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705 Elliot Peak Avenue Las Vegas, NV 89183

2 Beds 2 Baths 1,120 sqft Built 2000

$275,000

List Price

$1,190

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $245.54
  • 75 Days on Market
  • MLS # : 2249483
  • Updated Date : 02/06/2021 at 06:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,120 sqft
  • Baths : 2 full
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

BACK ON MARKET FEB. 5TH. SOLD IN 1 DAY THE FIRST TIME. Awesome 2 bedroom located in Huntington Estates.

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: Silverado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k305k

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

Neighborhood: Silverado Ranch

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
John R. Hummel Elementary School Primary Regular 776 40 7
Charles Silvestri Junior High School Middle Regular 1,748 68 NA
Liberty High School High Regular 2,496 105 5

John R. Hummel Elementary School

  • Education Level: Primary
  • # of students: 776
  • # of teachers: 40
7
GreatSchools Rating

Charles Silvestri Junior High School

  • Education Level: Middle
  • # of students: 1,748
  • # of teachers: 68
NA
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,496
  • # of teachers: 105
5
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,071$1,309$1,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,190
EXPENSES Loan Payment -$955
Property Tax -$168
Property Insurance -$49
Property Management Fees -$119
CASH FLOW
-$101

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.

$275,000

PROJECTED PRICE

$1,190

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$10,186

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,190

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,187

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,190
1$1,1902$1,2503$1,3004$1,3455$1,375
$1,375
RENT COMPS ANALYSIS
  • 705 Elliot Peak Avenue Las Vegas, NV 1
    • 2 beds 2 baths ∙ 1,120 Sqft ∙ Built 2000 2 beds 2 baths ∙ 1,120 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,190
    • $1.06
    •  
  • 9631 Silver City Drive Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,230 Sqft ∙ Built 1998 2 beds 2 baths ∙ 1,230 Sqft ∙ Built 1998
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.02
    •  
  • 9623 Blue Calico Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,250 Sqft ∙ Built 1999 2 beds 2 baths ∙ 1,250 Sqft ∙ Built 1999
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.04
    •  
  • 9696 Gunsmith Drive Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,250 Sqft ∙ Built 1999 2 beds 2 baths ∙ 1,250 Sqft ∙ Built 1999
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $1.08
    •  
  • 9671 Gunsmith Drive Las Vegas, NV 5
    • 2 beds 3 baths ∙ 1,250 Sqft ∙ Built 1999 2 beds 3 baths ∙ 1,250 Sqft ∙ Built 1999
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.10
    •  
PROPERTY LISTING DETAILS
Vikki High-prato
1.702.591.0845
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249483
Last Updated: 02/06/2021
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