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7029 Whispering Falls Drive North Las Vegas, NV 89084

3 Beds 3 Baths 1,915 sqft Built 2017

$338,888

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $176.97
  • 5 Days on Market
  • MLS # : 2243616
  • Updated Date : 11/02/2020 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,915 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

This home shows like a model home. This home has upgrades everywhere, from the tile floors to the chef's kitchen, upgraded carpet and so much more! A beautiful open concept with the chef's kitchen, quartz countertops that have all the current colors. 3bd/2.5 baths make this home complete. The gorgeous backyard on a corner lot with beautiful landscaping beckon one to keep coming back.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: North Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $110k366k

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

Neighborhood: North Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9671640

* 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
Don E. Hayden Elementary School Primary Regular 702 38 6
Clifford O. Findlay Middle School Middle Regular 1,372 59 NA
Legacy High School High Regular 2,819 119 3

Don E. Hayden Elementary School

  • Education Level: Primary
  • # of students: 702
  • # of teachers: 38
6
GreatSchools Rating

Clifford O. Findlay Middle School

  • Education Level: Middle
  • # of students: 1,372
  • # of teachers: 59
NA
GreatSchools Rating

Legacy High School

  • Education Level: High
  • # of students: 2,819
  • # of teachers: 119
3
GreatSchools Rating
 

$304,999$372,777$338,888

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$1,250
Property Tax -$299
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
-$293

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.

$338,888

PROJECTED PRICE

$1,440

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$95,555

INVESTMENT

$95,555

Down Payment
$84,722
Rehab Estimate
$5,750
Closing Costs
$5,083

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,722
Loan Amount $254,166
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$4,211

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,484

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,440
1$1,4402$1,5503$1,5954$1,5955$1,600
$1,600
RENT COMPS ANALYSIS
  • 7029 Whispering Falls Drive North Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,915 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,915 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.75
    •  
  • 916 Rome Boulevard North Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,102 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,102 Sqft ∙ Built 2005
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.74
    •  
  • 33 Morrestown Avenue North Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,095 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,095 Sqft ∙ Built 2016
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.76
    •  
  • 216 Heathrow Lake Avenue North Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,095 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,095 Sqft ∙ Built 2017
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.76
    •  
  • 40 Stablewood Court North Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,916 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,916 Sqft ∙ Built 2009
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.84
    •  
PROPERTY LISTING DETAILS
Monica A Guinn
1.702.250.6441
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243616
Last Updated: 11/02/2020
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