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7328 Empress Drive Las Vegas, NV 89147

2 Beds 2 Baths 1,031 sqft Built 1983

$260,000

List Price

$1,110

$999 - $1.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $252.18
  • 6 Days on Market
  • MLS # : 2279263
  • Updated Date : 03/20/2021 at 21:58
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,031 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

*By appointment only* A rare single story with 2 primary bedrooms with handheld bidet in both bathrooms. The kitchen features all stainless steel appliances and granite countertops. *SMART SYSTEMS CONVEY*Nest smart doorbell, Nest Motion Detection cameras with night vision and two-way communication, Nest smart carbon monoxide and smoke detectors Hyve Smart Sprinkler System My Q smart garage door opener Motion detection light on the garage, and newer wireless doorbell on gate. Located within a 15-minute drive to the airport, stadium, T-Mobile area, and much more...

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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
Pat A. Diskin Elementary School Primary Regular 686 34 6
Lawrence Junior High School Middle Regular 1,421 61 NA
Spring Valley High School High Regular 1,925 79 4

Pat A. Diskin Elementary School

  • Education Level: Primary
  • # of students: 686
  • # of teachers: 34
6
GreatSchools Rating

Lawrence Junior High School

  • Education Level: Middle
  • # of students: 1,421
  • # of teachers: 61
NA
GreatSchools Rating

Spring Valley High School

  • Education Level: High
  • # of students: 1,925
  • # of teachers: 79
4
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$999$1,221$1,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,110
EXPENSES Loan Payment -$903
Property Tax -$95
Property Insurance -$47
Property Management Fees -$119
CASH FLOW
-$54

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.

$260,000

PROJECTED PRICE

$1,110

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.9%
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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$13,307

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,110

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,117

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$995
1$9952$1,1003$1,1104$1,150
$1,150
RENT COMPS ANALYSIS
  • 7328 Empress Drive Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,031 Sqft ∙ Built 1983 2 beds 2 baths ∙ 1,031 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,110
    • $1.08
    •  
  • 7885 West Flamingo Road #1113 Las Vegas, NV 1
    • 2 beds 2 baths ∙ 934 Sqft ∙ Built 1997 2 beds 2 baths ∙ 934 Sqft ∙ Built 1997
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $1.07
    •  
  • 7570 Flamingo Road #135 Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,023 Sqft ∙ Built 1991 2 beds 2 baths ∙ 1,023 Sqft ∙ Built 1991
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $1.08
    •  
  • 7732 Rathburn Avenue Las Vegas, NV 4
    • 2 beds 3 baths ∙ 1,050 Sqft ∙ Built 1987 2 beds 3 baths ∙ 1,050 Sqft ∙ Built 1987
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $1.10
    •  
PROPERTY LISTING DETAILS
Victoria A Barrios
1.702.927.8220
Exp Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2279263
Last Updated: 03/20/2021
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