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7328 Eddington Avenue Las Vegas, NV 89129

3 Beds 3 Baths 1,292 sqft Built 2006

$250,000

List Price

$1,200

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $193.50
  • 3 Days on Market
  • MLS # : 2261857
  • Updated Date : 01/16/2021 at 04:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,292 sqft
  • Baths : 2 full , 1 half
Listing Agent

Signature Real Estate Group

Listing Agent's Description

THIS WONDERFUL HOME LOCATED IN THE GATED MAYFIELD COMMUNITY, THAT ALSO HAS A COMMUNITY POOL, IS A 3 BEDROOM 1 CAR GARAGE BEAUTY. NEW WOODLIKE FLOORS DOWNSTAIRS AND BATHROOMS, NEWER PAINT JOB AND OPEN DOWNSTAIRS FLOOR PLAN. UPSTAIRS INVITES THE 3 BEDROOMS AND WASHER DRYER AREA. THE OUTSIDE AREA IS ROCKED AND READY FOR YOUR PERSONAL TOUCH. THE HOME IS LOCATED LESS THAN A 1/4 MILE FROM THE 95 FREEWAY FROM CRAIG. WITHIN WALKING DISTANCE OF ALBERTSONS, SUSHI 88, TAVERN, AND MANY FAST FOOD AND OTHER RESTAURANTS. DON'T MISS OUT ON THIS GEM.

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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: Lone Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k326k

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

Neighborhood: Lone Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10701616

* 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
Ruthe Deskin Elementary School Primary Regular 624 36 6
Justice M E Leavitt Middle School Middle Regular 1,496 64 NA
Centennial High School High Regular 3,055 124 6

Ruthe Deskin Elementary School

  • Education Level: Primary
  • # of students: 624
  • # of teachers: 36
6
GreatSchools Rating

Justice M E Leavitt Middle School

  • Education Level: Middle
  • # of students: 1,496
  • # of teachers: 64
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,080$1,320$1,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,200
EXPENSES Loan Payment -$868
Property Tax -$169
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
-$8

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.

$250,000

PROJECTED PRICE

$1,200

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$15,360

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,200

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,198

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2253$1,2994$1,3005$1,400
$1,400
RENT COMPS ANALYSIS
  • 7328 Eddington Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,292 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,292 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.93
    •  
  • 7325 Halsey Court #n/a Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,292 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,292 Sqft ∙ Built 2005
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $0.95
    •  
  • 7329 Ribbon Ridge Avenue #n/a Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,476 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,476 Sqft ∙ Built 2004
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.88
    •  
  • 4021 Broadriver Drive Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,403 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,403 Sqft ∙ Built 1993
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.93
    •  
  • 7232 High Cascade Avenue #none Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,480 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,480 Sqft ∙ Built 2005
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.95
    •  
PROPERTY LISTING DETAILS
Timothy J Low
1.702.245.8569
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261857
Last Updated: 01/16/2021
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