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7146 Tavita Street Las Vegas, NV 89113

3 Beds 2 Baths 1,963 sqft Built 2016

INVESTimate

$417,000

List Price

$1,720

$1,548 - $1,892

Rent Est.

$458,325  ( +9.91%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2016
  • Price/Sqft : $212.43
  • 9 Days on Market
  • MLS # : 2221988
  • Updated Date : 08/18/2020 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,963 sqft
  • Baths : 2 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Beautiful single story home with open floor plan. It features many upgrades included. Has AV drywall built in, arched interior entry ways, 4 ft garage ext, two tone paint, plantation shutters in all windows, tankless water heater, granite counter tops with back splash, custom cabinets, premium whirlpool appliances, recessed lightings with 3 pendant lighting pkg, covered patio, flood light pkg.

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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: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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
 

$375,300$458,700$417,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,539
Property Tax -$301
Property Insurance -$65
HOA -$45
Property Management Fees -$119
CASH FLOW
-$349

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.

$417,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.91%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$116,255

INVESTMENT

$116,255

Down Payment
$104,250
Rehab Estimate
$5,750
Closing Costs
$6,255

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,539

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $104,250
Loan Amount $312,750
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$5,660

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,732

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,6954$1,7205$1,750
$1,750
RENT COMPS ANALYSIS
  • 7146 Tavita Street Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,963 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,963 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.88
    •  
  • 7131 Avana Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,928 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,928 Sqft ∙ Built 2015
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.86
    •  
  • 8091 Poppy Leaf Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,928 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,928 Sqft ∙ Built 2015
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.86
    •  
  • 8076 Diggy Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,963 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,963 Sqft ∙ Built 2015
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.86
    •  
  • 7478 Jade Meadows Street Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,844 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,844 Sqft ∙ Built 2017
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.95
    •  
PROPERTY LISTING DETAILS
Claudio C Andrada
1.702.301.0858
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2221988
Last Updated: 08/18/2020
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