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7324 Marbury Street Las Vegas, NV 89166

5 Beds 5 Baths 3,539 sqft Built 2014

$475,000

List Price

$2,560

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $134.22
  • 4 Days on Market
  • MLS # : 2254860
  • Updated Date : 12/11/2020 at 16:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,539 sqft
  • Baths : 4 full , 1 half
Listing Agent

The Tom Love Group Llc

Listing Agent's Description

Providence stunner with Strip, City and Mountain Views. Original owner home shows pride of ownership throughout. Courtyard entry accented by stack stone columns and large covered patio. Open floor plan enormous great room and corner fireplace. Chefs delight kitchen with granite counters, extended cabinets, stainless steel appliances and large island perfect for entertaining. The spacious downstairs master offers a large walk-in closet, dual vanities, separate tub & shower and a stack-able washer dryer just for the master suite. Large loft with balcony access to enjoy the city lights. Custom built-ins throughout with four bedrooms and upstairs. Pool sized backyard is a blank canvas awaiting your custom design with a covered patio the entire length of the house. Close to shopping, parks, restaurants and freeway access. Providence is a master planned community with parks and recreation areas throughout.

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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: 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
 

$427,500$522,500$475,000

PURCHASE PRICE

$2,304$2,816$2,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,560
EXPENSES Loan Payment -$1,753
Property Tax -$454
Property Insurance -$96
Property Management Fees -$119
CASH FLOW
$139

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.

$475,000

PROJECTED PRICE

$2,560

PROJECTED RENT

0.54%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$51,170

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,560

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $2,557

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,5603$2,6004$2,6455$2,800
$2,800
RENT COMPS ANALYSIS
  • 7324 Marbury Street Las Vegas, NV 2
    • 5 beds 5 baths ∙ 3,539 Sqft ∙ Built 2014 5 beds 5 baths ∙ 3,539 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,560
    • $0.72
    •  
  • 7422 Olmstead Street Las Vegas, NV 1
    • 4 beds 4 baths ∙ 3,403 Sqft ∙ Built 2012 4 beds 4 baths ∙ 3,403 Sqft ∙ Built 2012
    property image
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.68
    •  
  • 7936 Farralon Ridge Court Las Vegas, NV 3
    • 5 beds 4 baths ∙ 3,487 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,487 Sqft ∙ Built 2005
    property image
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.75
    •  
  • 9961 Madison Walk Avenue Las Vegas, NV 4
    • 5 beds 5 baths ∙ 3,730 Sqft ∙ Built 2005 5 beds 5 baths ∙ 3,730 Sqft ∙ Built 2005
    property image
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,645
    • $0.71
    •  
  • 7901 Farralon Ridge Court Las Vegas, NV 5
    • 5 beds 4 baths ∙ 3,730 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,730 Sqft ∙ Built 2005
    property image
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.75
    •  
PROPERTY LISTING DETAILS
Thomas J Love
1.702.838.5100
The Tom Love Group Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2254860
Last Updated: 12/11/2020
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