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7222 Girard Drive Las Vegas, NV 89147

2 Beds 2 Baths 932 sqft Built 1985

$234,999

List Price

$1,050

$945 - $1.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $252.14
  • 3 Days on Market
  • MLS # : 2278413
  • Updated Date : 03/13/2021 at 12:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 932 sqft
  • Baths : 1 full , 1 half
Listing Agent

United Realty Group

Listing Agent's Description

Cozy Home just hit the market in Spring Valley Area!! This beautiful home has 2 bed, 1.5 bath, features a fireplace, 1 car garage and covered patio! Tile throughout the house, laminate and carpet in bedrooms. The kitchen comes equipped with fridge, stove, and dishwasher; also washer and dryer included. During the summer, entertain in style under the covered patio or host a bbq with friends! Plenty of backyard space with lots of potential! Located near commerical area with a wide variety of restaurants, supermarkets, shopping centers and more! – It won’t last long.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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
Frank Kim Elementary School Primary Regular 575 34 6
Lawrence Junior High School Middle Regular 1,421 61 NA
Durango High School High Regular 2,302 95 5

Frank Kim Elementary School

  • Education Level: Primary
  • # of students: 575
  • # of teachers: 34
6
GreatSchools Rating

Lawrence Junior High School

  • Education Level: Middle
  • # of students: 1,421
  • # of teachers: 61
NA
GreatSchools Rating

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$211,499$258,499$234,999

PURCHASE PRICE

$945$1,155$1,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,050
EXPENSES Loan Payment -$816
Property Tax -$97
Property Insurance -$45
Property Management Fees -$119
CASH FLOW
-$27

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.

$234,999

PROJECTED PRICE

$1,050

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,750
Loan Amount $176,249
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$13,727

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,050

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $995

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$950
1$9502$9953$1,0504$1,1255$1,150
$1,150
RENT COMPS ANALYSIS
  • 7222 Girard Drive Las Vegas, NV 3
    • 2 beds 2 baths ∙ 932 Sqft ∙ Built 1985 2 beds 2 baths ∙ 932 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $1.13
    •  
  • 4872 Nara Vista Way #102 Las Vegas, NV 1
    • 2 beds 2 baths ∙ 884 Sqft ∙ Built 1987 2 beds 2 baths ∙ 884 Sqft ∙ Built 1987
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $1.07
    •  
  • 7885 West Flamingo Road #1113 Las Vegas, NV 2
    • 2 beds 2 baths ∙ 934 Sqft ∙ Built 1997 2 beds 2 baths ∙ 934 Sqft ∙ Built 1997
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $1.07
    •  
  • 5020 Rainbow #104 Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,091 Sqft ∙ Built 1987 2 beds 2 baths ∙ 1,091 Sqft ∙ Built 1987
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,125
    • $1.03
    •  
  • 7732 Rathburn Avenue Las Vegas, NV 5
    • 2 beds 3 baths ∙ 1,050 Sqft ∙ Built 1987 2 beds 3 baths ∙ 1,050 Sqft ∙ Built 1987
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $1.10
    •  
PROPERTY LISTING DETAILS
Lorena Loor Merchan
1.702.758.1749
United Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2278413
Last Updated: 03/13/2021
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