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7000 Sari Circle Las Vegas, NV 89110

4 Beds 3 Baths 3,029 sqft Built 1994

$575,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $189.83
  • 4 Days on Market
  • MLS # : 2265293
  • Updated Date : 02/05/2021 at 00:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,029 sqft
  • Baths : 2 full , 1 half
Listing Agent

Movoto, Inc

Listing Agent's Description

Amazing custom home built by AWARD WINNING ARCHITECT RICHARD SALMAN who named the house "The Stealth" due to its unique shape as seen in the drone aerials pics. The home is located on an elevated .52 acre lot with CITY & MOUNTAIN VIEWS. This beauty features tile and maple wood floors with maple wood staircase with use of triangle design throughout. You'll notice the the triangles add to the decor at the entry walk way, stair case, lights, and doors. A portion of the home has G90 hot dipped galvanized steel metal roof above the office. This home is complete with 2 balconies with views for miles! Fruit trees, 2 car attached garage and 2 car detached garage and detached workshop.

SEE MORE

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: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9591603

* 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
Mervin Iverson Elementary School Primary Regular 870 43 7
Kathleen And Tim Harney Middle School Middle Regular 1,845 71 NA
Las Vegas High School High Regular 3,077 121 4

Mervin Iverson Elementary School

  • Education Level: Primary
  • # of students: 870
  • # of teachers: 43
7
GreatSchools Rating

Kathleen And Tim Harney Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 71
NA
GreatSchools Rating

Las Vegas High School

  • Education Level: High
  • # of students: 3,077
  • # of teachers: 121
4
GreatSchools Rating
 

$517,500$632,500$575,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,997
Property Tax -$324
Property Insurance -$86
Property Management Fees -$119
CASH FLOW
-$676

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$575,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.8%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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-$10k-$5.0k$0.0$5.0k$10k

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$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,997

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$716

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.61

    LIST RENT PER SQFT
  • $1,886

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,8503$1,9154$1,9955$2,000
$2,000
RENT COMPS ANALYSIS
  • 7000 Sari Circle Las Vegas, NV 2
    • 4 beds 3 baths ∙ 3,029 Sqft ∙ Built 1994 4 beds 3 baths ∙ 3,029 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.61
    •  
  • 6247 Gentle Waters Court Las Vegas, NV 1
    • 5 beds 3 baths ∙ 2,876 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,876 Sqft ∙ Built 2005
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.60
    •  
  • 196 Ginger Root Court Las Vegas, NV 3
    • 3 beds 3 baths ∙ 3,253 Sqft ∙ Built 2005 3 beds 3 baths ∙ 3,253 Sqft ∙ Built 2005
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,915
    • $0.59
    •  
  • 1535 Deerford Circle Las Vegas, NV 4
    • 4 beds 3 baths ∙ 3,166 Sqft ∙ Built 1996 4 beds 3 baths ∙ 3,166 Sqft ∙ Built 1996
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.63
    •  
  • 190 Radwick Drive Las Vegas, NV 5
    • 3 beds 2 baths ∙ 2,976 Sqft ∙ Built 1980 3 beds 2 baths ∙ 2,976 Sqft ∙ Built 1980
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.67
    •  
PROPERTY LISTING DETAILS
Shannon W Fitzpatrick
1.702.769.3080
Movoto, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2265293
Last Updated: 02/05/2021
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