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717 El Cabo Rey Avenue North Las Vegas, NV 89081

3 Beds 2 Baths 1,765 sqft Built 2006

$299,999

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $169.97
  • 13 Days on Market
  • MLS # : 2251454
  • Updated Date : 12/08/2020 at 20:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,765 sqft
  • Baths : 2 full
Listing Agent

Vegas Dream Homes Inc

Listing Agent's Description

Beautiful single story home with a 3 car garage! Great layout, huge laundry room. Neutral colors. White appliances, light tan solid surface kitchen. Vaulted ceilings in master bedroom. Separate kitchen nook dining off kitchen.

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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: North Fifth and Donna

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $84k324k

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

Neighborhood: North Fifth and Donna

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
Raul Elizondo Elementary School Primary Regular 774 42 5
Clifford O. Findlay Middle School Middle Regular 1,372 59 NA
Mojave High School High Regular 2,311 103 2

Raul Elizondo Elementary School

  • Education Level: Primary
  • # of students: 774
  • # of teachers: 42
5
GreatSchools Rating

Clifford O. Findlay Middle School

  • Education Level: Middle
  • # of students: 1,372
  • # of teachers: 59
NA
GreatSchools Rating

Mojave High School

  • Education Level: High
  • # of students: 2,311
  • # of teachers: 103
2
GreatSchools Rating
 

$269,999$329,999$299,999

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$1,107
Property Tax -$245
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
-$192

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.

$299,999

PROJECTED PRICE

$1,340

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 10.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $224,999
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$6,062

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,491

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3403$1,4504$1,5505$1,595
$1,595
RENT COMPS ANALYSIS
  • 717 El Cabo Rey Avenue North Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,765 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,765 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.76
    •  
  • 1113 Granite Ash Avenue #- Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 2002
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.82
    •  
  • 4935 Stormy Ridge Street Las Vegas, NV 3
    • 4 beds 2 baths ∙ 1,750 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,750 Sqft ∙ Built 2001
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.83
    •  
  • 717 Fort Mandan Court #n/a North Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,869 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,869 Sqft ∙ Built 2005
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.83
    •  
  • 4637 Possum Berry Lane North Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,768 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,768 Sqft ∙ Built 1996
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.90
    •  
PROPERTY LISTING DETAILS
John J Faulis
1.702.265.1067
Vegas Dream Homes Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2251454
Last Updated: 12/08/2020
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