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

7308 Laburnum Street Las Vegas, NV 89113

3 Beds 3 Baths 1,526 sqft Built 2005

$280,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $183.49
  • 11 Days on Market
  • MLS # : 2276363
  • Updated Date : 03/12/2021 at 06:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,526 sqft
  • Baths : 2 full , 1 half
Listing Agent

R.i.s.e

Listing Agent's Description

THIS HOME IS AWESOME!! ~ LOTS OF WINDOWS AND SPACE ~ UPGRADED 15 INCH TILE DOWNSTAIRS ~ SHUTTERS AND BLINDS THROUGHOUT ~ LOFT/LANDING 16X5 ~ UPGRADED BANISTER ~ L/CEILING FANS IN ALL BEDROOMS ~ KITCHEN HAS GRANITE COUNTERS WITH BACK SPLASH ~ SINK HAS NICE WINDOW OVERLOOKING PART OF YARD ~ ISLAND HAS ELECTRIC AND ROOM FOR BENCHES TOO! ~ TILE IN BATHROOMS TOO!! ~ THIS HOME IS THE ONE!!

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: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
Judi D. Steele Elementary School Primary Regular 858 43 8
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Sierra Vista High School High Regular 2,396 88 4

Judi D. Steele Elementary School

  • Education Level: Primary
  • # of students: 858
  • # of teachers: 43
8
GreatSchools Rating

Lawrence And Heidi Canarelli Middle School

  • Education Level: Middle
  • # of students: 1,802
  • # of teachers: 70
NA
GreatSchools Rating

Sierra Vista High School

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

$252,000$308,000$280,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$973
Property Tax -$182
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
$220

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.

$280,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.8%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$973

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

9.92

YEARS SAVED

$39,987

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,545

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5153$1,5504$1,5505$1,650
$1,650
RENT COMPS ANALYSIS
  • 7308 Laburnum Street Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,526 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,526 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.02
    •  
  • 7338 Cestrum Road #0 Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,502 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,502 Sqft ∙ Built 2004
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.93
    •  
  • 7317 Bindweed Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,526 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,526 Sqft ∙ Built 2004
    property image
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,515
    • $0.99
    •  
  • 7306 Cestrum Road Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,502 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,502 Sqft ∙ Built 2004
    property image
    LEASED 02/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.03
    •  
  • 7309 Laburnum Street Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,502 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,502 Sqft ∙ Built 2005
    property image
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.10
    •  
PROPERTY LISTING DETAILS
Sarah Sorrells
1.702.576.5951
R.i.s.e
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2276363
Last Updated: 03/12/2021
BESbswy