Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3005 Novellara Avenue Henderson, NV 89044

3 Beds 3 Baths 3,064 sqft Built 2016

$825,000

List Price

$2,780

$2.5K - $3K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $269.26
  • 3 Days on Market
  • MLS # : 2265361
  • Updated Date : 01/30/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,064 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Modern one story home located in Inspirada. Gated Community with a 3 car garage. Large corner lot(.22acres) landscaped and room for a pool. Home features ungraded open kitchen with Ceasarstone waterfall counter top. Built in GE appliance and stainless steel farm sink. Large master with tub enclosed in shower. Large family room with extended area for a pool table. Pocket slider to extended covered patio creating indoor/outdoor living space with extended pergola. A perfect home for entertaining. A must see!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Robert And Sandy Ellis Elementary School Primary Unknown NA
Del E Webb Middle School Middle Regular 1,863 74 NA
Liberty High School High Regular 2,496 105 5

Robert And Sandy Ellis Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
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

$2,502$3,058$2,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,780
EXPENSES Loan Payment -$2,866
Property Tax -$573
Property Insurance -$87
Property Management Fees -$119
CASH FLOW
-$864

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

$2,780

PROJECTED RENT

0.34%

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

0.92

YEARS SAVED

$2,936

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,780

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,122

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0953$2,1954$2,2005$2,780
$2,780
RENT COMPS ANALYSIS
  • 3005 Novellara Avenue Henderson, NV 5
    • 3 beds 3 baths ∙ 3,064 Sqft ∙ Built 2016 3 beds 3 baths ∙ 3,064 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,780
    • $0.91
    •  
  • 2927 Ainslie Lake Avenue Henderson, NV 1
    • 4 beds 4 baths ∙ 3,021 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,021 Sqft ∙ Built 2004
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.65
    •  
  • 2403 Blackcraig Street Henderson, NV 2
    • 4 beds 4 baths ∙ 3,030 Sqft ∙ Built 2007 4 beds 4 baths ∙ 3,030 Sqft ∙ Built 2007
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.69
    •  
  • 3012 Camino Largo Avenue Henderson, NV 3
    • 4 beds 3 baths ∙ 3,151 Sqft ∙ Built 2013 4 beds 3 baths ∙ 3,151 Sqft ∙ Built 2013
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.70
    •  
  • 2453 Daks Loden Henderson, NV 4
    • 4 beds 4 baths ∙ 3,021 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,021 Sqft ∙ Built 2004
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.73
    •  
PROPERTY LISTING DETAILS
Travis D Strode
1.702.285.3055
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2265361
Last Updated: 01/30/2021
BESbswy