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7079 Mountridge Drive Las Vegas, NV 89110

3 Beds 3 Baths 2,263 sqft Built 1997

$539,888

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $238.57
  • 7 Days on Market
  • MLS # : 2271964
  • Updated Date : 02/22/2021 at 19:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,263 sqft
  • Baths : 3 full
Listing Agent

Rooftop Realty

Listing Agent's Description

STRIP and CITY VIEWS! Check out this beautifully remodeled home nestled up to the mountains. This property is truly STUNNING. This 3 bed/ 3 bath home features a MAGNIFICENT KITCHEN, brand NEW appliances throughout, NEW flooring, NEW baseboards, NEW bathrooms, NEW paint, the list goes on! As spectacular as the interior remodel is, the exterior is breathtaking! The front yard features a long drive way, 3 car garage, and a fantastic yard. The backyard has it all! Gorgeous landscaping, remarkable views, and an astonishing atmosphere. Rolladen Security shutters on every door and window! Covered patio with a motorized shad screen! Wonderful covered patio, and another sitting area to admire the fabulous Las Vegas Valley. Don't let this one slip away!

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: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9591603

* 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
Eileen Brookman Elementary School Primary Regular 753 35 5
Dr. William H Bob Bailey Middle School Middle Regular 1,202 49 NA
Eldorado High School High Regular 1,920 76 1

Eileen Brookman Elementary School

  • Education Level: Primary
  • # of students: 753
  • # of teachers: 35
5
GreatSchools Rating

Dr. William H Bob Bailey Middle School

  • Education Level: Middle
  • # of students: 1,202
  • # of teachers: 49
NA
GreatSchools Rating

Eldorado High School

  • Education Level: High
  • # of students: 1,920
  • # of teachers: 76
1
GreatSchools Rating
 

$485,899$593,877$539,888

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,875
Property Tax -$289
Property Insurance -$71
Property Management Fees -$119
CASH FLOW
-$575

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$539,888

PROJECTED PRICE

$1,780

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.8%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$148,820

INVESTMENT

$148,820

Down Payment
$134,972
Rehab Estimate
$5,750
Closing Costs
$8,098

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,875

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $134,972
Loan Amount $404,916
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,491

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,624

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5503$1,5954$1,7805$1,895
$1,895
RENT COMPS ANALYSIS
  • 7079 Mountridge Drive Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,263 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,263 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.79
    •  
  • 5973 Spinnaker Point Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,069 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,069 Sqft ∙ Built 2001
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.72
    •  
  • 1911 Eskam Street Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,122 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,122 Sqft ∙ Built 2005
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.73
    •  
  • 1017 Pearl Peak Street Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,387 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,387 Sqft ∙ Built 2002
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.67
    •  
  • 972 Azure Heights Place Las Vegas, NV 5
    • 4 beds 4 baths ∙ 2,525 Sqft ∙ Built 2002 4 beds 4 baths ∙ 2,525 Sqft ∙ Built 2002
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.75
    •  
PROPERTY LISTING DETAILS
Steven Hilyard
1.702.503.6605
Rooftop Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2271964
Last Updated: 02/22/2021
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