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7223 Magic Moment Lane Las Vegas, NV 89119

4 Beds 2 Baths 1,760 sqft Built 1985

$375,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $213.07
  • 5 Days on Market
  • MLS # : 2262908
  • Updated Date : 01/24/2021 at 02:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,760 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Southern Nevada

Listing Agent's Description

Amazing Buy! Well maintained 2 story 4 bedroom 3 bath home with large lot in cul-da-sac. Great backyard with swimming pool and plenty of space to entertain guest. The Front yard is similarly impressive with beautiful landscaping and lush green grass for the kids and or pets to enjoy. Plenty of parking for your guest with the house being located at the corner of the cul-da-sac. No HOA!

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: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
Louis Wiener Jr Elementary School Primary Regular 701 39 7
Jack L. Schofield Middle School Middle Regular 1,332 51 NA
Silverado High School High Regular 2,263 94 5

Louis Wiener Jr Elementary School

  • Education Level: Primary
  • # of students: 701
  • # of teachers: 39
7
GreatSchools Rating

Jack L. Schofield Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 51
NA
GreatSchools Rating

Silverado High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
5
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,303
Property Tax -$161
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$37

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.

$375,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
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$1.4M

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$28,568

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,637

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5003$1,6004$1,6805$1,775
$1,775
RENT COMPS ANALYSIS
  • 7223 Magic Moment Lane Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,760 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,760 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.95
    •  
  • 7113 Honeysuckle Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,576 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,576 Sqft ∙ Built 1989
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.95
    •  
  • 7102 Magic Moment Lane Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,679 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,679 Sqft ∙ Built 1990
    LEASED 01/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.89
    •  
  • 7129 Paradise Bay Drive Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 1993
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.87
    •  
  • 7182 Magic Moment Lane Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 1985
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.01
    •  
PROPERTY LISTING DETAILS
Paul Soliz
1.702.606.0791
Keller Williams Southern Nevada
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2262908
Last Updated: 01/24/2021
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