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7348 Rietz Canyon Street Las Vegas, NV 89131

4 Beds 2 Baths 2,123 sqft Built 2003

$400,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $188.41
  • 1 Days on Market
  • MLS # : 2314322
  • Updated Date : 07/13/2021 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,123 sqft
  • Baths : 2 full
Listing Agent

Local Realty

Listing Agent's Description

This 2,123 square foot home is looking for new owners to love it as much as the current owners. It features 4 bedrooms (1 downstairs), 3 bathrooms (3/4 bath downstairs), a small loft area, and 2 car garage. The backyard has REAL grass and a covered patio. Located in a cute community with large grass park area.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Centennial Hills

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
Howard Heckethorn Elementary School Primary Regular 657 35 7
Anthony Saville Middle School Middle Regular 1,494 58 NA
Shadow Ridge High School High Regular 2,697 105 6

Howard Heckethorn Elementary School

  • Education Level: Primary
  • # of students: 657
  • # of teachers: 35
7
GreatSchools Rating

Anthony Saville Middle School

  • Education Level: Middle
  • # of students: 1,494
  • # of teachers: 58
NA
GreatSchools Rating

Shadow Ridge High School

  • Education Level: High
  • # of students: 2,697
  • # of teachers: 105
6
GreatSchools Rating
 

$360,000$440,000$400,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,389
Property Tax -$276
Property Insurance -$68
HOA -$48
Property Management Fees -$119
CASH FLOW
-$101

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.

$400,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

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$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$17,355

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,789

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8003$1,8954$1,9005$2,000
$2,000
RENT COMPS ANALYSIS
  • 7348 Rietz Canyon Street Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,123 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,123 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.85
    •  
  • 5008 Soaring Springs Avenue North Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,156 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,156 Sqft ∙ Built 2002
    property image
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.79
    •  
  • 7633 Rainbow Cove Drive Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,225 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,225 Sqft ∙ Built 2002
    property image
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.85
    •  
  • 7325 Savannah Falls Street Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,203 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,203 Sqft ∙ Built 2004
    property image
    LEASED 04/16/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.86
    •  
  • 5422 Basset Hound Avenue Las Vegas, NV 5
    • 3 beds 2 baths ∙ 2,306 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,306 Sqft ∙ Built 2000
    property image
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.87
    •  
PROPERTY LISTING DETAILS
Mark Perry
1.702.245.4240
Local Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2314322
Last Updated: 07/13/2021
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