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

7149 Piute Mesa Street North Las Vegas, NV 89084

3 Beds 3 Baths 1,845 sqft Built 2018

$389,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $210.84
  • 5 Days on Market
  • MLS # : 2243107
  • Updated Date : 10/30/2020 at 15:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,845 sqft
  • Baths : 2 full , 1 half
Listing Agent

Prominent Realty Group Llc

Listing Agent's Description

GORGEOUS SINGLE STORY HOME fully upgraded. OPEN floor plan features 9 ft ceilings, 3 Bedrooms and incredibly SPACIOUS Great Room. Bright and Beautiful Kitchen includes Granite Countertops w/Stainless Steel Appliances and Water Filtration System. FLOORS are a MUST SEE! Upgraded vinyl and scratch resistant. Super Master Bath w/Enlarged Shower w/Bench and Soak Tub and CUSTOM built Closet. Ceiling Fans and BLACK OUT window treatments throughout. TANKLESS hot water heater, PAVERS in driveway/walkway and PATIO. Synthetic TURF in yard. Separate A/C unit in GARAGE. House is run by SOLAR POWER. ABSOLUTE MUST SEE!

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: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
Don E. Hayden Elementary School Primary Regular 702 38 6
Brian And Teri Cram Middle School Middle Regular 1,568 65 NA
Legacy High School High Regular 2,819 119 3

Don E. Hayden Elementary School

  • Education Level: Primary
  • # of students: 702
  • # of teachers: 38
6
GreatSchools Rating

Brian And Teri Cram Middle School

  • Education Level: Middle
  • # of students: 1,568
  • # of teachers: 65
NA
GreatSchools Rating

Legacy High School

  • Education Level: High
  • # of students: 2,819
  • # of teachers: 119
3
GreatSchools Rating
 

$350,100$427,900$389,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$1,435
Property Tax -$307
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
-$435

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$389,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.1%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$108,835

INVESTMENT

$108,835

Down Payment
$97,250
Rehab Estimate
$5,750
Closing Costs
$5,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,435

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,250
Loan Amount $291,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,277

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,499

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,4903$1,5004$1,5955$1,599
$1,599
RENT COMPS ANALYSIS
  • 7149 Piute Mesa Street North Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,845 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,845 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.81
    •  
  • 6620 Night Owl Bluff Avenue North Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,977 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,977 Sqft ∙ Built 2004
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.75
    •  
  • 606 Painted Opus Place #0 North Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,871 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,871 Sqft ∙ Built 2002
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.80
    •  
  • 6725 Sand Swallow Street North Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,821 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,821 Sqft ∙ Built 2004
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.88
    •  
  • 6651 Majestic Pearl Place #0 North Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,953 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,953 Sqft ∙ Built 2001
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.82
    •  
PROPERTY LISTING DETAILS
Jodi Fontana
1.917.699.9352
Prominent Realty Group Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243107
Last Updated: 10/30/2020
BESbswy