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7268 Clear Range Avenue Las Vegas, NV 89178

3 Beds 3 Baths 2,494 sqft Built 2010

INVESTimate

$365,000

List Price

$1,740

$1,566 - $1,914

Rent Est.

$395,806  ( +8.44%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2010
  • Price/Sqft : $146.35
  • 5 Days on Market
  • MLS # : 2224220
  • Updated Date : 08/22/2020 at 19:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,494 sqft
  • Baths : 2 full , 1 half
Listing Agent

Urban Nest Realty

Listing Agent's Description

2-Story well maintained home in Gated Community in Mountain's Edge. Home Features: Formal Living-, Dining- and Powder Room. Open floorplan Family Room and Kitchen with Granite Countertops and Stainless Steel Appliances. 2nd Floor Features: Loft with Closet and Ceiling Fan. Master Bedroom with sitting room and En-Suite Full Bathroom; Large Walk-In Closet. 2 x Bedrooms and Full Guest Bathroom. Backyard is ready to be transformed into whatever you would want it to be! 2-Car Garage. Show and Sell!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Mountain Edge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Mountain Edge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10391875

* 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
Carolyn Reedom Elementary School Primary Regular 1,097 58 6
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Carolyn Reedom Elementary School

  • Education Level: Primary
  • # of students: 1,097
  • # of teachers: 58
6
GreatSchools Rating

Lois And Jerry Tarkanian Middle School

  • Education Level: Middle
  • # of students: 1,739
  • # of teachers: 71
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$328,500$401,500$365,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

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-$5.0k$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$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,347
Property Tax -$289
Property Insurance -$75
HOA -$35
Property Management Fees -$119
CASH FLOW
-$125

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.

$365,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.44%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,347

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$16,912

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,877

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,685
1$1,6852$1,7403$1,8504$1,9005$1,950
$1,950
RENT COMPS ANALYSIS
  • 7268 Clear Range Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,494 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,494 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.70
    •  
  • 7297 Tin Mine Avenue Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,314 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,314 Sqft ∙ Built 2006
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $0.73
    •  
  • 7005 Amapa Road Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,336 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,336 Sqft ∙ Built 2013
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.79
    •  
  • 7227 Childers Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 2007
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.76
    •  
  • 10373 Montes Vascos Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,661 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,661 Sqft ∙ Built 2007
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.73
    •  
PROPERTY LISTING DETAILS
Margaretha Breytenbach
1.702.813.1770
Urban Nest Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224220
Last Updated: 08/22/2020
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