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7069 Flowering Willow Street Las Vegas, NV 89148

3 Beds 2 Baths 1,182 sqft Built 2002

$280,000

List Price

$1,220

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $236.89
  • 36 Days on Market
  • MLS # : 2242823
  • Updated Date : 12/03/2020 at 10:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,182 sqft
  • Baths : 2 full
Listing Agent

Urban Nest Realty

Listing Agent's Description

Single story home in the Southwest! Low maintenance yard and full length driveway! Enter home to living room with vaulted ceiling, tile flooring and ceiling fan. Living room opens to kitchen with granite countertops, breakfast bar and all appliances. Master bedroom features walk in closet. Master bathroom features double sinks.

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: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k339k

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

Neighborhood: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10551829

* 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
Wayne N. Tanaka Elementary School Primary Regular 1,029 52 5
Wilbur And Theresa Faiss Middle School Middle Regular 1,409 61 NA
Sierra Vista High School High Regular 2,396 88 4

Wayne N. Tanaka Elementary School

  • Education Level: Primary
  • # of students: 1,029
  • # of teachers: 52
5
GreatSchools Rating

Wilbur And Theresa Faiss Middle School

  • Education Level: Middle
  • # of students: 1,409
  • # of teachers: 61
NA
GreatSchools Rating

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,098$1,342$1,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,220
EXPENSES Loan Payment -$1,033
Property Tax -$174
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
-$156

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.

$280,000

PROJECTED PRICE

$1,220

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$9,171

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,220

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,226

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,220
1$1,2202$1,2953$1,3504$1,3955$1,400
$1,400
RENT COMPS ANALYSIS
  • 7069 Flowering Willow Street Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,182 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,182 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,220
    • $1.03
    •  
  • 7069 Pacific Coast Street Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,182 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,182 Sqft ∙ Built 2002
    LEASED 12/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.10
    •  
  • 9368 Malaya Garnet Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,358 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,358 Sqft ∙ Built 2004
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.99
    •  
  • 7252 Plushstone Street Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,358 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,358 Sqft ∙ Built 2004
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.03
    •  
  • 9327 Malaya Garnet Court Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,358 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,358 Sqft ∙ Built 2004
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.03
    •  
PROPERTY LISTING DETAILS
Jim C Fong
1.702.430.6168
Urban Nest Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2242823
Last Updated: 12/03/2020
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