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7298 Commanche Creek Avenue Las Vegas, NV 89179

5 Beds 3 Baths 3,720 sqft Built 2007

$519,000

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $139.52
  • 3 Days on Market
  • MLS # : 2253699
  • Updated Date : 12/04/2020 at 22:30
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,720 sqft
  • Baths : 3 full
Listing Agent

Elite Realty

Listing Agent's Description

This two story property has a lot to offer, Island breakfast bar in the kitchen, three car garage, upgraded features include fresh interior paint, parks and walking & hiking paths, &

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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: 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
 

$467,100$570,900$519,000

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,915
Property Tax -$346
Property Insurance -$99
Property Management Fees -$119
CASH FLOW
-$79

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.

$519,000

PROJECTED PRICE

$2,400

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.4%
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$1.6M$1.8M

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$143,285

INVESTMENT

$143,285

Down Payment
$129,750
Rehab Estimate
$5,750
Closing Costs
$7,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,915

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $129,750
Loan Amount $389,250
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$33,686

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $3,013

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,7003$3,2504$3,250
$3,250
RENT COMPS ANALYSIS
  • 7298 Commanche Creek Avenue Las Vegas, NV 1
    • 5 beds 3 baths ∙ 3,720 Sqft ∙ Built 2007 5 beds 3 baths ∙ 3,720 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.65
    •  
  • 7283 Elessar Avenue Las Vegas, NV 2
    • 5 beds 3 baths ∙ 4,036 Sqft ∙ Built 2010 5 beds 3 baths ∙ 4,036 Sqft ∙ Built 2010
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.67
    •  
  • 5732 Winter Star Court Las Vegas, NV 3
    • 5 beds 4 baths ∙ 4,043 Sqft ∙ Built 2002 5 beds 4 baths ∙ 4,043 Sqft ∙ Built 2002
    LEASED 06/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $0.80
    •  
  • 6243 Carol Butte Court Las Vegas, NV 4
    • 4 beds 3 baths ∙ 3,375 Sqft ∙ Built 2018 4 beds 3 baths ∙ 3,375 Sqft ∙ Built 2018
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $0.96
    •  
PROPERTY LISTING DETAILS
H Sima Madaryan
1.702.215.9408
Elite Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2253699
Last Updated: 12/04/2020
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