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7347 Rani Road Las Vegas, NV 89139

4 Beds 2 Baths 3,078 sqft Built 1980

$749,000

List Price

$2,880

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $243.34
  • 5 Days on Market
  • MLS # : 2264807
  • Updated Date : 01/29/2021 at 21:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,078 sqft
  • Baths : 2 full
Listing Agent

Monticello Realty Llc

Listing Agent's Description

WOW!!! Incredible Single Story Home! Excellent condition & move in ready. Gorgeous Granite & SS Appliances, Shutters, Master has huge amazing custom closet. Bath is like having your own spa retreat w/steam shower & 2 person jetted spa tub. Back yard is a Mini Oasis w/Pool, Spa, Putting Green, Out Door Kitchen, Fire Pit & Gorgeous Lawn & Landscaping. 1/2 acre lot w/RV Parking & Circular Drive. For a complete list of upgrades please see attachment in documents. Minutes to the new Allegiant Raiders Stadium, 215, 15 & Airport. This home will be sold in a flash so have your agent show it to you ASAP!!!

SEE MORE

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: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
Dr. Beverly S. Mathis Elementary School Primary Unknown NA
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Desert Oasis High School High Regular 2,417 102 5

Dr. Beverly S. Mathis Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Lawrence And Heidi Canarelli Middle School

  • Education Level: Middle
  • # of students: 1,802
  • # of teachers: 70
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$674,100$823,900$749,000

PURCHASE PRICE

$2,592$3,168$2,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,880
EXPENSES Loan Payment -$2,602
Property Tax -$332
Property Insurance -$87
Property Management Fees -$119
CASH FLOW
-$259

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.

$749,000

PROJECTED PRICE

$2,880

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.8%
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$2.5M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$204,235

INVESTMENT

$204,235

Down Payment
$187,250
Rehab Estimate
$5,750
Closing Costs
$11,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,602

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $187,250
Loan Amount $561,750
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$29,651

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,880

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $3,140

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,8803$2,9954$3,000
$3,000
RENT COMPS ANALYSIS
  • 7347 Rani Road Las Vegas, NV 2
    • 4 beds 2 baths ∙ 3,078 Sqft ∙ Built 1980 4 beds 2 baths ∙ 3,078 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $2,880
    • $0.94
    •  
  • 7665 Gilespie Street Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,798 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,798 Sqft ∙ Built 2000
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.96
    •  
  • 7135 Polaris Avenue Las Vegas, NV 3
    • 4 beds 4 baths ∙ 2,974 Sqft ∙ Built 1987 4 beds 4 baths ∙ 2,974 Sqft ∙ Built 1987
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.01
    •  
  • 7447 Kings Wharf Lane Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,745 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,745 Sqft ∙ Built 1995
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.09
    •  
PROPERTY LISTING DETAILS
Lisa C Norton
1.702.682.1591
Monticello Realty Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2264807
Last Updated: 01/29/2021
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