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7202 Cestrum Road Las Vegas, NV 89113

3 Beds 3 Baths 1,502 sqft Built 2004

$280,000

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 29, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $186.42
  • 2 Days on Market
  • MLS # : 2250869
  • Updated Date : 11/28/2020 at 18:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,502 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

LOCATION! LOCATION! LOCATION! CONVENIENT SW NEIGHBORHOOD AT COPPERHEAD TRAILS! TURN KEY HOME WITH EASY ACCESS TO I-215! AIPORT, LAS VEGAS STRIP, IKEA, AND WATER PARK, ALL ARE LESS THAN 6 EXITS AWAY!! NEW CARPET, NEW DOORS, NEW PAINT, NEW MICROWAVE & NEW REFRIDGERATOR INCLUDED! SPACIOUS UPSTAIRS MASTER & BREAKFAST BAR AT KITCHEN OVERLOOKING GREAT ROOM. LOW MAINTAINANCE SIDE YARD AND NEIGHBORHOOD PARK TO ENJOY THE OUTDOORS. HOAS ONLY $50 PER MONTH AND INCLUDES POOL, BASKETBALL COURT, BBQ, PLAYGROUND, GUEST PARKING. WELCOME HOME!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
Judi D. Steele Elementary School Primary Regular 858 43 8
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Sierra Vista High School High Regular 2,396 88 4

Judi D. Steele Elementary School

  • Education Level: Primary
  • # of students: 858
  • # of teachers: 43
8
GreatSchools Rating

Lawrence And Heidi Canarelli Middle School

  • Education Level: Middle
  • # of students: 1,802
  • # of teachers: 70
NA
GreatSchools Rating

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$1,033
Property Tax -$177
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
-$25

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.

$280,000

PROJECTED PRICE

$1,360

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

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 $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$20,298

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,356

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3353$1,3604$1,4005$1,425
$1,425
RENT COMPS ANALYSIS
  • 7202 Cestrum Road Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,502 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,502 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.91
    •  
  • 7322 Agonis Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,502 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,502 Sqft ∙ Built 2005
    property image
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.86
    •  
  • 7315 Laburnum Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,502 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,502 Sqft ∙ Built 2005
    property image
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,335
    • $0.89
    •  
  • 7255 Dicentra Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,502 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,502 Sqft ∙ Built 2005
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.93
    •  
  • 7263 Dicentra Road #0 Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,525 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,525 Sqft ∙ Built 2005
    property image
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.93
    •  
PROPERTY LISTING DETAILS
Diane M Varney
1.702.401.0307
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2250869
Last Updated: 11/28/2020
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