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7026 Westpark Court Las Vegas, NV 89147

4 Beds 2 Baths 1,799 sqft Built 1972

$335,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $186.21
  • 3 Days on Market
  • MLS # : 2261893
  • Updated Date : 01/16/2021 at 20:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,799 sqft
  • Baths : 2 full
Listing Agent

Century 21 Gavish Real Estate

Listing Agent's Description

Welcome to your beautiful 4 bedroom 2 bathroom Single Story POOL home perfect for today's live, work, and play environment. The outside has mature landscaping, covered patio, inground pool and spa, lemon tree ready to harvest, and plenty of play space. The kitchen has french doors that open to the patio and pool, granite countertops, stainless steel appliances, new dishwasher. Upgrades galore thoughout the home including X-large master bedroom with new patio slider to pool, new pool equipment with new high efficiency heater, new platinum water heater, lighted crown molding in living room, new electrical sockets, new interior solid core doors, new Hi Efficiency Trane HVAC system and much more. 2nd giant Master can be mother in law suite or rented out for extra income. Come see your new HOME! Contact listing agent for more information or to set up private tour!

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: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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
Pat A. Diskin Elementary School Primary Regular 686 34 6
Lawrence Junior High School Middle Regular 1,421 61 NA
Spring Valley High School High Regular 1,925 79 4

Pat A. Diskin Elementary School

  • Education Level: Primary
  • # of students: 686
  • # of teachers: 34
6
GreatSchools Rating

Lawrence Junior High School

  • Education Level: Middle
  • # of students: 1,421
  • # of teachers: 61
NA
GreatSchools Rating

Spring Valley High School

  • Education Level: High
  • # of students: 1,925
  • # of teachers: 79
4
GreatSchools Rating
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,164
Property Tax -$126
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
$270

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.

$335,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.9%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,164

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

10.25

YEARS SAVED

$49,851

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,732

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,6003$1,7404$1,8505$1,930
$1,930
RENT COMPS ANALYSIS
  • 7026 Westpark Court Las Vegas, NV 3
    • 4 beds 2 baths ∙ 1,799 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,799 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.97
    •  
  • 4294 Cloverhill Court Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 1975
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.87
    •  
  • 4747 Beaconsfield Street Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,853 Sqft ∙ Built 1987 4 beds 3 baths ∙ 1,853 Sqft ∙ Built 1987
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.86
    •  
  • 4755 Marlboro Court Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,692 Sqft ∙ Built 1976 4 beds 3 baths ∙ 1,692 Sqft ∙ Built 1976
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.09
    •  
  • 7641 Keating Circle Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,868 Sqft ∙ Built 1985 4 beds 3 baths ∙ 1,868 Sqft ∙ Built 1985
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $1.03
    •  
PROPERTY LISTING DETAILS
Rachel D Black-johnson
1.952.261.1883
Century 21 Gavish Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261893
Last Updated: 01/16/2021
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