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7311 Pepperbox Avenue Las Vegas, NV 89179

4 Beds 2 Baths 1,820 sqft Built 2010

INVESTimate

$345,000

List Price

$1,650

$1,485 - $1,815

Rent Est.

$374,118  ( +8.44%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2010
  • Price/Sqft : $189.56
  • 4 Days on Market
  • MLS # : 2224345
  • Updated Date : 08/24/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,820 sqft
  • Baths : 2 full
Listing Agent

Hoopes Team Realty, Inc

Listing Agent's Description

IN MOUNTAINS EDGE, A MUST SEE! THIS 4 BEDROOM 3 BATH HOME HAS BEAUTIFUL UPGRADES AND CURB APPEAL.CUSTOM SECURITY DOOR,18FT CEILINGS,CUSTOM SHELVES W/LIGHTING IN GREAT RM.DECORATIVE FIREPLACE FOR AMBIANCE. LAMINATE FLOORS AND CARPET THROUGHOUT.LOTS OF WINDOWS FOR NATURAL LIGHT. LOW E WINDOWS AND RADIANT ROOF BARRIER.ALL SS APPLIANCES STAY,GRANITE COUNTER TOPS AND BACK SPLASH, NICE ISLAND & PANTRY. MASTER BDRM WITH LRG W/I CLOSET .MASTER BTH HAS DBL SINKS SEPARATE TUB AND SHOWER. 2 MORE BEDROOMS UPSTAIRS WITH THEIR OWN BATH. BEDRM AND BATH DNSTAIRS FOR YOUR GUESTS. A FEW MORE EXTRAS: SOFT WATER UNIT, SMART THERMOSTAT, CEILING FANS IN ALL ROOMS, WINDOW BLINDS AND DRAPES. GREAT PARKS IN THE AREA. NO NEIGHBOR BEHIND YOU.

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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
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,485$1,815$1,650

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$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,273
Property Tax -$238
Property Insurance -$62
HOA -$32
Property Management Fees -$119
CASH FLOW
-$74

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.

$345,000

PROJECTED PRICE

$1,650

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$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,273

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$20,325

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,706

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6503$1,6954$1,7005$1,875
$1,875
RENT COMPS ANALYSIS
  • 7311 Pepperbox Avenue Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,820 Sqft ∙ Built 2010 4 beds 2 baths ∙ 1,820 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.91
    •  
  • 7067 Leadville Peak Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,655 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,655 Sqft ∙ Built 2012
    LEASED 01/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.91
    •  
  • 7483 Pepperbox Avenue Las Vegas, NV 3
    • 4 beds 2 baths ∙ 1,854 Sqft ∙ Built 2010 4 beds 2 baths ∙ 1,854 Sqft ∙ Built 2010
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.91
    •  
  • 10637 Cliff Lake Street Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,830 Sqft ∙ Built 2012 4 beds 3 baths ∙ 1,830 Sqft ∙ Built 2012
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.93
    •  
  • 10649 Cave Ridge Street Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,871 Sqft ∙ Built 2010 4 beds 3 baths ∙ 1,871 Sqft ∙ Built 2010
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.00
    •  
PROPERTY LISTING DETAILS
Mara Navarro-pry
1.702.768.8576
Hoopes Team Realty, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224345
Last Updated: 08/24/2020
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