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740 Piercey Court North Las Vegas, NV 89084

2 Beds 3 Baths 1,200 sqft Built 2003

$250,000

List Price

$1,190

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $208.33
  • 3 Days on Market
  • MLS # : 2263785
  • Updated Date : 01/23/2021 at 07:30
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,200 sqft
  • Baths : 2 full , 1 half
Listing Agent

Urban Nest Realty

Listing Agent's Description

Beautiful home with 2 bedrooms plus loft, 2.5 baths, 2 car garage, upstairs laundry room, bright and open floorplan, fenced yard/patio, gated community with parks, basketball court and BBQ area, close to shopping, the 215 and Nellis AFB.

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: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
Don E. Hayden Elementary School Primary Regular 702 38 6
Clifford O. Findlay Middle School Middle Regular 1,372 59 NA
Legacy High School High Regular 2,819 119 3

Don E. Hayden Elementary School

  • Education Level: Primary
  • # of students: 702
  • # of teachers: 38
6
GreatSchools Rating

Clifford O. Findlay Middle School

  • Education Level: Middle
  • # of students: 1,372
  • # of teachers: 59
NA
GreatSchools Rating

Legacy High School

  • Education Level: High
  • # of students: 2,819
  • # of teachers: 119
3
GreatSchools Rating
 

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

PURCHASE PRICE

$1,071$1,309$1,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,190
EXPENSES Loan Payment -$868
Property Tax -$179
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
-$27

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$250,000

PROJECTED PRICE

$1,190

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.1%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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$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

4.67

YEARS SAVED

$12,028

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,190

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,191

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,190
1$1,1902$1,1953$1,2004$1,2005$1,475
$1,475
RENT COMPS ANALYSIS
  • 740 Piercey Court North Las Vegas, NV 1
    • 2 beds 3 baths ∙ 1,200 Sqft ∙ Built 2003 2 beds 3 baths ∙ 1,200 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,190
    • $0.99
    •  
  • 6408 Yucca Ridge Court North Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,200 Sqft ∙ Built 2003 2 beds 2 baths ∙ 1,200 Sqft ∙ Built 2003
    property image
    LEASED 07/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $1.00
    •  
  • 703 Sea Harbor Court North Las Vegas, NV 3
    • 2 beds 3 baths ∙ 1,200 Sqft ∙ Built 2003 2 beds 3 baths ∙ 1,200 Sqft ∙ Built 2003
    property image
    LEASED 08/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.00
    •  
  • 715 Sea Harbor Court North Las Vegas, NV 4
    • 2 beds 3 baths ∙ 1,200 Sqft ∙ Built 2003 2 beds 3 baths ∙ 1,200 Sqft ∙ Built 2003
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.00
    •  
  • 2109 Armadale Drive North Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,528 Sqft ∙ Built 2006 2 beds 2 baths ∙ 1,528 Sqft ∙ Built 2006
    property image
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.97
    •  
PROPERTY LISTING DETAILS
Robert C Danner
1.702.813.0884
Urban Nest Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2263785
Last Updated: 01/23/2021
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