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7285 Winding Creek Drive Las Vegas, NV 89113

3 Beds 4 Baths 2,291 sqft Built 1999

$469,900

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $205.11
  • 2 Days on Market
  • MLS # : 2249977
  • Updated Date : 11/21/2020 at 16:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,291 sqft
  • Baths : 3 full , 1 half
Listing Agent

Prime Properties Of Las Vegas

Listing Agent's Description

THIS IS ONE YOU WON'T WANT TO MISS---Introducing this dramatic, modern, 3 bed, 3 bath home located in prime southwest location with no hoa dues. Large open kitchen with loads of counter space covered in dark blue pearl granite, massive 23' high ceiling in great room with gorgeous 30" porcelain tiles throughout. Shutters downstairs, skylights upstairs. Nice primary bedroom with oversized shower. Remodeled baths, ceiling fans throughout, move-in condition. Three car garage with storage and utility sink. Easy care desert landscape with many palms and covered patio. Make this one your first stop!!

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: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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
Marion B. Earl Elementary School Primary Regular 727 38 6
Grant Sawyer Middle School Middle Regular 1,308 52 NA
Durango High School High Regular 2,302 95 5

Marion B. Earl Elementary School

  • Education Level: Primary
  • # of students: 727
  • # of teachers: 38
6
GreatSchools Rating

Grant Sawyer Middle School

  • Education Level: Middle
  • # of students: 1,308
  • # of teachers: 52
NA
GreatSchools Rating

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$422,910$516,890$469,900

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,734
Property Tax -$212
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
-$426

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.

$469,900

PROJECTED PRICE

$1,710

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.9%
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$1.6M

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$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,274

INVESTMENT

$130,274

Down Payment
$117,475
Rehab Estimate
$5,750
Closing Costs
$7,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,734

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $117,475
Loan Amount $352,425
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$5,869

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,039

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,710
1$1,7102$1,7853$1,8504$2,0505$2,135
$2,135
RENT COMPS ANALYSIS
  • 7285 Winding Creek Drive Las Vegas, NV 1
    • 3 beds 4 baths ∙ 2,291 Sqft ∙ Built 1999 3 beds 4 baths ∙ 2,291 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.75
    •  
  • 7285 Pazienza Avenue Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,116 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,116 Sqft ∙ Built 2019
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,785
    • $0.84
    •  
  • 5660 Alta Peak Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,133 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,133 Sqft ∙ Built 2017
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.87
    •  
  • 7444 Shangri La Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,266 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,266 Sqft ∙ Built 1989
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.90
    •  
  • 7217 Mesa Vista Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,251 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,251 Sqft ∙ Built 1997
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,135
    • $0.95
    •  
PROPERTY LISTING DETAILS
Tami K Bogenschutz
1.702.327.8585
Prime Properties Of Las Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249977
Last Updated: 11/21/2020
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