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

7316 Heritage Harbor Drive Las Vegas, NV 89131

4 Beds 3 Baths 3,854 sqft Built 2005

$795,000

List Price

$3,110

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $206.28
  • 33 Days on Market
  • MLS # : 2251953
  • Updated Date : 01/01/2021 at 10:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,854 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homie Llc

Listing Agent's Description

GORGEOUS HOME! Featuring a detached casita giving this home 5 total bedrooms and 4 1/2 bathrooms! Check out that pool, all the outdoor furniture, sunbrella, outdoor TVs included! Owned solar, and home water softener system also included in the sale!

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: Silverstone Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k387k

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

Neighborhood: Silverstone Ranch

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
Thomas O'roarke Elementary School Primary Regular 817 42 9
Ralph Cadwallader Middle School Middle Regular 1,480 63 NA
Arbor View High School High Regular 2,878 116 9

Thomas O'roarke Elementary School

  • Education Level: Primary
  • # of students: 817
  • # of teachers: 42
9
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
 

$715,500$874,500$795,000

PURCHASE PRICE

$2,799$3,421$3,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,110
EXPENSES Loan Payment -$2,933
Property Tax -$557
Property Insurance -$102
Property Management Fees -$119
CASH FLOW
-$601

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.

$795,000

PROJECTED PRICE

$3,110

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.2%
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-$15k-$10k-$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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$216,425

INVESTMENT

$216,425

Down Payment
$198,750
Rehab Estimate
$5,750
Closing Costs
$11,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,933

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $198,750
Loan Amount $596,250
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$14,298

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,110

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $3,170

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,895
1$2,8952$3,0003$3,1104$3,2005$3,500
$3,500
RENT COMPS ANALYSIS
  • 7316 Heritage Harbor Drive Las Vegas, NV 3
    • 4 beds 3 baths ∙ 3,854 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,854 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $3,110
    • $0.81
    •  
  • 8025 Villa Belen Street Las Vegas, NV 1
    • 5 beds 3 baths ∙ 3,710 Sqft ∙ Built 2003 5 beds 3 baths ∙ 3,710 Sqft ∙ Built 2003
    LEASED 07/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $0.78
    •  
  • 8301 Mount Logan Court Las Vegas, NV 2
    • 4 beds 4 baths ∙ 3,854 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,854 Sqft ∙ Built 2004
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.78
    •  
  • 8435 Beldina Street Las Vegas, NV 4
    • 4 beds 4 baths ∙ 3,902 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,902 Sqft ∙ Built 2017
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.82
    •  
  • 8412 Myerlee Court Las Vegas, NV 5
    • 5 beds 4 baths ∙ 3,854 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,854 Sqft ∙ Built 2006
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.91
    •  
PROPERTY LISTING DETAILS
Karen Gradington
1.702.301.9130
Homie Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2251953
Last Updated: 01/01/2021
BESbswy