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7311 Sibley Avenue Las Vegas, NV 89131

4 Beds 3 Baths 3,457 sqft Built 2001

$689,900

List Price

$2,800

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $199.57
  • 22 Days on Market
  • MLS # : 2264546
  • Updated Date : 02/13/2021 at 21:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,457 sqft
  • Baths : 3 full
Listing Agent

Windermere Prestige Properties

Listing Agent's Description

Almost a half acre in gated community called Shenandoah Estates in the Northwest Las Vegas. Spacious two-story home almost 3500 sq ft w/ hard to find Four-car garage & RV parking, wide lot with possible 2 sided RV parking. There are 4 BR & 4 Fully renovated baths perfectly situated for privacy. Master suite has sitting area leading into a large renovated ensuite bath w/ walk-in tiled shower. Walk out to your private balcony off the master suite & enjoy the beauty of your private backyard. Outdoor paradise backyard w/ pool spa covered patio barbecue center & plenty of room for outdoor activities. Upgraded flooring including wood style ceramic flooring, designer carpet, gourmet kitchen w/ new stone countertops, white kitchen cabinets, & stainless steel appliance pkg including the refrigerator. Comfy family room w/ media niche & fireplace. Upstairs loft makes a perfect second TV room/Den, & All bathrooms are newly refinished including a 3/4 private guest suite bath upstairs.

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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: Shenandoah

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $119k738k

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

Neighborhood: Shenandoah

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $10762790

* 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
Betsey Rhodes Elementary School Primary Regular 664 36 8
Ralph Cadwallader Middle School Middle Regular 1,480 63 NA
Arbor View High School High Regular 2,878 116 9

Betsey Rhodes Elementary School

  • Education Level: Primary
  • # of students: 664
  • # of teachers: 36
8
GreatSchools Rating

Ralph Cadwallader Middle School

  • Education Level: Middle
  • # of students: 1,480
  • # of teachers: 63
NA
GreatSchools Rating

Arbor View High School

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

$620,910$758,890$689,900

PURCHASE PRICE

$2,520$3,080$2,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,800
EXPENSES Loan Payment -$2,396
Property Tax -$479
Property Insurance -$94
Property Management Fees -$119
CASH FLOW
-$288

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.

$689,900

PROJECTED PRICE

$2,800

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.5%
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$2.5M

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$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$188,574

INVESTMENT

$188,574

Down Payment
$172,475
Rehab Estimate
$5,750
Closing Costs
$10,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,396

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $172,475
Loan Amount $517,425
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$22,019

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,800

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,826

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,4953$2,8004$3,2505$3,250
$3,250
RENT COMPS ANALYSIS
  • 7311 Sibley Avenue Las Vegas, NV 3
    • 4 beds 3 baths ∙ 3,457 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,457 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.81
    •  
  • 8228 Fawn Brook Court Las Vegas, NV 1
    • 5 beds 3 baths ∙ 3,165 Sqft ∙ Built 1998 5 beds 3 baths ∙ 3,165 Sqft ∙ Built 1998
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.73
    •  
  • 8232 Deer Springs Way Las Vegas, NV 2
    • 4 beds 3 baths ∙ 3,184 Sqft ∙ Built 1998 4 beds 3 baths ∙ 3,184 Sqft ∙ Built 1998
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.78
    •  
  • 7293 Mount Kearsarge Street Las Vegas, NV 4
    • 5 beds 5 baths ∙ 3,598 Sqft ∙ Built 2005 5 beds 5 baths ∙ 3,598 Sqft ∙ Built 2005
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $0.90
    •  
  • 7620 Pleasant Colony Court Las Vegas, NV 5
    • 4 beds 3 baths ∙ 3,775 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,775 Sqft ∙ Built 2006
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $0.86
    •  
PROPERTY LISTING DETAILS
Dulcie Crawford
1.702.505.2775
Windermere Prestige Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2264546
Last Updated: 02/13/2021
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