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7188 Honeysuckle Court Las Vegas, NV 89119

3 Beds 2 Baths 1,265 sqft Built 1989

$309,999

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $245.06
  • 6 Days on Market
  • MLS # : 2266131
  • Updated Date : 02/07/2021 at 01:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,265 sqft
  • Baths : 2 full
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

WELCOME HOME! ALREADY REMODELED FOR YOU WITH NEW VINYL PLANK TILE FLOORS*NEW PAINT*UPGRADED HIGH BASEBOARDS*GRANITE KITCHEN COUNTERS*PAINTED KITCHEN CABINETS WITH THE NEW DECORATING STYLE OF TWO COLORS*WOOD MANTEL ON A COZY BRICK FIREPLACE*FRONT SECURITY SCREEN DOOR FOR THOSE DAYS OF WANTING FRESH AIR*KEYLESS FRONT DOOR*BLINDS THRU OUT*CEILING FANS THRU OUT*SKYLIGHTS FOR EXTRA NATURAL LIGHT*LARGE PRIMARY BEDROOM WITH WALK IN CLOSET*NEW WASHER/DRYER THAT STAYS*EXTRA STORAGE CABINETS IN LAUNDRY AREA*GARAGE HAS STORAGE SHELVES*EXTRA CONCRETE SIDE AREA OF HOME WITH A SHED FOR TONS OF STORAGE*PLENTY OF ROOM TO ENTERTAIN FAMILY & FRIENDS WITH THE FRONT COURTYARD/PATIO AREA, BACKYARD COVERED PATIO AND PAVER FIREPIT SITTING AREA*USE YOUR IMAGINATION TO ADD TO THE DESIGN OF THE BACKYARD SO YOU CAN ENJOY YOUR OWN LITTLE PARADISE, INCLUDING A GARDEN OR SANDBOX/TOY AREA***LARGE SIDE YARD ALONG WITH A LONG DRIVEWAY TO GIVE PLENTY OF ROOM TO PARK YOUR RV/BOATS/TOYS****NO HOA****

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MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
Louis Wiener Jr Elementary School Primary Regular 701 39 7
Jack L. Schofield Middle School Middle Regular 1,332 51 NA
Silverado High School High Regular 2,263 94 5

Louis Wiener Jr Elementary School

  • Education Level: Primary
  • # of students: 701
  • # of teachers: 39
7
GreatSchools Rating

Jack L. Schofield Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 51
NA
GreatSchools Rating

Silverado High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
5
GreatSchools Rating
 

$278,999$340,999$309,999

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$1,077
Property Tax -$140
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
$42

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.

$309,999

PROJECTED PRICE

$1,430

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,500
Loan Amount $232,499
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$24,679

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,417

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,4003$1,4254$1,4305$1,575
$1,575
RENT COMPS ANALYSIS
  • 7188 Honeysuckle Court Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,265 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,265 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $1.13
    •  
  • 1318 Montezuma Court #n/a Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,189 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,189 Sqft ∙ Built 1986
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.09
    •  
  • 7003 Wineberry Drive Las Vegas, NV 2
    • 3 beds 1 baths ∙ 1,312 Sqft ∙ Built 1994 3 beds 1 baths ∙ 1,312 Sqft ∙ Built 1994
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.07
    •  
  • 7147 Abbeyville Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,271 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,271 Sqft ∙ Built 1983
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.12
    •  
  • 6904 Luminary Las Vegas, NV 5
    • 3 beds 1 baths ∙ 1,312 Sqft ∙ Built 1995 3 beds 1 baths ∙ 1,312 Sqft ∙ Built 1995
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.20
    •  
PROPERTY LISTING DETAILS
Shannon Gaccione
1.702.303.4717
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2266131
Last Updated: 02/07/2021
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