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2299 Potter Lake Avenue Henderson, NV 89052

2 Beds 2 Baths 2,032 sqft Built 2003

$499,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $245.57
  • 6 Days on Market
  • MLS # : 2250019
  • Updated Date : 11/27/2020 at 14:44
CONSTRUCTION
  • Beds : 2
  • Floor Size : 2,032 sqft
  • Baths : 2 full
Listing Agent

Windermere Prestige Properties

Listing Agent's Description

Want beautiful views and glorious sunsets? You’ve found them at 2299 Potter Lake! Located in amazing Sun City Anthem, this spacious 2032sf home has 2 bedrooms + a den (located off the entry - perfect for a home office). A skylight brightens up the cheerful kitchen with granite counters, SS appliances and additional cabinetry...and entertaining and party prep will be a dream with its center island & breakfast nook! The gated front courtyard is a charming spot for morning coffee & visits with neighbors and friends. Enjoy the covered back patio off of the expansive great room and relish in the impressive views of the surrounding mountains and Las Vegas Strip. The primary bedroom is relaxing & oversized. Beautiful shutters throughout and solar screens help to keep energy costs low. The 2-car garage has an epoxied floor, dedicated workshop space & storage cabinets/racks. Be sure to stop by the Clubhouse, you’ll love everything Sun City Anthem has to offer…active, age-restricted at its best!

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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: Sun City Anthem

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k397k

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

Neighborhood: Sun City Anthem

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10802028

* 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
Shirley And Bill Wallin Elementary School Primary Regular 1,067 51 10
Del E Webb Middle School Middle Regular 1,863 74 NA
Liberty High School High Regular 2,496 105 5

Shirley And Bill Wallin Elementary School

  • Education Level: Primary
  • # of students: 1,067
  • # of teachers: 51
10
GreatSchools Rating

Del E Webb Middle School

  • Education Level: Middle
  • # of students: 1,863
  • # of teachers: 74
NA
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,496
  • # of teachers: 105
5
GreatSchools Rating
 

$449,100$548,900$499,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,841
Property Tax -$272
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
-$489

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.

$499,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 5.1%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$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$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,841

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$4,842

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,971

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,8003$1,8104$2,1005$2,100
$2,100
RENT COMPS ANALYSIS
  • 2299 Potter Lake Avenue Henderson, NV 3
    • 2 beds 2 baths ∙ 2,032 Sqft ∙ Built 2003 2 beds 2 baths ∙ 2,032 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.89
    •  
  • 2077 Colvin Run Drive Henderson, NV 1
    • 2 beds 2 baths ∙ 1,917 Sqft ∙ Built 2002 2 beds 2 baths ∙ 1,917 Sqft ∙ Built 2002
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.86
    •  
  • 2130 Fort Halifax Street Henderson, NV 2
    • 2 beds 2 baths ∙ 1,836 Sqft ∙ Built 2004 2 beds 2 baths ∙ 1,836 Sqft ∙ Built 2004
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.98
    •  
  • 2122 Fort Sanders Henderson, NV 4
    • 2 beds 2 baths ∙ 2,012 Sqft ∙ Built 2004 2 beds 2 baths ∙ 2,012 Sqft ∙ Built 2004
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.04
    •  
  • 3056 Friendship Hill Circle Henderson, NV 5
    • 2 beds 2 baths ∙ 2,096 Sqft ∙ Built 2004 2 beds 2 baths ∙ 2,096 Sqft ∙ Built 2004
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.00
    •  
PROPERTY LISTING DETAILS
Nicole Terry
1.702.994.9541
Windermere Prestige Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2250019
Last Updated: 11/27/2020
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