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7349 Ellison Park Street Las Vegas, NV 89166

3 Beds 3 Baths 3,152 sqft Built 2007

$624,988

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $198.28
  • 2 Days on Market
  • MLS # : 2276582
  • Updated Date : 03/06/2021 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,152 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lg Realty & Investments

Listing Agent's Description

RARELY ON THE MARKET THIS TOLL BROS FORMER MODEL HOME IS LOCATED IN HIGHLY DESIRABLE FRANKLIN PARK AT PROVIDENCE! HIGHLY UPGRADED WITH HARDWOOD AND TILE FLOORING, CUSOM BUILT INS THROUGHOUT, BEAMED CEILINGS, HIGHLY UPGRADED KITCHEN WITH GRANITE COUNTERS, UPGRADED CABINETS AND APPLIANCES, EXTENSIVE CUSTOM TILE WORK THROUGHOUT, OVERSIZED UPSTAIRS LOFT WITH KITCHENETTE, PRIMARY UPSTAIRS BEDROOM WITH FIREPLACE AND SITTING ROOM, CUSTOM PRIMARY BATHROOM AND HUGE BEDROOM SIZED MASTER CLOSET AND THE LIST GOES ON!

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: 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
 

$562,489$687,487$624,988

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$2,171
Property Tax -$429
Property Insurance -$88
Property Management Fees -$119
CASH FLOW
-$507

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.

$624,988

PROJECTED PRICE

$2,300

PROJECTED RENT

0.37%

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

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$171,372

INVESTMENT

$171,372

Down Payment
$156,247
Rehab Estimate
$5,750
Closing Costs
$9,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,171

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $156,247
Loan Amount $468,741
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$6,657

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,348

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,1003$2,3004$2,3755$2,795
$2,795
RENT COMPS ANALYSIS
  • 7349 Ellison Park Street Las Vegas, NV 3
    • 3 beds 3 baths ∙ 3,152 Sqft ∙ Built 2007 3 beds 3 baths ∙ 3,152 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.73
    •  
  • 10613 Lomaland Avenue Las Vegas, NV 1
    • 4 beds 4 baths ∙ 2,868 Sqft ∙ Built 2013 4 beds 4 baths ∙ 2,868 Sqft ∙ Built 2013
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.68
    •  
  • 10043 Rams Leap Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,923 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,923 Sqft ∙ Built 2018
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.72
    •  
  • 6615 Brooklyn Heights Street Las Vegas, NV 4
    • 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
    •  
  • 9616 University Ridge Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 3,485 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,485 Sqft ∙ Built 2015
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.80
    •  
PROPERTY LISTING DETAILS
Larry N Gurganus
1.702.885.9490
Lg Realty & Investments
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2276582
Last Updated: 03/06/2021
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