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7324 Marble Lake Street #102 Las Vegas, NV 89149

3 Beds 3 Baths 1,539 sqft Built 2004

$247,500

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $160.82
  • 6 Days on Market
  • MLS # : 2247311
  • Updated Date : 11/13/2020 at 09:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,539 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

Gorgeous 3 bedroom townhome with 2 car finished garage with new paint and epoxy flooring in gated community that features a community pool and spa! Walk inside to a spacious cozy living room that features a ceiling fan light and is open to the kitchen and dining area. Large coat closet under stairway perfect for extra storage. Stunning kitchen boasts a breakfast counter, granite counter tops, stainless steel dependable Kenmore dishwasher and microwave, upgraded 5-burner LG gas stove w/double-oven, and pantry! Exterior sliding door from the dining area leads you to a beautifully landscaped backyard with views of the mountains and valley. Upstairs features 3 bedrooms with ceiling fan lights. Charming master has large walk in closet and master bathroom with double sinks and large walk in shower. *REVERSE OSMOSIS* *NEW CARPET* *HIGH END KINETICO WATER SOFTENER* *SECURITY DOOR*

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: Tripoly at Towne Center

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $88k362k

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

Neighborhood: Tripoly at Towne Center

ZipNIR 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
Sandra L. Thompson Elementary School Primary Regular 798 39 8
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Arbor View High School High Regular 2,878 116 9

Sandra L. Thompson Elementary School

  • Education Level: Primary
  • # of students: 798
  • # of teachers: 39
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
 

$222,750$272,250$247,500

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$913
Property Tax -$141
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
$50

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.

$247,500

PROJECTED PRICE

$1,280

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 11.5%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,338

INVESTMENT

$71,338

Down Payment
$61,875
Rehab Estimate
$5,750
Closing Costs
$3,713

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$913

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,875
Loan Amount $185,625
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$25,605

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,280

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,458

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2803$1,3504$1,3955$1,395
$1,395
RENT COMPS ANALYSIS
  • 7324 Marble Lake Street #102 Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,539 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,539 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $0.83
    •  
  • 9132 Kona Peaks Court #102 Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,419 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,419 Sqft ∙ Built 2005
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.88
    •  
  • 9112 Canoga Canyon Court #102 Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,419 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,419 Sqft ∙ Built 2004
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.95
    •  
  • 9116 Canoga Canyon Court #102 Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,419 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,419 Sqft ∙ Built 2004
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.98
    •  
  • 9120 Alpine Grove Avenue #102 Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,419 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,419 Sqft ∙ Built 2005
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.98
    •  
PROPERTY LISTING DETAILS
Aaron Taylor
1.702.310.6683
Exp Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2247311
Last Updated: 11/13/2020
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