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7190 Shadow Crest Drive Las Vegas, NV 89119

3 Beds 3 Baths 1,514 sqft Built 1986

$334,988

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $221.26
  • 2 Days on Market
  • MLS # : 2261721
  • Updated Date : 01/16/2021 at 23:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,514 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

You don't want to miss this home it was just painted inside throughout, oversized living room with a cozy stone fireplace and vaulted ceilings. Renovated in 2006 with an oversized open floor plan with custom archways leading into the kitchen.  Spacious kitchen to include custom cabinets that feature lazy susan and Swing-Out Wood Pantry System plus titanium kitchen appliances.  Washer and dryer convey with the home. Brand new stair railing leading upstairs to two bedrooms, full bath and the primary bedroom with a must see custom shower! Inviting backyard with a firepit and covered wood pergola patio.  No HOA for this home plus it's located close to the 215, Las Vegas Strip, McCarran Airport, Town Square, Shopping and more. Contact today to schedule your private showing!! Welcome home!

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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
 

$301,489$368,487$334,988

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$1,164
Property Tax -$137
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
-$6

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.

$334,988

PROJECTED PRICE

$1,470

PROJECTED RENT

0.44%

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$94,522

INVESTMENT

$94,522

Down Payment
$83,747
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,164

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,747
Loan Amount $251,241
See What Happens When You Reinvest Cash Flow

5.83

YEARS SAVED

$22,114

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,537

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,470
1$1,4702$1,5003$1,5004$1,6955$1,795
$1,795
RENT COMPS ANALYSIS
  • 7190 Shadow Crest Drive Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,514 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,514 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.97
    •  
  • 7113 Honeysuckle Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,576 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,576 Sqft ∙ Built 1989
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.95
    •  
  • 7102 Magic Moment Lane Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,679 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,679 Sqft ∙ Built 1990
    LEASED 01/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.89
    •  
  • 7038 Magic Moment Lane #0 Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1990
    LEASED 12/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.08
    •  
  • 7056 Harbor View Drive Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1990
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.14
    •  
PROPERTY LISTING DETAILS
Jillian M Batchelor
1.702.595.8036
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261721
Last Updated: 01/16/2021
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