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7223 Deer View Court Las Vegas, NV 89113

2 Beds 1 Baths 1,395 sqft Built 1997

$315,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $225.81
  • 6 Days on Market
  • MLS # : 2254626
  • Updated Date : 12/11/2020 at 01:30
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,395 sqft
  • Baths : 1 full
Listing Agent

Urban Nest Realty

Listing Agent's Description

Absolutely adorable, highly upgraded home! Beautifully upgraded inside and out including ceramic plank flooring, faux wood blinds in every room, upgraded backsplash and surrounds in kitchen, and Samsung appliances! The Primary bedroom has access to the backyard, a sitting nook, as well as a dog door leading to the dog run and marble sinks! Even the guest bathroom has ceramic tile surround and marble sinks. Not to be missed!!! Inside and outside painted this year with new baseboards put in, and the backyard has bubble irrigation on the plants and shrubs and artificial grass for ease of maintenance. This is one home you are definitely going to have to see!!

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: Sovana

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k321k

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

Neighborhood: Sovana

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100115012001250130013501400145015001550160016501700Rent in $10701722

* 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
Marion B. Earl Elementary School Primary Regular 727 38 6
Grant Sawyer Middle School Middle Regular 1,308 52 NA
Durango High School High Regular 2,302 95 5

Marion B. Earl Elementary School

  • Education Level: Primary
  • # of students: 727
  • # of teachers: 38
6
GreatSchools Rating

Grant Sawyer Middle School

  • Education Level: Middle
  • # of students: 1,308
  • # of teachers: 52
NA
GreatSchools Rating

Durango High School

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

$283,500$346,500$315,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,162
Property Tax -$197
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
-$33

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.

$315,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.6%
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$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$21,893

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,524

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,3253$1,4954$1,5005$1,575
$1,575
RENT COMPS ANALYSIS
  • 7223 Deer View Court Las Vegas, NV 4
    • 2 beds 1 baths ∙ 1,395 Sqft ∙ Built 1997 2 beds 1 baths ∙ 1,395 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.08
    •  
  • 7255 Sunset Road #1030 Las Vegas, NV 1
    • 2 beds 2 baths ∙ 1,046 Sqft ∙ Built 2001 2 beds 2 baths ∙ 1,046 Sqft ∙ Built 2001
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.15
    •  
  • 7606 Edgerton Drive #0 Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,282 Sqft ∙ Built 1996 2 beds 2 baths ∙ 1,282 Sqft ∙ Built 1996
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $1.03
    •  
  • 5846 Golden Wing Street #0 Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,395 Sqft ∙ Built 1997 2 beds 2 baths ∙ 1,395 Sqft ∙ Built 1997
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.07
    •  
  • 7635 Avila Beach Avenue Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,403 Sqft ∙ Built 2001 2 beds 2 baths ∙ 1,403 Sqft ∙ Built 2001
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.12
    •  
PROPERTY LISTING DETAILS
Joshua Richards
1.702.445.5430
Urban Nest Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2254626
Last Updated: 12/11/2020
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