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7240 Heggie Avenue Las Vegas, NV 89131

4 Beds 3 Baths 3,643 sqft Built 2003

$615,000

List Price

$2,700

$2.5K - $3K

Rent Est.

PROPERTY INFO

December 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $168.82
  • 7 Days on Market
  • MLS # : 2254510
  • Updated Date : 12/10/2020 at 11:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,643 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

Professional Pictures are Pending! Beautifully remodeled one story home in gated neighborhood of Shenandoah. Featuring an amazing yard with pool, 8 foot garage bay doors, Garage storage, 75 gallon water heater, central vac, water softener, S.S. kitchen appliances (Kenmore Elite 5 Burner, Double Builtin Kenmore ovens, builtin microwave, Kitchen Aide refrigerator and dishwasher), upgraded baseboards and crown moldings, fresh paint, Theater room with custom storage, hand honed limestone shower with leathered granite counters in guest bathroom, new kitchen cabinet hardware, new luxury vinyl plank flooring, Venetian plaster, wet bar, WINK LED lighting, and beautiful master bath with upgraded double shower and BIG walk in closet. Walls are all insulated and you can really sense the quality of the home when walking through. Shown by appointment only.

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: Shenandoah

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $119k738k

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

Neighborhood: Shenandoah

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $10762790

* 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
 

$553,500$676,500$615,000

PURCHASE PRICE

$2,430$2,970$2,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,700
EXPENSES Loan Payment -$2,269
Property Tax -$479
Property Insurance -$98
Property Management Fees -$119
CASH FLOW
-$265

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.

$615,000

PROJECTED PRICE

$2,700

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$168,725

INVESTMENT

$168,725

Down Payment
$153,750
Rehab Estimate
$5,750
Closing Costs
$9,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,269

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $153,750
Loan Amount $461,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$24,261

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,700

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,778

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,7003$2,8954$3,0005$3,250
$3,250
RENT COMPS ANALYSIS
  • 7240 Heggie Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 3,643 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,643 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.74
    •  
  • 7501 Brittlethorne Avenue Las Vegas, NV 1
    • 4 beds 3 baths ∙ 3,676 Sqft ∙ Built 1997 4 beds 3 baths ∙ 3,676 Sqft ∙ Built 1997
    property image
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.63
    •  
  • 8025 Villa Belen Street Las Vegas, NV 3
    • 5 beds 3 baths ∙ 3,710 Sqft ∙ Built 2003 5 beds 3 baths ∙ 3,710 Sqft ∙ Built 2003
    property image
    LEASED 07/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $0.78
    •  
  • 8301 Mount Logan Court Las Vegas, NV 4
    • 4 beds 4 baths ∙ 3,854 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,854 Sqft ∙ Built 2004
    property image
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.78
    •  
  • 7620 Pleasant Colony Court Las Vegas, NV 5
    • 4 beds 3 baths ∙ 3,775 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,775 Sqft ∙ Built 2006
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $0.86
    •  
PROPERTY LISTING DETAILS
Michael Moretti
1.702.373.7799
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2254510
Last Updated: 12/10/2020
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