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7169 Dravite Court Las Vegas, NV 89148

3 Beds 3 Baths 1,358 sqft Built 2003

$279,900

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $206.11
  • 2 Days on Market
  • MLS # : 2250034
  • Updated Date : 11/21/2020 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,358 sqft
  • Baths : 2 full , 1 half
Listing Agent

Aspire Realty Group

Listing Agent's Description

Beautiful two story home on the southwest. Impeccable maintenance and exceptionally clean home. Located in a quiet cul de sac and boasts solid surface floors downstairs, laundry room and bedrooms upstairs. Newer stainless appliances in the kitchen are included. You won't be didappointed.

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
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$1,033
Property Tax -$175
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
-$61

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.

$279,900

PROJECTED PRICE

$1,320

PROJECTED RENT

0.47%

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$16,614

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,355

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,320
1$1,3202$1,3503$1,3954$1,4005$1,500
$1,500
RENT COMPS ANALYSIS
  • 7169 Dravite Court Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,358 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,358 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $0.97
    •  
  • 9368 Malaya Garnet Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,358 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,358 Sqft ∙ Built 2004
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.99
    •  
  • 7182 Dravite Court Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,476 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,476 Sqft ∙ Built 2003
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.95
    •  
  • 9327 Malaya Garnet Court Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,358 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,358 Sqft ∙ Built 2004
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.03
    •  
  • 9331 Malaya Garnet Court Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,476 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,476 Sqft ∙ Built 2004
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.02
    •  
PROPERTY LISTING DETAILS
Scott Wells
1.702.901.3579
Aspire Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2250034
Last Updated: 11/21/2020
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