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2873 Olivia Heights Avenue Henderson, NV 89052

2 Beds 3 Baths 2,592 sqft Built 2002

$825,000

List Price

$2,550

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $318.29
  • 2 Days on Market
  • MLS # : 2276576
  • Updated Date : 03/07/2021 at 01:30
CONSTRUCTION
  • Beds : 2
  • Floor Size : 2,592 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Sweeping 180° views of the Mountains & Sunsets, Perched high above the Revere Golf Course, Sparkling POOL and Waterfall SPA, Built-in BBQ and Outdoor Dining area. OWNER INSTALLED 50 SOLAR PANELS 10-3-2014. They generate heat for entire home, pool and spa. Monthly electric bills are $15 a month rather than the average of $400 a month mid-summer! (Solar system completely paid for) 10' ceilings, central vac, low E windows, recently repainted, 2017 HVAC , Granite, Fireplace & builtins, Bar w wine fridge, Built-ins in den, dual master suites, skylights and solar tubes, 3 car garage has Epoxy floors, safe, refrigerator, insulated & cooled, cabinets, mop sink, fully landscaped and fenced. All appliances included. Located in the Premier 55+ Community of Sun City Anthem. It features community golf, recreation center, indoor and outdoor pools/spas, bocce ball, tennis, activities, walking paths, the Revere Golf Course and Restaurant. Retirement Living at its Finest...Las Vegas Style!

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: 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
 

$742,500$907,500$825,000

PURCHASE PRICE

$2,295$2,805$2,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,550
EXPENSES Loan Payment -$2,866
Property Tax -$408
Property Insurance -$77
Property Management Fees -$119
CASH FLOW
-$920

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.

$825,000

PROJECTED PRICE

$2,550

PROJECTED RENT

0.31%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$224,375

INVESTMENT

$224,375

Down Payment
$206,250
Rehab Estimate
$5,750
Closing Costs
$12,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,866

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $206,250
Loan Amount $618,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,263

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,550

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,249

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1503$2,2004$2,5005$2,550
$2,550
RENT COMPS ANALYSIS
  • 2873 Olivia Heights Avenue Henderson, NV 5
    • 2 beds 3 baths ∙ 2,592 Sqft ∙ Built 2002 2 beds 3 baths ∙ 2,592 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.98
    •  
  • 2115 Sandstone Cliffs Drive Henderson, NV 1
    • 2 beds 2 baths ∙ 2,401 Sqft ∙ Built 2006 2 beds 2 baths ∙ 2,401 Sqft ∙ Built 2006
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.83
    •  
  • 2280 Canyonville Drive Henderson, NV 2
    • 2 beds 2 baths ∙ 2,592 Sqft ∙ Built 2007 2 beds 2 baths ∙ 2,592 Sqft ∙ Built 2007
    LEASED 01/29/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.83
    •  
  • 2196 Twin Falls Drive Henderson, NV 3
    • 2 beds 2 baths ∙ 2,401 Sqft ∙ Built 2005 2 beds 2 baths ∙ 2,401 Sqft ∙ Built 2005
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.92
    •  
  • 3045 Lehman Cave Court #0 Henderson, NV 4
    • 2 beds 3 baths ∙ 2,814 Sqft ∙ Built 2003 2 beds 3 baths ∙ 2,814 Sqft ∙ Built 2003
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.89
    •  
PROPERTY LISTING DETAILS
Joan F Brownell
1.702.499.9696
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2276576
Last Updated: 03/07/2021
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