Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

7147 Russell Ranch Avenue Las Vegas, NV 89113

3 Beds 2 Baths 1,395 sqft Built 1998

$299,000

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $214.34
  • 6 Days on Market
  • MLS # : 2272386
  • Updated Date : 02/25/2021 at 20:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,395 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Las Vegas

Listing Agent's Description

Natural light seems to flood every inch of this wonderful single-story home. Located in the heart of the Las Vegas Valley this home offers fresh interior paint and carpet throughout, a living room with a charming gas fireplace, large windows, and an adjoining dining area. The kitchen offers lots of countertop and cabinet space, bar seating, and pantry. The primary bedroom has dual closets and a private bath. The backyard is ready to be turned into your dream oasis.

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: Sovana

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k321k

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

Neighborhood: Sovana

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100115012001250130013501400145015001550160016501700Rent in $10701722

* 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
Marion B. Earl Elementary School Primary Regular 727 38 6
Grant Sawyer Middle School Middle Regular 1,308 52 NA
Durango High School High Regular 2,302 95 5

Marion B. Earl Elementary School

  • Education Level: Primary
  • # of students: 727
  • # of teachers: 38
6
GreatSchools Rating

Grant Sawyer Middle School

  • Education Level: Middle
  • # of students: 1,308
  • # of teachers: 52
NA
GreatSchools Rating

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$1,039
Property Tax -$189
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
$10

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.

$299,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.6%
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$16k

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$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,039

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$20,276

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,465

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4103$1,4504$1,4955$1,525
$1,525
RENT COMPS ANALYSIS
  • 7147 Russell Ranch Avenue Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,395 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,395 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $1.01
    •  
  • 7070 Russell Ranch Avenue #0 Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,395 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,395 Sqft ∙ Built 1996
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.00
    •  
  • 7443 Hawk Shadow Avenue Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,395 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,395 Sqft ∙ Built 1997
    LEASED 10/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.04
    •  
  • 7163 Ponderosa Way #0 Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,403 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,403 Sqft ∙ Built 2000
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.07
    •  
  • 7207 Deer View Court #0 Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,395 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,395 Sqft ∙ Built 1997
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.09
    •  
PROPERTY LISTING DETAILS
Genesis Jameson
1.702.338.9706
Keller Williams Realty Las Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2272386
Last Updated: 02/25/2021
BESbswy