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7058 Bowles Creek Street North Las Vegas, NV 89084

3 Beds 3 Baths 2,471 sqft Built 2014

$360,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $145.69
  • 5 Days on Market
  • MLS # : 2254374
  • Updated Date : 12/10/2020 at 00:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,471 sqft
  • Baths : 3 full
Listing Agent

Signature Real Estate Group

Listing Agent's Description

Energy-saving well kept former model home! Gourmet kitchen that features, energy-efficient stainless steel appliances, double oven, and walk-in pantry. Bedroom and full bath downstairs perfect for room-mate living. Spacious primary bedroom with built-in entertainment center and custom walk-in closet. This home is perfectly located in close proximity to all community amenities that include a walking trail, pool, and park. Modern esthetic finishings throughout the entire home with upgrades galore. Move-in ready Gem waiting for you to entertain and make memories on the oversized deck with the strip view. Act fast, this home will surely impress!!

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: 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
 

$324,000$396,000$360,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,328
Property Tax -$319
Property Insurance -$75
Property Management Fees -$119
CASH FLOW
-$71

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.

$360,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.49%

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

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$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$20,404

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,872

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,6753$1,7704$1,7955$1,995
$1,995
RENT COMPS ANALYSIS
  • 7058 Bowles Creek Street North Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,471 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,471 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.72
    •  
  • 6416 Setting Moon Street North Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,315 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,315 Sqft ∙ Built 2010
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.72
    •  
  • 6509 Winter Moon Street #0 North Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,315 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,315 Sqft ∙ Built 2007
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.72
    •  
  • 6512 Winter Moon Street North Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,424 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,424 Sqft ∙ Built 2007
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.74
    •  
  • 209 Whitetail Archery Avenue North Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 2009
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.85
    •  
PROPERTY LISTING DETAILS
Treshay B Allen
1.702.305.6130
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2254374
Last Updated: 12/10/2020
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