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7229 Abbeville Meadows Avenue Las Vegas, NV 89131

4 Beds 5 Baths 4,708 sqft Built 2005

$875,000

List Price

$2,640

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $185.85
  • 4 Days on Market
  • MLS # : 2278164
  • Updated Date : 03/19/2021 at 19:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,708 sqft
  • Baths : 4 full , 1 half
Listing Agent

Platinum R.e. Professionals

Listing Agent's Description

Beautiful floor plan in an exclusive gated community of only 20 homes of Lamplight Glen. This home features many upgrades, featuring: 2 master bedrooms (one upstairs & one downstairs). This home also has a very large kitchen with granite countertops, separate formal living and dining room. Living room is equipped with a fireplace. Separate laundry area with cabinets and sink. Backyard has outdoor living area, lots of room for activities. Covered outdoor patio with an upstairs balcony.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
 

$787,500$962,500$875,000

PURCHASE PRICE

$2,376$2,904$2,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,640
EXPENSES Loan Payment -$3,039
Property Tax -$542
Property Insurance -$118
Property Management Fees -$119
CASH FLOW
-$1,179

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.

$875,000

PROJECTED PRICE

$2,640

PROJECTED RENT

0.30%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$237,625

INVESTMENT

$237,625

Down Payment
$218,750
Rehab Estimate
$5,750
Closing Costs
$13,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,039

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $218,750
Loan Amount $656,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$300

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,640

    LIST RENT
  • $0.56

    LIST RENT PER SQFT
  • $2,837

    COMP ESTIMATED VALUE
  • $0.6

    COMP AVG. RENT PER SQFT
Comps Range
$2,520
1$2,5202$2,5953$2,6404$2,7505$3,200
$3,200
RENT COMPS ANALYSIS
  • 7229 Abbeville Meadows Avenue Las Vegas, NV 3
    • 4 beds 5 baths ∙ 4,708 Sqft ∙ Built 2005 4 beds 5 baths ∙ 4,708 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,640
    • $0.56
    •  
  • 6116 Rabbit Track Street Las Vegas, NV 1
    • 5 beds 3 baths ∙ 4,429 Sqft ∙ Built 2005 5 beds 3 baths ∙ 4,429 Sqft ∙ Built 2005
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,520
    • $0.57
    •  
  • 7244 Abbeville Meadows Avenue Las Vegas, NV 2
    • 5 beds 3 baths ∙ 4,458 Sqft ∙ Built 2005 5 beds 3 baths ∙ 4,458 Sqft ∙ Built 2005
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.58
    •  
  • 7428 Mustang Street Las Vegas, NV 4
    • 5 beds 4 baths ∙ 4,861 Sqft ∙ Built 2005 5 beds 4 baths ∙ 4,861 Sqft ∙ Built 2005
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.57
    •  
  • 6909 Via Bella Luna Avenue Las Vegas, NV 5
    • 5 beds 6 baths ∙ 4,608 Sqft ∙ Built 2004 5 beds 6 baths ∙ 4,608 Sqft ∙ Built 2004
    property image
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.69
    •  
PROPERTY LISTING DETAILS
Noah F Herrera
1.702.371.2272
Platinum R.e. Professionals
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2278164
Last Updated: 03/19/2021
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