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7090 Magic Moment Lane Las Vegas, NV 89119

2 Beds 2 Baths 1,679 sqft Built 1990

$399,890

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $238.17
  • 2 Days on Market
  • MLS # : 2273481
  • Updated Date : 02/27/2021 at 23:30
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,679 sqft
  • Baths : 1 full , 1 half
Listing Agent

Black & Cherry Real Estate

Listing Agent's Description

Sensational home with the primary bedroom downstairs. Bright, open floor plan just made for entertaining. Loft upstairs that could be a game room or converted to a 3rd bedroom. Crisp front lawn well maintained. Backyard with a covered patio ready to go for your first bbq of the year in your new home. This home is priced right and in this market won't last long. Call and schedule your showing today before its too late!

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
 

$359,901$439,879$399,890

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$1,389
Property Tax -$159
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
-$237

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.

$399,890

PROJECTED PRICE

$1,490

PROJECTED RENT

0.37%

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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,721

INVESTMENT

$111,721

Down Payment
$99,973
Rehab Estimate
$5,750
Closing Costs
$5,998

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,973
Loan Amount $299,918
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$9,350

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,650

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,345
1$1,3452$1,3503$1,3504$1,4155$1,490
$1,490
RENT COMPS ANALYSIS
  • 7090 Magic Moment Lane Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,679 Sqft ∙ Built 1990 2 beds 2 baths ∙ 1,679 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.89
    •  
  • 2782 Fountain Vista Lane #0 Henderson, NV 1
    • 2 beds 3 baths ∙ 1,405 Sqft ∙ Built 2004 2 beds 3 baths ∙ 1,405 Sqft ∙ Built 2004
    LEASED 10/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.96
    •  
  • 2794 Fountain Vista Lane #n/a Henderson, NV 2
    • 2 beds 3 baths ∙ 1,405 Sqft ∙ Built 2004 2 beds 3 baths ∙ 1,405 Sqft ∙ Built 2004
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.96
    •  
  • 2995 Sunset Road #118 Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,356 Sqft ∙ Built 1990 2 beds 2 baths ∙ 1,356 Sqft ∙ Built 1990
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.00
    •  
  • 2756 Fountain Ridge Lane #0 Henderson, NV 4
    • 2 beds 3 baths ∙ 1,405 Sqft ∙ Built 2006 2 beds 3 baths ∙ 1,405 Sqft ∙ Built 2006
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,415
    • $1.01
    •  
PROPERTY LISTING DETAILS
Jacob A Geckler
1.702.824.2941
Black & Cherry Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2273481
Last Updated: 02/27/2021
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