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9348 Olympia Falls Avenue Las Vegas, NV 89149

4 Beds 3 Baths 2,948 sqft Built 2005

$445,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $150.95
  • 3 Days on Market
  • MLS # : 2269657
  • Updated Date : 02/12/2021 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,948 sqft
  • Baths : 3 full
Listing Agent

Platinum R.e. Professionals

Listing Agent's Description

WHOA NELLY STUNNING HOME RIGHT OUT OF MAGAZINE THOUSANDS IN UPGRADES BETTER THAN A MODEL. HISTORIC HOME SHORTAGE NO END IN SIGHT PRICES SKYROCKET! ONLY $151 A FOOT THESE HOME ARE BECOMING EXTINCT. Beautiful entry way leads you to nice open floor plan with formal areas, dramatic staircase. Gourmet like kitchen with upgraded cabinets and sparkling granite that over looks the entertainment room. Take a stroll out back to your own mini park with covered patio relaxing walkway and soothing pond. The second floor boast of huge penthouse like master bedroom with private balcony and spa like master bathroom. Large secondary rooms. A CALIFORNIA EXODUS FAVORITE! DONT DELAY CLICK TODAY BEST IN CLASS!

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MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Sandra L. Thompson Elementary School Primary Regular 798 39 8
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Arbor View High School High Regular 2,878 116 9

Sandra L. Thompson Elementary School

  • Education Level: Primary
  • # of students: 798
  • # of teachers: 39
8
GreatSchools Rating

Edmundo Eddie Escobedo Sr Middle School

  • Education Level: Middle
  • # of students: 1,171
  • # of teachers: 47
NA
GreatSchools Rating

Arbor View High School

  • Education Level: High
  • # of students: 2,878
  • # of teachers: 116
9
GreatSchools Rating
 

$400,500$489,500$445,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,546
Property Tax -$351
Property Insurance -$84
Property Management Fees -$119
CASH FLOW
$0

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.

$445,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.3%
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$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$123,675

INVESTMENT

$123,675

Down Payment
$111,250
Rehab Estimate
$5,750
Closing Costs
$6,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,546

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $111,250
Loan Amount $333,750
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$28,441

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,263

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1503$2,3004$2,3995$2,400
$2,400
RENT COMPS ANALYSIS
  • 9348 Olympia Falls Avenue Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,948 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,948 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.71
    •  
  • 9333 Outer Banks Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,948 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,948 Sqft ∙ Built 2005
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.73
    •  
  • 9408 Silent Oak Court #0 Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,948 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,948 Sqft ∙ Built 2005
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.78
    •  
  • 10016 Sharp Ridge Avenue Las Vegas, NV 4
    • 5 beds 4 baths ∙ 3,087 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,087 Sqft ∙ Built 2005
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,399
    • $0.78
    •  
  • 7721 Native Winds Court Las Vegas, NV 5
    • 5 beds 3 baths ∙ 3,087 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,087 Sqft ∙ Built 2005
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.78
    •  
PROPERTY LISTING DETAILS
Steve P Hawks
1.702.617.4637
Platinum R.e. Professionals
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2269657
Last Updated: 02/12/2021
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