Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
7400 Mission Hills Drive 
Las Vegas, NV
89113
2 Beds 3 Baths 2,106 sqft
Built 1986
INVESTimate
$475,000
List Price
$131,625
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Built In 1986
- Price/Sqft : $225.55
- 30 Days on Market
- MLS # : 2217644
- Updated Date : 08/25/2020 at 09:05
CONSTRUCTION
- Beds : 2
- Floor Size : 2,106 sqft
- Baths : 2 full , 1 half
Listing Agent
Coldwell Banker Premier
Listing Agent's Description
This lovely 1 story home has a versatile floor plan and is located on a cul de sac*It features a large living room with vaulted ceiling and a 3 way fireplace. The 3 way fireplace also opens to a separate family room with built in bookcase and desk*The formal dining room boasts a bay window overlooking the backyard*The kitchen features built in ovens, microwave, a subzero and both gas and electric cooktops, as well as a large breakfast nook and walk in pantry*The master bedroom has a French door to a private patio, a walk in closet and a master bath with double sinks, jetted tub and separate shower*The 2nd bedroom also has a walk in closet and an adjacent full bath* The fully landscaped backyard and patio are perfect for entertaining* This incredible guard gated community offers tennis, a fitness room and pool*Just a short walk to the community pool & tennis courts*Great location*
SEE MORE
- 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)
- As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)
PRICE & RENT TRENDS
Neighborhood: Spanish Trail
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Spanish Trail
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,270 |
| EXPENSES | Loan Payment | -$1,753 |
| Property Tax | -$297 | |
| Property Insurance | -$68 | |
| HOA | -$260 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$226
|
||
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.
$475,000
PROJECTED PRICE
$2,270
PROJECTED RENT
0.48%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.05% |
| Appreciation Year (1-5) | 5.04% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.57% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$131,625
LOAN DETAILS
$1,753
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $118,750 |
| Loan Amount | $356,250 |
3.33
YEARS SAVED
$15,640
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,270
LIST RENT -
$1.08
LIST RENT PER SQFT
-
$2,264
COMP ESTIMATED VALUE -
$1.08
COMP AVG. RENT PER SQFT
Comps Range
-
7400 Mission Hills Drive Las Vegas, NV 5
- 2 beds 3 baths ∙ 2,106 Sqft ∙ Built 1986 2 beds 3 baths ∙ 2,106 Sqft ∙ Built 1986
- Rent
- Rent Per SQFT
- $2,270
- $1.08
-
5069 Mt Pleasant Lane Las Vegas, NV 1
- 2 beds 3 baths ∙ 1,937 Sqft ∙ Built 1988 2 beds 3 baths ∙ 1,937 Sqft ∙ Built 1988
LEASED 09/06/19- Rent
- Rent Per SQFT
- $1,995
- $1.03
-
8310 Plum Creek Court Las Vegas, NV 2
- 2 beds 2 baths ∙ 1,917 Sqft ∙ Built 1988 2 beds 2 baths ∙ 1,917 Sqft ∙ Built 1988
LEASED 07/01/20- Rent
- Rent Per SQFT
- $1,995
- $1.04
-
7814 Harbour Towne Avenue Las Vegas, NV 3
- 2 beds 3 baths ∙ 1,914 Sqft ∙ Built 1989 2 beds 3 baths ∙ 1,914 Sqft ∙ Built 1989
LEASED 08/10/20- Rent
- Rent Per SQFT
- $2,000
- $1.04
-
7140 Mission Hills Drive Las Vegas, NV 4
- 2 beds 2 baths ∙ 1,758 Sqft ∙ Built 1985 2 beds 2 baths ∙ 1,758 Sqft ∙ Built 1985
LEASED 03/11/20- Rent
- Rent Per SQFT
- $2,100
- $1.19
PROPERTY LISTING DETAILS
1.702.277.1590
Coldwell Banker Premier
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2217644
Last Updated: 08/25/2020
