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7401 Exotic Bloom Drive Las Vegas, NV 89130

3 Beds 2 Baths 1,252 sqft Built 1999

INVESTimate

$275,000

List Price

$1,310

$1,179 - $1,441

Rent Est.

$303,380  ( +10.32%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1999
  • Price/Sqft : $219.65
  • 11 Days on Market
  • MLS # : 2222476
  • Updated Date : 08/19/2020 at 09:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,252 sqft
  • Baths : 2 full
Listing Agent

O48 Realty

Listing Agent's Description

NO SHOWING PLEASE SEND OFFERS SUBJECT TO INSPECTIONS TO REINAARELLANO702@GMAIL.COM THANK YOU.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Centennial Hills

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
Joseph Neal Steam Academy Primary Regular 688 34 5
Anthony Saville Middle School Middle Regular 1,494 58 NA
Shadow Ridge High School High Regular 2,697 105 6

Joseph Neal Steam Academy

  • Education Level: Primary
  • # of students: 688
  • # of teachers: 34
5
GreatSchools Rating

Anthony Saville Middle School

  • Education Level: Middle
  • # of students: 1,494
  • # of teachers: 58
NA
GreatSchools Rating

Shadow Ridge High School

  • Education Level: High
  • # of students: 2,697
  • # of teachers: 105
6
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

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$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$1,015
Property Tax -$173
Property Insurance -$51
HOA -$10
Property Management Fees -$119
CASH FLOW
-$58

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.

$275,000

PROJECTED PRICE

$1,310

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.32%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$16,844

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,127

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2953$1,2954$1,3105$1,450
$1,450
RENT COMPS ANALYSIS
  • 7401 Exotic Bloom Drive Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $1.05
    •  
  • 7561 Durham Hall Avenue #101 Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1998
    LEASED 08/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.88
    •  
  • 7558 Durham Hall Avenue #201 Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1999
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.90
    •  
  • 7554 Glowing Ember Court #201 Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1998
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.90
    •  
  • 6101 Bardstown Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,570 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,570 Sqft ∙ Built 1998
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.92
    •  
PROPERTY LISTING DETAILS
Reina Arellano
1.702.353.1479
O48 Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222476
Last Updated: 08/19/2020
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