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7143 Elder Street Las Vegas, NV 89166

4 Beds 2 Baths 2,212 sqft Built 2013

$400,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $180.83
  • 3 Days on Market
  • MLS # : 2268024
  • Updated Date : 02/13/2021 at 06:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,212 sqft
  • Baths : 2 full
Listing Agent

Wynn Realty Group

Listing Agent's Description

Great 2 Story home in Brighton/Providence. Spacious floor plan with open dining Rm & Family Rm. Has large Loft upstairs, Tile flooring throughout main floor, downstairs set up for study/office with built-in book shelves or 4th BD. Home has tall ceiling with an open airy feel. Entire backyard is patio, made for outdoor living, with partially covered patio, tall privacy wall with tall yellow bells, A Hummingbirds paradise Take a look at this freshly painted property, It is move in ready. It will not disappoint You !!

SEE MORE

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: Brighton at Providence

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Brighton at Providence

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Henry And Evelyn Bozarth Elementary School Primary Regular 905 40 8
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Centennial High School High Regular 3,055 124 6

Henry And Evelyn Bozarth Elementary School

  • Education Level: Primary
  • # of students: 905
  • # of teachers: 40
8
GreatSchools Rating

Edmundo Eddie Escobedo Sr Middle School

  • Education Level: Middle
  • # of students: 1,171
  • # of teachers: 47
NA
GreatSchools Rating

Centennial High School

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

$360,000$440,000$400,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,389
Property Tax -$311
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
-$139

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.

$400,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

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 $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$14,768

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,830

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7503$1,8954$1,9505$1,950
$1,950
RENT COMPS ANALYSIS
  • 7143 Elder Street Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,212 Sqft ∙ Built 2013 4 beds 2 baths ∙ 2,212 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.79
    •  
  • 10639 Ostend Avenue Las Vegas, NV 1
    • 3 beds 2 baths ∙ 2,142 Sqft ∙ Built 2011 3 beds 2 baths ∙ 2,142 Sqft ∙ Built 2011
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.79
    •  
  • 10719 York Manor Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,361 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,361 Sqft ∙ Built 2012
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.80
    •  
  • 7102 Brighton Village Street Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,142 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,142 Sqft ∙ Built 2007
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.91
    •  
  • 10533 Fulbright Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,411 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,411 Sqft ∙ Built 2013
    LEASED 01/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.81
    •  
PROPERTY LISTING DETAILS
John T Mitteness
1.702.494.9044
Wynn Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2268024
Last Updated: 02/13/2021
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