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7074 Knoll View Drive Las Vegas, NV 89119

2 Beds 2 Baths 1,164 sqft Built 1993

$265,700

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1993
  • Price/Sqft : $228.26
  • 2 Days on Market
  • MLS # : 2244119
  • Updated Date : 11/02/2020 at 19:28
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,164 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Market Place

Listing Agent's Description

NO-HOA! Location-Location-Location, This two-tone beautiful 2 story vaulted ceiling home sits on a large cul-de-sac with easy, easy access to Freeways, Strip, Airport, Shopping, Sunset Park, 215 HWY, restaurants and so much MORE. The home also has a Serviced alarm system, a Fireplace in the living room, a nice size back yard with a mature pomegranate tree that produces delicious fruit and provides great shade in the Summer. Woo Hoo!!! Call the agent with any questions.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$239,130$292,270$265,700

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$980
Property Tax -$146
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
$85

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.

$265,700

PROJECTED PRICE

$1,380

PROJECTED RENT

0.52%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$76,161

INVESTMENT

$76,161

Down Payment
$66,425
Rehab Estimate
$5,750
Closing Costs
$3,986

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$980

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,425
Loan Amount $199,275
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$30,594

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $1.19

    LIST RENT PER SQFT
  • $1,368

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,3503$1,3804$1,4005$1,550
$1,550
RENT COMPS ANALYSIS
  • 7074 Knoll View Drive Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,164 Sqft ∙ Built 1993 2 beds 2 baths ∙ 1,164 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $1.19
    •  
  • 7450 Eastern Avenue #2044 Las Vegas, NV 1
    • 2 beds 1 baths ∙ 1,122 Sqft ∙ Built 1998 2 beds 1 baths ∙ 1,122 Sqft ∙ Built 1998
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.07
    •  
  • 1717 Garden Path Court #0 Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,164 Sqft ∙ Built 1991 2 beds 2 baths ∙ 1,164 Sqft ∙ Built 1991
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.16
    •  
  • 7106 Knoll View Drive Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,164 Sqft ∙ Built 1990 2 beds 2 baths ∙ 1,164 Sqft ∙ Built 1990
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.20
    •  
  • 7249 Nordic Lights Drive Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,216 Sqft ∙ Built 1992 2 beds 2 baths ∙ 1,216 Sqft ∙ Built 1992
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.27
    •  
PROPERTY LISTING DETAILS
Graciela White
1.832.392.9169
Keller Williams Market Place
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244119
Last Updated: 11/02/2020
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