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7404 Red Eagle Street Las Vegas, NV 89131

4 Beds 3 Baths 2,022 sqft Built 1996

INVESTimate

$350,000

List Price

$1,630

$1,467 - $1,793

Rent Est.

$378,315  ( +8.09%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $173.10
  • 5 Days on Market
  • MLS # : 2224020
  • Updated Date : 08/22/2020 at 11:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,022 sqft
  • Baths : 3 full
Listing Agent

Lakeside Realty

Listing Agent's Description

** GREAT OPEN FLOOR PLAN ** 4 BEDROOMS * 3 FULL BATHROOMS**2 CAR GARAGE** MASTER BEDROOM IS SEPARATE FROM OTHER BEDROOMS ** NEW CARPET IN ALL FOUR BEDROOMS **SOME FRESH PAINTING DONE* NEW FAUCETS AND LIGHT FIXTURES IN SOME AREAS* VERY ROOMY MASTER BATH ROOM HAS SEPARATE TUB AND SHOWER **TWO BEDROOMS SHARE A THIRD FULL BATH ** BRAND NEW 5 TON HVAC AT THE COST OF $8,000 ** WONDERFUL LONG COVERED PATIO ** PRIVATE BACK YARD ** COZY 3 WAY FIREPLACE LOCATED BETWEEN LIVING AND FAMILY ROOMS *ALARM SYSTEM**ALL MEAS. APPROX. ** NEW STAINLESS STEEL STOVE, MICROWAVE AND DISHWASHER **RECENTLY REPLACED GARBAGE DISPOSAL, WATER SOFTENER, & WATER HEATER**GREAT AREA WITH MANY SHOPPING CENTERS IN THE VICINITY **CONVENIENT TO FREEWAY**SCHOOLS AND PARKS NEARBY**

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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: The Meadows at Elkhorn Springs

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: The Meadows at Elkhorn Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9961875

* 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
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,467$1,793$1,630

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

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,291
Property Tax -$219
Property Insurance -$66
HOA -$100
Property Management Fees -$119
CASH FLOW
-$166

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.

$350,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.09%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$12,693

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,592

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5953$1,6004$1,6305$1,695
$1,695
RENT COMPS ANALYSIS
  • 7404 Red Eagle Street Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,022 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,022 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.81
    •  
  • 7217 Tealwood Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,928 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,928 Sqft ∙ Built 2000
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.78
    •  
  • 7812 Silver Mallard Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,022 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,022 Sqft ∙ Built 1996
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.79
    •  
  • 7212 Eaglegate Street Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,158 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,158 Sqft ∙ Built 1999
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.74
    •  
  • 7801 Thorne Pine Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,022 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,022 Sqft ∙ Built 1997
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.84
    •  
PROPERTY LISTING DETAILS
Olive M Turney
1.702.631.9888
Lakeside Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224020
Last Updated: 08/22/2020
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