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7212 Old Mission Drive Las Vegas, NV 89128

4 Beds 2 Baths 1,610 sqft Built 1995

INVESTimate

$275,000

List Price

$1,560

$1,404 - $1,716

Rent Est.

$306,598  ( +11.49%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $170.81
  • 6 Days on Market
  • MLS # : 2224255
  • Updated Date : 08/24/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,610 sqft
  • Baths : 1 full , 1 half
Listing Agent

Keller Williams Realty Las Vegas

Listing Agent's Description

Adorable home just outside of Summerlin* Fantastic curb appeal with NO HOA!* Open and airy floorplan* Huge vaulted ceilings* Ceiling fans* Potshelves* Big sunny kitchen with breakfast bar, pantry and nice appliances* Stainless steel refrigerator is included* Bedroom downstairs-super convenient!* Big separate master with ceiling fan, vaulted ceilings, dual sinks and oversized walk-in closet* Spacious backyard with patio and grassy knoll!* So much mature landscaping, it feels like a park!

SEE MORE

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: 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
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

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$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,015
Property Tax -$186
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$182

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.

$275,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.49%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$41,614

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,570

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4953$1,5604$1,7005$1,700
$1,700
RENT COMPS ANALYSIS
  • 7212 Old Mission Drive Las Vegas, NV 3
    • 4 beds 2 baths ∙ 1,610 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,610 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.97
    •  
  • 1724 Leaning Pine Way #0 Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,598 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,598 Sqft ∙ Built 1991
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.91
    •  
  • 7208 Lonesome Circle Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,641 Sqft ∙ Built 1991 4 beds 3 baths ∙ 1,641 Sqft ∙ Built 1991
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.91
    •  
  • 1932 Leaning Pine Way Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,641 Sqft ∙ Built 1995 4 beds 3 baths ∙ 1,641 Sqft ∙ Built 1995
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.04
    •  
  • 1824 Sierra Valley Way Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,641 Sqft ∙ Built 1994 4 beds 3 baths ∙ 1,641 Sqft ∙ Built 1994
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.04
    •  
PROPERTY LISTING DETAILS
Julie Youngblood
1.702.234.8181
Keller Williams Realty Las Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224255
Last Updated: 08/24/2020
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