCE. A NICE FLOORPLAN TO CREATE AN AMAZING 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: Green Valley Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k396k

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

Neighborhood: Green Valley Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10802045

* 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
John Vanderburg Elementary School Primary Regular 929 45 10
Bob Miller Middle School Middle Regular 1,600 59 NA
Coronado High School High Regular 3,240 124 10

John Vanderburg Elementary School

  • Education Level: Primary
  • # of students: 929
  • # of teachers: 45
10
GreatSchools Rating

Bob Miller Middle School

  • Education Level: Middle
  • # of students: 1,600
  • # of teachers: 59
NA
GreatSchools Rating

Coronado High School

  • Education Level: High
  • # of students: 3,240
  • # of teachers: 124
10
GreatSchools Rating
 

FINANCIALS

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$304,200$371,800$338,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING
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FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,174
Property Tax -$209
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$40

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.

$338,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.1%
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$5.0k$10k$15k

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$95,320

INVESTMENT

$95,320

Down Payment		 $84,500
Rehab Estimate		 $5,750
Closing Costs		 $5,070

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,174

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,500
Loan Amount $253,500
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$26,140

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT

  • $1.01

    LIST RENT PER SQFT

  • $1,617

    COMP ESTIMATED VALUE

  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,599
1$1,5992$1,6003$1,6004$1,6505$1,800
$1,800
RENT COMPS ANALYSIS
  • 194 Oella Ridge Court Henderson, NV 3
    • 3 beds 2 baths ∙ 1,589 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,589 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.01
    •  
  • 1486 Rancho Navarro Street Henderson, NV 1
    • 3 beds 2 baths ∙ 1,589 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,589 Sqft ∙ Built 1997
    property image
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $1.01
    •  
  • 1471 Summer Glow Avenue Henderson, NV 2
    • 4 beds 3 baths ∙ 1,506 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,506 Sqft ∙ Built 2000
    property image
    LEASED 01/29/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.06
    •  
  • 1465 Verde Triandos Drive Henderson, NV 4
    • 3 beds 2 baths ∙ 1,725 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,725 Sqft ∙ Built 2000
    property image
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.96
    •  
  • 158 Tionesta Ridge Lane Henderson, NV 5
    • 3 beds 2 baths ∙ 1,725 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,725 Sqft ∙ Built 2000
    property image
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.04
    •  
PROPERTY LISTING DETAILS
LISTING AGENT
Sandra Castor
1.702.494.8481
Windermere Prestige Properties
BUYER AGENT
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
SOURCE
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2271625
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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