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7400 Michelle Avenue Las Vegas, NV 89131

3 Beds 3 Baths 2,087 sqft Built 1999

$600,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $287.49
  • 1 Days on Market
  • MLS # : 2312598
  • Updated Date : 07/13/2021 at 09:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,087 sqft
  • Baths : 2 full , 1 half
Listing Agent

Love Local Real Estate

Listing Agent's Description

THIS UNIQUE SINGLE STORY HOME HAS 3 BEDROOMS 2 1/2 BATHS* 3 CAR GARAGE AND IS LOCATED ON A 1/2 ACRE LOT NESTLED IN A QUIET STREET WITH NO NEIGHBORS BEHIND. *PRIVATE BACKYARD** COMPLETELY REMODELED KITCHEN WITH CUSTOM CHERRY CABINETS*BUTCHER BLOCK ISLAND *WOLF GAS STOVE*FARMER'S SINK*SIDE BY SIDE FRIDGE AND FREEZER* UPDATED MASTER BATHROOM AND MASTER CLOSET* DID I MENTION A HUGE SHED ON THE SIDE OF GARAGE AND A 10 PERSON HOT TUB WITH NEW COVER?THE BACKYARD IS A GARDENER'S OASIS AND HAS PLENTY OF ROOM FOR A POOL* YOU COULD GET LOST OUT THERE* THE HOME ALSO FEATURES A NEW PERGOLA AND THERE IS OPPORTUNITY TO EXTEND SIDE YARD 20 FEET* ADDED BONUS *ROLLADEN SHUTTERS THROUGHOUT HOME IN KEEP THE COOL AIR IN THE SUMMER AND KEEP IT HE HOME WARM IN THE WINTER AS WELL AS ADDED SECURITY. TOO MANY UPGRADES TO MENTION!

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: Hillstone Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $119k466k

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

Neighborhood: Hillstone Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10761932

* 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
Betsey Rhodes Elementary School Primary Regular 664 36 8
Ralph Cadwallader Middle School Middle Regular 1,480 63 NA
Arbor View High School High Regular 2,878 116 9

Betsey Rhodes Elementary School

  • Education Level: Primary
  • # of students: 664
  • # of teachers: 36
8
GreatSchools Rating

Ralph Cadwallader Middle School

  • Education Level: Middle
  • # of students: 1,480
  • # of teachers: 63
NA
GreatSchools Rating

Arbor View High School

  • Education Level: High
  • # of students: 2,878
  • # of teachers: 116
9
GreatSchools Rating
 

$540,000$660,000$600,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$2,084
Property Tax -$316
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
-$897

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.

$600,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.28%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.5%
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-$15k-$10k-$5.0k$0.0$5.0k

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$164,750

INVESTMENT

$164,750

Down Payment
$150,000
Rehab Estimate
$5,750
Closing Costs
$9,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,084

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $150,000
Loan Amount $450,000
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$89

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,701

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,6903$1,7004$1,9955$1,995
$1,995
RENT COMPS ANALYSIS
  • 7400 Michelle Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,087 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,087 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.81
    •  
  • 7209 Golden Falcon Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,928 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,928 Sqft ∙ Built 1998
    property image
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.78
    •  
  • 7729 Falconwing Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,284 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,284 Sqft ∙ Built 1999
    property image
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.74
    •  
  • 7208 Golden Falcon Street Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,284 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,284 Sqft ∙ Built 1998
    property image
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.87
    •  
  • 7205 Golden Falcon Street Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,284 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,284 Sqft ∙ Built 1998
    property image
    LEASED 01/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.87
    •  
PROPERTY LISTING DETAILS
Peggy Collura
1.702.626.6002
Love Local Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2312598
Last Updated: 07/13/2021
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