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7049 Magic Moment Lane Las Vegas, NV 89119

3 Beds 3 Baths 1,679 sqft Built 1990

$314,900

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $187.55
  • 3 Days on Market
  • MLS # : 2265229
  • Updated Date : 01/29/2021 at 22:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,679 sqft
  • Baths : 2 full , 1 half
Listing Agent

Simply Vegas

Listing Agent's Description

Welcome to this fabulous two-story home that lives like a single story. Extremely highly upgraded, you will just fall in love. Huge open concept great room w/ high ceilings, two-tone paint, upgraded flooring, roaring fireplace, new dual French doors, window seat, stunning kitchen w/ granite countertops, extensive amount of upgraded cabinets, Upgraded stainless steel appliances, large eat in dining room , window shutters, upgraded light fixtures. Enjoy master bedroom downstairs w/ vaulted ceilings, upgraded en-suite w/ granite countertops & large shower, & walk in built out closet. All baths are upgraded w/ granite counters & new & upgraded cabinets, sinks & flooring. Huge Backyard is a dream w/ extended covered patio , above ground spa, pavers and faux grass. Welcome home

SEE MORE

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: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
Louis Wiener Jr Elementary School Primary Regular 701 39 7
Jack L. Schofield Middle School Middle Regular 1,332 51 NA
Silverado High School High Regular 2,263 94 5

Louis Wiener Jr Elementary School

  • Education Level: Primary
  • # of students: 701
  • # of teachers: 39
7
GreatSchools Rating

Jack L. Schofield Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 51
NA
GreatSchools Rating

Silverado High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
5
GreatSchools Rating
 

$283,410$346,390$314,900

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,094
Property Tax -$159
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
$128

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.

$314,900

PROJECTED PRICE

$1,560

PROJECTED RENT

0.50%

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$0.0$5.0k$10k$15k$20k

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$89,199

INVESTMENT

$89,199

Down Payment
$78,725
Rehab Estimate
$5,750
Closing Costs
$4,724

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,725
Loan Amount $236,175
See What Happens When You Reinvest Cash Flow

8.08

YEARS SAVED

$33,050

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,650

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5003$1,5604$1,6955$1,775
$1,775
RENT COMPS ANALYSIS
  • 7049 Magic Moment Lane Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,679 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,679 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.93
    •  
  • 7113 Honeysuckle Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,576 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,576 Sqft ∙ Built 1989
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.95
    •  
  • 7102 Magic Moment Lane Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,679 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,679 Sqft ∙ Built 1990
    LEASED 01/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.89
    •  
  • 7038 Magic Moment Lane #0 Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1990
    LEASED 12/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.08
    •  
  • 7182 Magic Moment Lane Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 1985
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.01
    •  
PROPERTY LISTING DETAILS
Jillian M Batchelor
1.702.595.8036
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2265229
Last Updated: 01/29/2021
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