Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

7237 Tawny Mill Street Las Vegas, NV 89148

3 Beds 3 Baths 1,991 sqft Built 2015

$395,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $198.39
  • 4 Days on Market
  • MLS # : 2271288
  • Updated Date : 02/19/2021 at 02:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,991 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty Expertise

Listing Agent's Description

MUST SEE!!! Absolutely stunning 3 bedroom 2 bath home with LOFT on a CORNER lot in 89148! Such PRIDE OF OWNERSHIP in this well maintained home. Entry has roaring VAULTED ceilings. Open floor plan concept perfect for entertaining. Modern stacked stone FIREPLACE in great room. Gourmet kitchen with beautiful upgraded cabinetry, granite countertops, custom backsplash, stainless steel appliances, and SPRAWLING ISLAND. Dining area has gorgeous CHANDELIER and built in cabinetry. Nice master bedroom which opens to spa like master bath with custom countertops, dual sinks, and OVERSIZED rain shower. Beautifully upgraded laminate wood flooring downstairs and upstairs. Ceiling fans throughout. Backyard is good size with covered patio and beautiful MOUNTAIN VIEWS. The list goes on, THIS WON'T LAST!!!

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: Summerlin South

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $119k441k

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

Neighborhood: Summerlin South

ZipNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10011875

* 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
Shelley Berkley Elementary School Primary Unknown NA
Wilbur And Theresa Faiss Middle School Middle Regular 1,409 61 NA
Sierra Vista High School High Regular 2,396 88 4

Shelley Berkley Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Wilbur And Theresa Faiss Middle School

  • Education Level: Middle
  • # of students: 1,409
  • # of teachers: 61
NA
GreatSchools Rating

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

$355,500$434,500$395,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,372
Property Tax -$294
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
$9

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.

$395,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.1%
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$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$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,372

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

5.92

YEARS SAVED

$26,477

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,618

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5003$1,6004$1,7505$1,860
$1,860
RENT COMPS ANALYSIS
  • 7237 Tawny Mill Street Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,991 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,991 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.93
    •  
  • 7181 Dravite Court #0 Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,937 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,937 Sqft ∙ Built 2003
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.77
    •  
  • 6873 Dragonfly Rock Street Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,924 Sqft ∙ Built 2015 4 beds 3 baths ∙ 1,924 Sqft ∙ Built 2015
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.78
    •  
  • 9319 Malaya Garnet Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,937 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,937 Sqft ∙ Built 2004
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.83
    •  
  • 9429 Bucova Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,017 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,017 Sqft ∙ Built 2015
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.87
    •  
PROPERTY LISTING DETAILS
Eddie Meese
1.702.217.8012
Realty Expertise
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2271288
Last Updated: 02/19/2021
BESbswy