Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

7405 Elbridge Way Las Vegas, NV 89113

4 Beds 3 Baths 1,786 sqft Built 2000

$345,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $193.17
  • 2 Days on Market
  • MLS # : 2280257
  • Updated Date : 03/20/2021 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,786 sqft
  • Baths : 2 full , 1 half
Listing Agent

Signature Real Estate Group

Listing Agent's Description

Nice family home in popular Southwest Las Vegas. Nice sized lot, 4 bedrooms

SEE MORE

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: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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
Marion B. Earl Elementary School Primary Regular 727 38 6
Grant Sawyer Middle School Middle Regular 1,308 52 NA
Durango High School High Regular 2,302 95 5

Marion B. Earl Elementary School

  • Education Level: Primary
  • # of students: 727
  • # of teachers: 38
6
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
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$1,198
Property Tax -$201
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
-$141

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.

$345,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.9%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,198

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$11,611

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,540

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,440
1$1,4402$1,5003$1,5004$1,5955$1,695
$1,695
RENT COMPS ANALYSIS
  • 7405 Elbridge Way Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,786 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,786 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.81
    •  
  • 7446 Elbridge Way Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,910 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,910 Sqft ∙ Built 2000
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.79
    •  
  • 7364 Dewey Drive Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,746 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,746 Sqft ∙ Built 1999
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.86
    •  
  • 7701 Mocorito Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,780 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,780 Sqft ∙ Built 2004
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.90
    •  
  • 7749 Diablo Drive Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,887 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,887 Sqft ∙ Built 2019
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.90
    •  
PROPERTY LISTING DETAILS
Travis C Hook
1.702.355.4793
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2280257
Last Updated: 03/20/2021
BESbswy