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7068 Fort Union Court Las Vegas, NV 89179

6 Beds 3 Baths 3,790 sqft Built 2006

INVESTimate

$499,000

List Price

$2,650

$2,400 - $2,900

Rent Est.

$541,116  ( +8.44%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $131.66
  • 4 Days on Market
  • MLS # : 2224292
  • Updated Date : 08/23/2020 at 20:30
CONSTRUCTION
  • Beds : 6
  • Floor Size : 3,790 sqft
  • Baths : 3 full
Listing Agent

Exit Realty Number One

Listing Agent's Description

WOW! Everything you want in a home. Position on a cul de sac this features 6 bedrooms, a loft, a living room, a formal dining room, a bedroom and 3/4 bathroom downstairs and more. Do you enjoy cooking and entertaining? This kitchen is for you, large in size and island too. Spotlights a double oven, a butlers pantry, window overlooking the backyard and looking into the great room. Splash into your pool and spa. This home has it all. For your family pleasures and entertaining. Call today!

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: Mountain Edge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Mountain Edge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10391875

* 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
Carolyn Reedom Elementary School Primary Regular 1,097 58 6
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Carolyn Reedom Elementary School

  • Education Level: Primary
  • # of students: 1,097
  • # of teachers: 58
6
GreatSchools Rating

Lois And Jerry Tarkanian Middle School

  • Education Level: Middle
  • # of students: 1,739
  • # of teachers: 71
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$449,100$548,900$499,000

PURCHASE PRICE

$2,385$2,915$2,650

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,650
EXPENSES Loan Payment -$1,841
Property Tax -$389
Property Insurance -$101
Property Management Fees -$119
CASH FLOW
$200

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.

$499,000

PROJECTED PRICE

$2,650

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.44%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,841

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

8

YEARS SAVED

$61,159

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,650

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $3,108

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,7003$3,2504$3,700
$3,700
RENT COMPS ANALYSIS
  • 7068 Fort Union Court Las Vegas, NV 1
    • 6 beds 3 baths ∙ 3,790 Sqft ∙ Built 2006 6 beds 3 baths ∙ 3,790 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.70
    •  
  • 7283 Elessar Avenue Las Vegas, NV 2
    • 5 beds 3 baths ∙ 4,036 Sqft ∙ Built 2010 5 beds 3 baths ∙ 4,036 Sqft ∙ Built 2010
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.67
    •  
  • 5732 Winter Star Court Las Vegas, NV 3
    • 5 beds 4 baths ∙ 4,043 Sqft ∙ Built 2002 5 beds 4 baths ∙ 4,043 Sqft ∙ Built 2002
    property image
    LEASED 06/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $0.80
    •  
  • 11079 Crosseto Drive Las Vegas, NV 4
    • 5 beds 4 baths ∙ 3,730 Sqft ∙ Built 2003 5 beds 4 baths ∙ 3,730 Sqft ∙ Built 2003
    property image
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $0.99
    •  
PROPERTY LISTING DETAILS
Dawn L Houlf
1.702.236.6266
Exit Realty Number One
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224292
Last Updated: 08/23/2020
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