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7021 Golden Desert Avenue Las Vegas, NV 89129

3 Beds 1 Baths 1,565 sqft Built 1997

$310,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $198.08
  • 4 Days on Market
  • MLS # : 2249489
  • Updated Date : 11/20/2020 at 21:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,565 sqft
  • Baths : 1 full
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

This Northwest Gem is waiting for its lucky new owner! Updated and impeccable single story 3BR/2 Bath where you will be able to enjoy your private backyard POOL under the covered patio. You will feel right at home in this warm and welcoming home. Walk in to new floors, neutral finishes, on-trend barndoor in the Master leading to the Master Bath with a new vanity and double shower heads. Kitchen offers plenty of cabinets, granite & SS appliances. All appliances are included. Kitchen opens to a living space with a lovely fireplace and views through the French Doors to the pool. Owner also recently added a new irrigation system in both the front and backyard; Mature landscaping will be low maintenance. Convenient access to the freeway and close to plenty of shopping options.

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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: Lone Mountain Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $114k296k

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

Neighborhood: Lone Mountain Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9401606

* 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
Ruthe Deskin Elementary School Primary Regular 624 36 6
Justice M E Leavitt Middle School Middle Regular 1,496 64 NA
Centennial High School High Regular 3,055 124 6

Ruthe Deskin Elementary School

  • Education Level: Primary
  • # of students: 624
  • # of teachers: 36
6
GreatSchools Rating

Justice M E Leavitt Middle School

  • Education Level: Middle
  • # of students: 1,496
  • # of teachers: 64
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,144
Property Tax -$206
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
-$27

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.

$310,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.2%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$21,871

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,409

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,315
1$1,3152$1,3953$1,4004$1,4955$1,500
$1,500
RENT COMPS ANALYSIS
  • 7021 Golden Desert Avenue Las Vegas, NV 5
    • 3 beds 1 baths ∙ 1,565 Sqft ∙ Built 1997 3 beds 1 baths ∙ 1,565 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.96
    •  
  • 7013 Golden Desert Avenue Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1997
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,315
    • $0.84
    •  
  • 6800 Accent Court Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,642 Sqft ∙ Built 1984 4 beds 3 baths ∙ 1,642 Sqft ∙ Built 1984
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.85
    •  
  • 7232 High Cascade Avenue #none Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,480 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,480 Sqft ∙ Built 2005
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.95
    •  
  • 7024 Overhill Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1996
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.96
    •  
PROPERTY LISTING DETAILS
Rick Thompson
1.702.755.6032
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249489
Last Updated: 11/20/2020
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