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7120 Quarterhorse Lane Las Vegas, NV 89148

3 Beds 2 Baths 1,105 sqft Built 2002

$314,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $284.16
  • 5 Days on Market
  • MLS # : 2264164
  • Updated Date : 01/29/2021 at 03:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,105 sqft
  • Baths : 2 full
Listing Agent

United Realty Group

Listing Agent's Description

AWESOME LOCATION!! Great 1 story floorplan!! 3 bed 2 bath home, 2 car garage, Next 215 freeway. Remodeled new walls in living room for more space, new high end quality tile floor thru out the house,New patio floor and cover, outdoor of home painted, includes washer & dryer, new fixtures in bathroom, faucets, shower head, new kitchen faucets. Great location surrounded by parks, Wet n' Wild, IKEA, coming soon Life Time Fitness, The BEND largest entertainment and shopping expierience in SW ( galaxy theater, lotus siam, aces and ales, tacos n beer, Freeds, Redemption Fitness etc...)

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
 

$282,600$345,400$314,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$1,091
Property Tax -$172
Property Insurance -$49
Property Management Fees -$119
CASH FLOW
-$81

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.

$314,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.43%

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$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$88,960

INVESTMENT

$88,960

Down Payment
$78,500
Rehab Estimate
$5,750
Closing Costs
$4,710

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,091

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,500
Loan Amount $235,500
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$14,189

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $1,146

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,3003$1,3504$1,3955$1,395
$1,395
RENT COMPS ANALYSIS
  • 7120 Quarterhorse Lane Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,105 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,105 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.22
    •  
  • 9050 Warm Springs Road #1103 Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,189 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,189 Sqft ∙ Built 2004
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.01
    •  
  • 8751 Promised Land Avenue #none Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,301 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,301 Sqft ∙ Built 2004
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.00
    •  
  • 8819 Peace Treaty Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,301 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,301 Sqft ∙ Built 2004
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.07
    •  
  • 8777 West Maule Avenue #2156 Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,301 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,301 Sqft ∙ Built 2007
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.07
    •  
PROPERTY LISTING DETAILS
Daniel Arguello
1.702.408.4616
United Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2264164
Last Updated: 01/29/2021
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