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PROPERTY INFO
FACTS
- Single Family
- Built In 2002
- Price/Sqft : $257.45
- 3 Days on Market
- MLS # : 2256492
- Updated Date : 12/18/2020 at 16:30
CONSTRUCTION
- Beds : 3
- Floor Size : 1,262 sqft
- Baths : 2 full
Listing Agent
Coldwell Banker Premier
Listing Agent's Description
YOU HAVE TO VIEW THIS SINGLE STORY GEM IN THE HEART OF PRESTIGIOUS SEVEN HILLS! LOCATED IN THE BACK OF A QUIET GATED COMMUNITY (THE TERRACES) WHICH INCLUDES AMENITIES SUCH AS A COMMUNITY POOL & SPA ALONG WITH BEAUTIFUL WALKING TRAILS THAT LEAD TO PRISTENE PARKS. THE HOME FEATURES AN OPEN, GREAT ROOM STYLE FLOOR PLAN WITH ROOM FOR A SMALL FORMAL DINING SPACE ATTACHED TO THE FAMILY ROOM ALONG WITH A COZY EAT IN KITCHEN AREA AS WELL. 3 BEDROOMS, 1 OF WHICH THAT COULD BE USED AS AN OFFICE/DEN WITH FRENCH DOORS AND ALSO HAS A CLOSET. EASY MAINTENANCE FRONT & REAR YARD WITH A FULL LENGTH PATIO THAT IS PARTIALLY COVERED TO ALLOW NATURAL LIGHT INTO THE KITCHEN. WITHIN WALKING DISTANCE TO PARKS AND ELEMENTARY SCHOOL. CALL/TEXT/EMAIL FAST BECAUSE THERE IS NOTHING BETTER THAN THIS HOME IN THIS PRICE RANGE IN THE SEVEN HILLS AREA.
SEE MORE
- 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: Seven Hills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Seven Hills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,450 |
| EXPENSES | Loan Payment | -$1,199 |
| Property Tax | -$192 | |
| Property Insurance | -$52 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$111
|
||
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.
$324,900
PROJECTED PRICE
$1,450
PROJECTED RENT
0.45%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.05% |
| Appreciation Year (1-5) | 6.8% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.57% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$91,849
LOAN DETAILS
$1,199
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $81,225 |
| Loan Amount | $243,675 |
4.42
YEARS SAVED
$16,410
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,450
LIST RENT -
$1.15
LIST RENT PER SQFT
-
$1,360
COMP ESTIMATED VALUE -
$1.08
COMP AVG. RENT PER SQFT
Comps Range
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- Rent
- Rent Per SQFT
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- $1.15
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1597 Homeward Cloud Avenue #0 Las Vegas, NV 1
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LEASED 02/14/20- Rent
- Rent Per SQFT
- $1,350
- $1.06
-
1703 Bamboo Rain Avenue #0 Las Vegas, NV 2
- 3 beds 3 baths ∙ 1,269 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,269 Sqft ∙ Built 2007
![property image]()
LEASED 05/04/20- Rent
- Rent Per SQFT
- $1,400
- $1.10
-
3124 Quail Crest Avenue Henderson, NV 4
- 3 beds 2 baths ∙ 1,384 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,384 Sqft ∙ Built 2001
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LEASED 12/23/19- Rent
- Rent Per SQFT
- $1,500
- $1.08
-
1137 Evening Ridge Street Henderson, NV 5
- 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 2002
![property image]()
LEASED 12/02/20- Rent
- Rent Per SQFT
- $1,500
- $1.07
PROPERTY LISTING DETAILS
1.702.580.9527
Coldwell Banker Premier
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2256492
Last Updated: 12/18/2020
