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7201 Mocha Drive Las Vegas, NV 89128

3 Beds 2 Baths 1,152 sqft Built 1984

$290,000

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $251.74
  • 5 Days on Market
  • MLS # : 2257457
  • Updated Date : 12/23/2020 at 17:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,152 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Market Place

Listing Agent's Description

*AMAZING HOME ON OVERSIZED CORNER LOT*AMPLE SPACE FOR PARKING*RV PARKING & RV GATE*2 CAR GARAGE*ACCESS TO BACKYARD FROM FRONT OF HOME*HOME HAS BEEN REPAINTED ON THE EXTERIOR & INTERIOR*SECURED ENTRY*NEW LAMINATE FLOORING*FRONT OUTSIDE SITTING AREA*SPACIOUS OPEN FLOORPLAN WITH TONS OF NATURAL LIGHTING*LARGE LIVING/DINING ROOM COMBO*KITCHEN WITH STAINLESS STEEL APPLIANCES, B/I MICROWAVE & NEW GAS STOVE, GRANITE COUNTERTOPS, GARDEN WINDOW, TONS OF STORAGE SPACE, & ACCESS TO BACKYARD*OPEN MASTER BED WITH DOUBLE CLOSETS, CEILING LIGHT & ACCESS TO BACKYARD THROUGH SLIDING GLASS DOOR*MASTER BATH WITH TUB/SHOWER COMBO, CABINETS, & TONS OF COUNTERTOP SPACE*2ND BATH HAS CUSTOM TILE WORK IN SHOWER*AMAZING SPACIOUS BACKYARD WITH TONS OF ROOM FOR ENTERTAINMENT*COVERED PATIO*STORAGE SHED & POOL TABLE*OUTSIDE SITTING AREA*DESERT LANDSCAPING*

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: Pioneer Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Pioneer Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9551606

* 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
Edythe And Lloyd Katz Elementary School Primary Regular 711 36 4
Ernest Becker Middle School Middle Regular 1,392 56 NA
Cimarron Memorial High School High Regular 2,541 102 3

Edythe And Lloyd Katz Elementary School

  • Education Level: Primary
  • # of students: 711
  • # of teachers: 36
4
GreatSchools Rating

Ernest Becker Middle School

  • Education Level: Middle
  • # of students: 1,392
  • # of teachers: 56
NA
GreatSchools Rating

Cimarron Memorial High School

  • Education Level: High
  • # of students: 2,541
  • # of teachers: 102
3
GreatSchools Rating
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$1,070
Property Tax -$129
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
$52

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.

$290,000

PROJECTED PRICE

$1,420

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.5%
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$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$29,412

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $1,198

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,225
1$1,2252$1,2803$1,2954$1,4205$1,450
$1,450
RENT COMPS ANALYSIS
  • 7201 Mocha Drive Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,152 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,152 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $1.23
    •  
  • 7609 Haskell Flats Drive Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,134 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,134 Sqft ∙ Built 1994
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $1.08
    •  
  • 1920 Leaning Pine Way #0 Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1995
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $0.97
    •  
  • 7029 English Mist Circle Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1986
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.01
    •  
  • 1800 Villa Vista Way #0 Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1995
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.10
    •  
PROPERTY LISTING DETAILS
Richard J Brenkus
1.702.456.5959
Keller Williams Market Place
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2257457
Last Updated: 12/23/2020
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