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7310 Southern Magnolia Street Las Vegas, NV 89149

3 Beds 3 Baths 2,541 sqft Built 2017

$599,900

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $236.09
  • 3 Days on Market
  • MLS # : 2268169
  • Updated Date : 02/06/2021 at 02:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,541 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Stunning 1 Story Home in Gated Bristlecone Ranch on over a 1/4 acre Supreme Lot & Location, RV Ready w/Clean Out, 50amp exterior outlet, 3 Car Split Garage with Service Door to RV side. Spacious Ceramic Tiled Entry Way Leads to Great Room Pre Wired SS, French Doors leading to Covered Patio w/ gas BBQ Stub, Chefs Dream Kitchen with Electrolux SS Appliances, Culligan R/O System/Water Softener, Upgraded Cabinets w, Soft Close Drawers, W/I Pantry, Tile Back Splash, Massive Granite Island Pre Wired for Pendant lights, w/Seating to Entertain off Spacious Dining Area, Large Laundry Room & Powder Room Tucked Away from Main Living Space. Extra Large Master Suite, His & Her Closets, EnSuite Bath w/ Dual Sinks, Vanity Area, Soaking Tub & Walk In Shower, Oversized Secondary Bedrooms 2 & 3 share Jack n Jill Bath, each w/ Their Own Walk In Closet. Highly Desired Growing Area Near Providence and Sky Canyon with Parks and Amenities All Around, Conveniently located Near I-95 & 215

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: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Kenneth Divich Elementary Primary Unknown NA
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Arbor View High School High Regular 2,878 116 9

Kenneth Divich Elementary

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Edmundo Eddie Escobedo Sr Middle School

  • Education Level: Middle
  • # of students: 1,171
  • # of teachers: 47
NA
GreatSchools Rating

Arbor View High School

  • Education Level: High
  • # of students: 2,878
  • # of teachers: 116
9
GreatSchools Rating
 

$539,910$659,890$599,900

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 -$2,084
Property Tax -$451
Property Insurance -$76
Property Management Fees -$119
CASH FLOW
-$330

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.

$599,900

PROJECTED PRICE

$2,400

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.3%
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

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$164,724

INVESTMENT

$164,724

Down Payment
$149,975
Rehab Estimate
$5,750
Closing Costs
$8,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,084

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $149,975
Loan Amount $449,925
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$13,867

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
  • $0.94

    LIST RENT PER SQFT
  • $2,109

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,0003$2,0504$2,1755$2,400
$2,400
RENT COMPS ANALYSIS
  • 7310 Southern Magnolia Street Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,541 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,541 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.94
    •  
  • 10352 Ironwood Pass Avenue Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 2013
    LEASED 02/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.81
    •  
  • 10381 Pima Crossing Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 2013
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.82
    •  
  • 6733 Bristle Falls Street Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,471 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,471 Sqft ∙ Built 2015
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.83
    •  
  • 10150 Tarbell Grove Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,535 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,535 Sqft ∙ Built 2014
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.86
    •  
PROPERTY LISTING DETAILS
Debra Lozano
1.702.524.4994
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2268169
Last Updated: 02/06/2021
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