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7319 Ellington Park Street Las Vegas, NV 89166

4 Beds 4 Baths 2,962 sqft Built 2018

$749,900

List Price

$2,510

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $253.17
  • -1 Days on Market
  • MLS # : 2313087
  • Updated Date : 07/13/2021 at 16:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,962 sqft
  • Baths : 3 full , 1 half
Listing Agent

Resolution Realty

Listing Agent's Description

*EXQUISITE HOME HAS THE WOW FACTOR! *PHENOMENAL CURB APPEAL. This turnkey two-story home is nestled against the mountains in gated Franklin Park Community. This home is full of designer upgrades, a chef's inspired kitchen, quartz countertops with a downstairs bedroom with a full bath. Enjoy your custom California Closet in the master bedroom with a balcony to enjoy mountain view sunsets. Walk outside into an oasis-like backyard and enjoy this stunning & luxurious pool/spa combo with a custom pergola perfect for entertaining! This home has it all!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Cliffs Edge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Cliffs Edge

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
Henry And Evelyn Bozarth Elementary School Primary Regular 905 40 8
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Arbor View High School High Regular 2,878 116 9

Henry And Evelyn Bozarth Elementary School

  • Education Level: Primary
  • # of students: 905
  • # of teachers: 40
8
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
 

$674,910$824,890$749,900

PURCHASE PRICE

$2,259$2,761$2,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,510
EXPENSES Loan Payment -$2,605
Property Tax -$515
Property Insurance -$85
HOA -$57
Property Management Fees -$119
CASH FLOW
-$871

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.

$749,900

PROJECTED PRICE

$2,510

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.9%
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-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

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$204,474

INVESTMENT

$204,474

Down Payment
$187,475
Rehab Estimate
$5,750
Closing Costs
$11,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,605

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $187,475
Loan Amount $562,425
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,167

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,510

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,577

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,375
1$2,3752$2,4953$2,5104$2,6005$2,700
$2,700
RENT COMPS ANALYSIS
  • 7319 Ellington Park Street Las Vegas, NV 3
    • 4 beds 4 baths ∙ 2,962 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,962 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,510
    • $0.85
    •  
  • 6615 Brooklyn Heights Street Las Vegas, NV 1
    • 4 beds 2 baths ∙ 3,031 Sqft ∙ Built 2009 4 beds 2 baths ∙ 3,031 Sqft ∙ Built 2009
    property image
    LEASED 08/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.78
    •  
  • 10723 Lenore Park Court Las Vegas, NV 2
    • 3 beds 4 baths ∙ 2,795 Sqft ∙ Built 2009 3 beds 4 baths ∙ 2,795 Sqft ∙ Built 2009
    property image
    LEASED 06/24/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.89
    •  
  • 10338 Mount Oxford Avenue Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,835 Sqft ∙ Built 2013 4 beds 2 baths ∙ 2,835 Sqft ∙ Built 2013
    property image
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.92
    •  
  • 10412 Turtle Mountain Avenue Las Vegas, NV 5
    • 5 beds 2 baths ∙ 3,040 Sqft ∙ Built 2007 5 beds 2 baths ∙ 3,040 Sqft ∙ Built 2007
    property image
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.89
    •  
PROPERTY LISTING DETAILS
Valerie Pro Phair
1.702.806.2656
Resolution Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2313087
Last Updated: 07/13/2021
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