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7405 Bewitching Court Las Vegas, NV 89149

3 Beds 3 Baths 1,451 sqft Built 2006

$267,000

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $184.01
  • 3 Days on Market
  • MLS # : 2268172
  • Updated Date : 02/07/2021 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,451 sqft
  • Baths : 2 full , 1 half
Listing Agent

Tmi Realty

Listing Agent's Description

The street name is a perfect description for this property, BEWITCHING! GR8 4 INVESTMENT or PRIMARY RESIDENCE purposes. This home is CLEAN AS A WHISTLE. corner lot with a balcony upstairs that offers fantastic views. 2-story home with 3 bedrooms and a loft. Charming front porch area perfect for entertaining. Lots of cabinetry throughout the kitchen.

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: 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
Sandra L. Thompson Elementary School Primary Regular 798 39 8
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Arbor View High School High Regular 2,878 116 9

Sandra L. Thompson Elementary School

  • Education Level: Primary
  • # of students: 798
  • # of teachers: 39
8
GreatSchools Rating

Edmundo Eddie Escobedo Sr Middle School

  • Education Level: Middle
  • # of students: 1,171
  • # of teachers: 47
NA
GreatSchools Rating

Arbor View High School

  • Education Level: High
  • # of students: 2,878
  • # of teachers: 116
9
GreatSchools Rating
 

$240,300$293,700$267,000

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$927
Property Tax -$202
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
$66

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.

$267,000

PROJECTED PRICE

$1,370

PROJECTED RENT

0.51%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$76,505

INVESTMENT

$76,505

Down Payment
$66,750
Rehab Estimate
$5,750
Closing Costs
$4,005

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$927

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,750
Loan Amount $200,250
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$23,445

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,364

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,370
1$1,3702$1,4753$1,4864$1,5005$1,550
$1,550
RENT COMPS ANALYSIS
  • 7405 Bewitching Court Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,451 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,451 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.94
    •  
  • 9017 Agreeable Court Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,598 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,598 Sqft ∙ Built 2006
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.92
    •  
  • 7416 Delectable Court Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,598 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,598 Sqft ∙ Built 2005
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,486
    • $0.93
    •  
  • 7417 Breathtaking Court Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,598 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,598 Sqft ∙ Built 2005
    LEASED 01/29/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.94
    •  
  • 7452 Vital Court Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,598 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,598 Sqft ∙ Built 2005
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.97
    •  
PROPERTY LISTING DETAILS
Mona G Riekki
1.702.568.7778
Tmi Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2268172
Last Updated: 02/07/2021
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