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7327 Durand Park Street Las Vegas, NV 89166

3 Beds 3 Baths 3,148 sqft Built 2019

$700,000

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $222.36
  • 4 Days on Market
  • MLS # : 2268941
  • Updated Date : 02/12/2021 at 21:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,148 sqft
  • Baths : 2 full , 1 half
Listing Agent

Platinum R.e. Professionals

Listing Agent's Description

WHOA NELLY SEMI CUSTOM STUNNER! THOUSANDS IN UPGRADES JUST LIKE A MODEL! A CALIFORNIA EXODUS FAVORITE! SUPER RARE ONE STORY WITH LOFT! Beautiful entry way with custom iron door leads you to nice open floor plan. Gourmet like kitchen with upgraded cabinets and stunning granite that over looks the entertainment room, perfect for surround sound sports & entertainment. Take a stroll out back with your covered patio and create your own mini personal park with sparkling pool on huge premium lot with private park as your neighbor. The master bedroom can be you own Private Penthouse with spa like master bathroom. Large secondary bedrooms that are separate from the master for complete privacy. Don't forget the bonus loft perfect for game room, movies or double master. HISTORIC HOME SHORTAGE LOWEST ON RECORD HOME VALUES SKY ROCKET DONT DELAY CLICK TODAY

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MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (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
 

$630,000$770,000$700,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$2,431
Property Tax -$490
Property Insurance -$88
Property Management Fees -$119
CASH FLOW
-$1,219

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.

$700,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.27%

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-$20k-$15k-$10k-$5.0k$0.0$5.0k

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$191,250

INVESTMENT

$191,250

Down Payment
$175,000
Rehab Estimate
$5,750
Closing Costs
$10,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$2,431

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $175,000
Loan Amount $525,000
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$56

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.61

    LIST RENT PER SQFT
  • $2,660

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,910
1$1,9102$2,3753$2,4994$2,7005$2,950
$2,950
RENT COMPS ANALYSIS
  • 7327 Durand Park Street Las Vegas, NV 1
    • 4 beds 3 baths ∙ 3,148 Sqft ∙ Built 2019 4 beds 3 baths ∙ 3,148 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.61
    •  
  • 6615 Brooklyn Heights Street Las Vegas, NV 2
    • 4 beds 2 baths ∙ 3,031 Sqft ∙ Built 2009 4 beds 2 baths ∙ 3,031 Sqft ∙ Built 2009
    LEASED 08/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.78
    •  
  • 10145 Rockridge Peak Avenue #0 Las Vegas, NV 3
    • 5 beds 3 baths ∙ 3,126 Sqft ∙ Built 2009 5 beds 3 baths ∙ 3,126 Sqft ∙ Built 2009
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,499
    • $0.80
    •  
  • 10412 Turtle Mountain Avenue Las Vegas, NV 4
    • 5 beds 2 baths ∙ 3,040 Sqft ∙ Built 2007 5 beds 2 baths ∙ 3,040 Sqft ∙ Built 2007
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.89
    •  
  • 7033 Whitford Street Las Vegas, NV 5
    • 5 beds 3 baths ∙ 3,229 Sqft ∙ Built 2010 5 beds 3 baths ∙ 3,229 Sqft ∙ Built 2010
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.91
    •  
PROPERTY LISTING DETAILS
Steve P Hawks
1.702.617.4637
Platinum R.e. Professionals
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2268941
Last Updated: 02/12/2021
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