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

7311 Spring Flower Avenue Las Vegas, NV 89117

5 Beds 3 Baths 3,122 sqft Built 2014

$550,000

List Price

$2,380

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $176.17
  • 5 Days on Market
  • MLS # : 2249304
  • Updated Date : 11/18/2020 at 17:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,122 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Vip

Listing Agent's Description

Two story, 4 bed, 4 bath, home with next generation floor plan (2 masters with additional living space,) 3 car garage, and pool & spa. Home is located on a corner lot with no rear or side neighbors and features upgraded stone facade. Entry opens to a formal dining option and leads into a great room style floor plan with open family room, kitchen, and breakfast area. Kitchen includes all appliances, granite counters, walk-in pantry, and dark cabinets. Next gen suite includes kitchenette with matching granite counters, 3/4 bath, walk in closet, and separate laundry appliances. Upstairs opens to an expansive loft leading to two additional bedrooms, full bath with dual sinks, upstairs laundry room and primary bedroom. Oversized primary bedroom features a balcony, primary bath with huge walk in closet, separate shower/tub and dual sinks. Covered rear patio opens to private pool and spa with fountains and rock facade accents. A truly "stop the car" property. See this one today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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
R. Guild Gray Elementary School Primary Regular 521 24 5
Lawrence Junior High School Middle Regular 1,421 61 NA
Spring Valley High School High Regular 1,925 79 4

R. Guild Gray Elementary School

  • Education Level: Primary
  • # of students: 521
  • # of teachers: 24
5
GreatSchools Rating

Lawrence Junior High School

  • Education Level: Middle
  • # of students: 1,421
  • # of teachers: 61
NA
GreatSchools Rating

Spring Valley High School

  • Education Level: High
  • # of students: 1,925
  • # of teachers: 79
4
GreatSchools Rating
 

$495,000$605,000$550,000

PURCHASE PRICE

$2,142$2,618$2,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,380
EXPENSES Loan Payment -$2,029
Property Tax -$397
Property Insurance -$88
Property Management Fees -$119
CASH FLOW
-$253

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.

$550,000

PROJECTED PRICE

$2,380

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.9%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$20,246

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,380

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,115

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2003$2,2504$2,3505$2,380
$2,380
RENT COMPS ANALYSIS
  • 7311 Spring Flower Avenue Las Vegas, NV 5
    • 5 beds 3 baths ∙ 3,122 Sqft ∙ Built 2014 5 beds 3 baths ∙ 3,122 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $0.76
    •  
  • 7241 Summer Grove Avenue Las Vegas, NV 1
    • 5 beds 4 baths ∙ 3,462 Sqft ∙ Built 2013 5 beds 4 baths ∙ 3,462 Sqft ∙ Built 2013
    LEASED 05/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.64
    •  
  • 8075 Lapis Harbor Avenue #n/a Las Vegas, NV 2
    • 4 beds 2 baths ∙ 3,260 Sqft ∙ Built 2000 4 beds 2 baths ∙ 3,260 Sqft ∙ Built 2000
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.67
    •  
  • 7275 Lavender Rose Las Vegas, NV 3
    • 4 beds 4 baths ∙ 3,122 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,122 Sqft ∙ Built 2014
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.72
    •  
  • 7142 Purple Iris Las Vegas, NV 4
    • 5 beds 2 baths ∙ 3,462 Sqft ∙ Built 2013 5 beds 2 baths ∙ 3,462 Sqft ∙ Built 2013
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.68
    •  
PROPERTY LISTING DETAILS
Chanel Wright
1.702.480.2441
Keller Williams Vip
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249304
Last Updated: 11/18/2020
BESbswy