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24 Olive Tree Court Henderson, NV 89074

5 Beds 3 Baths 2,525 sqft Built 1993

$499,999

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

January 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $198.02
  • 2 Days on Market
  • MLS # : 2263881
  • Updated Date : 01/24/2021 at 00:30
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,525 sqft
  • Baths : 3 full
Listing Agent

Signature Real Estate Group

Listing Agent's Description

2525 sqft, Upgraded 5 bedroom (master down), 3 bath, 3 car garage in Green Valley. Grey wood laminate flooring throughout w/carpet on stairs & tile in kitchen/bath, grey 2 tone paint w/white accent & pot shelves. Kitchen has island w/breakfast bar, granite counters, choc cabinets, gas cooktop & built in oven, track lighting, black appliances & dining nook that opens to family room. Family room w/vaulted ceilings & fireplace. Formal living/formal dining w/vaulted ceilings & bay window. Primary bedroom down w/french doors, coffered vaulted ceilings, ceiling fan/light, walk in closet, dual sinks, sep tub & shower & slider to outside patio. Bed #2 downstairs w/high ceilings, ceiling fan/light & walk in closet. Bed #3 downstairs w/high ceilings, ceiling fan/light. Bath #2 downstairs w/tub/shower combo. Bed 3 & 4 with ceiling fans/lights. Bath #3 up has tub/shower combo. Large loft w/dual ceiling fans/lights. Exterior w/full covered patio w/ceiling fans, tile & grass in front & back. Low HOA

SEE MORE

MARKET HIGHLIGHTS

  • 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 South

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k362k

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

Neighborhood: Green Valley South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10801875

* 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
Selma F. Bartlett Elementary School Primary Regular 682 35 10
Barbara And Hank Greenspun Middle School Middle Regular 1,397 55 NA
Coronado High School High Regular 3,240 124 10

Selma F. Bartlett Elementary School

  • Education Level: Primary
  • # of students: 682
  • # of teachers: 35
10
GreatSchools Rating

Barbara And Hank Greenspun Middle School

  • Education Level: Middle
  • # of students: 1,397
  • # of teachers: 55
NA
GreatSchools Rating

Coronado High School

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

$449,999$549,999$499,999

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,737
Property Tax -$243
Property Insurance -$76
Property Management Fees -$119
CASH FLOW
-$124

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.

$499,999

PROJECTED PRICE

$2,050

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.9%
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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,737

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $125,000
Loan Amount $374,999
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$23,391

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,159

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,1003$2,1504$2,2505$2,470
$2,470
RENT COMPS ANALYSIS
  • 24 Olive Tree Court Henderson, NV 1
    • 5 beds 3 baths ∙ 2,525 Sqft ∙ Built 1993 5 beds 3 baths ∙ 2,525 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.81
    •  
  • 2054 Majestic Peak Drive Henderson, NV 2
    • 4 beds 2 baths ∙ 2,535 Sqft ∙ Built 1990 4 beds 2 baths ∙ 2,535 Sqft ∙ Built 1990
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.83
    •  
  • 2069 Sapphire Valley Avenue Henderson, NV 3
    • 4 beds 3 baths ∙ 2,535 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,535 Sqft ∙ Built 1991
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.85
    •  
  • 20 Olive Tree Court Henderson, NV 4
    • 4 beds 3 baths ∙ 2,724 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,724 Sqft ∙ Built 1993
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.83
    •  
  • 2021 Silverton Drive Henderson, NV 5
    • 4 beds 3 baths ∙ 2,720 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,720 Sqft ∙ Built 1993
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,470
    • $0.91
    •  
PROPERTY LISTING DETAILS
Denise M Gubler
1.702.496.2830
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2263881
Last Updated: 01/24/2021
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