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7400 Mission Hills Drive Las Vegas, NV 89113

2 Beds 3 Baths 2,106 sqft Built 1986

INVESTimate

$475,000

List Price

$2,270

$2,043 - $2,497

Rent Est.

$498,940  ( +5.04%)   1 YR EST. FORECAST

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

MARKET HIGHLIGHTS

  • 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

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $119k520k

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

Neighborhood: Spanish Trail

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10763173

* 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
Lucille Rogers Elementary School Primary Regular 775 43 9
Grant Sawyer Middle School Middle Regular 1,308 52 NA
Durango High School High Regular 2,302 95 5

Lucille Rogers Elementary School

  • Education Level: Primary
  • # of students: 775
  • # of teachers: 43
9
GreatSchools Rating

Grant Sawyer Middle School

  • Education Level: Middle
  • # of students: 1,308
  • # of teachers: 52
NA
GreatSchools Rating

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$427,500$522,500$475,000

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

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$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

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

ASSUMPTIONS

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

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

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
$1,995
1$1,9952$1,9953$2,0004$2,1005$2,270
$2,270
RENT COMPS ANALYSIS
  • 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
Neil J Schwartz
1.702.277.1590
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2217644
Last Updated: 08/25/2020
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