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7404 Fencerow Street Las Vegas, NV 89131

4 Beds 3 Baths 2,212 sqft Built 1996

$353,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $159.58
  • 2 Days on Market
  • MLS # : 2251872
  • Updated Date : 12/05/2020 at 15:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,212 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

Very charming and well maintained 4 bed/2.5 bath plus den home available in north Las Vegas. Nice, quiet neighborhood, conveniently located near freeways, schools, parks, shopping, and restaurants. Inviting interior is open and bright with warm paint tones and soft natural lighting throughout. Ideal floor plan offers a formal living/dining area as well as a spacious separate family room. Stylish kitchen will delight any chef with gas cooking, ss appliances, granite counters and a breakfast bar. All bedrooms are upstairs. The master retreat includes a walk-in closet and a private en-suite with a separate soaking tub and shower. Glass sliders lead to the private backyard complete with block fencing and room for pets or play. This gem will sell fast. Dont miss it.

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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
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
 

$317,700$388,300$353,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$1,302
Property Tax -$225
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
-$196

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.

$353,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.3%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,295

INVESTMENT

$99,295

Down Payment
$88,250
Rehab Estimate
$5,750
Closing Costs
$5,295

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,302

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $88,250
Loan Amount $264,750
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$11,629

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,665

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,520
1$1,5202$1,5253$1,6954$1,7005$1,800
$1,800
RENT COMPS ANALYSIS
  • 7404 Fencerow Street Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,212 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,212 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.69
    •  
  • 7432 Fencerow Street Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,098 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,098 Sqft ∙ Built 1996
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.73
    •  
  • 8338 Fort Hallock Avenue Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,295 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,295 Sqft ∙ Built 2006
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.74
    •  
  • 7309 Hoss Place Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,241 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,241 Sqft ∙ Built 1996
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.76
    •  
  • 8307 Fort Hallock Avenue #0 Las Vegas, NV 5
    • 5 beds 2 baths ∙ 2,295 Sqft ∙ Built 2006 5 beds 2 baths ∙ 2,295 Sqft ∙ Built 2006
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.78
    •  
PROPERTY LISTING DETAILS
Adam R Hopkins
1.702.860.2007
Exp Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2251872
Last Updated: 12/05/2020
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