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7212 Tame Place Las Vegas, NV 89131

3 Beds 2 Baths 1,252 sqft Built 1997

$290,000

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $231.63
  • 7 Days on Market
  • MLS # : 2257819
  • Updated Date : 01/01/2021 at 15:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,252 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

This Las Vegas one-story home offers a two-car garage.

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: Elkhorn

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Elkhorn

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9881606

* 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
Betsey Rhodes Elementary School Primary Regular 664 36 8
Ralph Cadwallader Middle School Middle Regular 1,480 63 NA
Arbor View High School High Regular 2,878 116 9

Betsey Rhodes Elementary School

  • Education Level: Primary
  • # of students: 664
  • # of teachers: 36
8
GreatSchools Rating

Ralph Cadwallader Middle School

  • Education Level: Middle
  • # of students: 1,480
  • # of teachers: 63
NA
GreatSchools Rating

Arbor View High School

  • Education Level: High
  • # of students: 2,878
  • # of teachers: 116
9
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 -$186
Property Insurance -$51
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.

$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) 10.8%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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 50% 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

5.92

YEARS SAVED

$22,475

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
  • $1.13

    LIST RENT PER SQFT
  • $1,249

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2753$1,3504$1,3985$1,420
$1,420
RENT COMPS ANALYSIS
  • 7212 Tame Place Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $1.13
    •  
  • 6868 Sky Pointe Drive #2141 Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,255 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,255 Sqft ∙ Built 2007
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.00
    •  
  • 8212 Bluff Creek Avenue #n/a Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 1997
    property image
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $1.02
    •  
  • 8936 Jaquita Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,353 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,353 Sqft ∙ Built 2006
    property image
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.00
    •  
  • 8240 New Leaf Avenue #0 Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,439 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,439 Sqft ∙ Built 2005
    property image
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,398
    • $0.97
    •  
PROPERTY LISTING DETAILS
Alexis M Rogers
1.702.710.3787
Opendoor Brokerage Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2257819
Last Updated: 01/01/2021
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