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7117 Village Shore Court Las Vegas, NV 89129

3 Beds 2 Baths 1,390 sqft Built 1994

INVESTimate

$299,999

List Price

$1,270

$1,143 - $1,397

Rent Est.

$333,719  ( +11.24%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $215.83
  • 8 Days on Market
  • MLS # : 2222769
  • Updated Date : 08/24/2020 at 02:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,390 sqft
  • Baths : 2 full
Listing Agent

Listing Masters Llc

Listing Agent's Description

GREAT SINGLE STORY HOME LOCATED IN THE NORTHWEST, THIS HOME OFFERS THREE BEDROOMS, TWO BATHS, LARGE FRONT LIVING ROOM, SEPARATE KITCHEN NOOK AND BIG MASTER SUITE. KITCHEN HAS BEEN UPGRADED WITH GORGEOUS NEW SEMI CUSTOM CABINETS, COUNTER TOPS AND BACK SPLASH. BRAND NEW STAINLESS STEEL APPLIANCES. MASTER BATHROOM AND GUEST BATHROOMS HAVE ALSO BEEN UPGRADED. NEW TRIM AROUND BASEBOARDS AND NEW CARPET IN BEDROOMS. NEW AC UNIT AND WATER HEATER. OVER $30,000 OF UPGRADES DONE TO THIS HOME. NO HOA! THIS HOME IS MOVE IN READY!!

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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: Lone Mountain Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $114k296k

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

Neighborhood: Lone Mountain Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9401606

* 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
Ruthe Deskin Elementary School Primary Regular 624 36 6
Justice M E Leavitt Middle School Middle Regular 1,496 64 NA
Centennial High School High Regular 3,055 124 6

Ruthe Deskin Elementary School

  • Education Level: Primary
  • # of students: 624
  • # of teachers: 36
6
GreatSchools Rating

Justice M E Leavitt Middle School

  • Education Level: Middle
  • # of students: 1,496
  • # of teachers: 64
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$269,999$329,999$299,999

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

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$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$1,107
Property Tax -$166
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
-$176

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.

$299,999

PROJECTED PRICE

$1,270

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.24%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $224,999
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$9,323

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,275

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,225
1$1,2252$1,2703$1,2994$1,3005$1,495
$1,495
RENT COMPS ANALYSIS
  • 7117 Village Shore Court Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,390 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,390 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $0.91
    •  
  • 7325 Halsey Court #n/a Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,292 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,292 Sqft ∙ Built 2005
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $0.95
    •  
  • 7329 Ribbon Ridge Avenue #n/a Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,476 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,476 Sqft ∙ Built 2004
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.88
    •  
  • 4240 Lady Burton Street #0 Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,480 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,480 Sqft ∙ Built 2004
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.88
    •  
  • 7024 Overhill Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1996
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.96
    •  
PROPERTY LISTING DETAILS
Lincoln S Rogers
1.702.582.7032
Listing Masters Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222769
Last Updated: 08/24/2020
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