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

7420 Shallow Glen Court Las Vegas, NV 89129

5 Beds 2 Baths 2,896 sqft Built 1992

$445,000

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $153.66
  • 3 Days on Market
  • MLS # : 2251823
  • Updated Date : 12/04/2020 at 21:01
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,896 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Market Place

Listing Agent's Description

2896 SQFT 2.5 Story Home, 5 Bedroom (1 Downstairs), 3 Bath, 3 Car Garage, Pool & Spa, Located In DeerBrooke Neighborhood on Cul-Du- Sac Off Craig Rd About A Mile West Of The 95 Priced Under $450,000. Wet bar, fireplace, kitchen granite counters and island, new garbage disposal, metal security door on front, new AC units installed spring 2020, ceiling fans, ADT Alarm System paid for by HOA, Child safety fence for pool, solar screens.

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: Lone Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k326k

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

Neighborhood: Lone Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10701616

* 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
Ruthe Deskin Elementary School Primary Regular 624 36 6
Justice M E Leavitt Middle School Middle Regular 1,496 64 NA
Centennial High School High Regular 3,055 124 6

Ruthe Deskin Elementary School

  • Education Level: Primary
  • # of students: 624
  • # of teachers: 36
6
GreatSchools Rating

Justice M E Leavitt Middle School

  • Education Level: Middle
  • # of students: 1,496
  • # of teachers: 64
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$400,500$489,500$445,000

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,642
Property Tax -$307
Property Insurance -$83
Property Management Fees -$119
CASH FLOW
-$111

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.

$445,000

PROJECTED PRICE

$2,040

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.3%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$123,675

INVESTMENT

$123,675

Down Payment
$111,250
Rehab Estimate
$5,750
Closing Costs
$6,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,642

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $111,250
Loan Amount $333,750
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$24,124

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,998

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,849
1$1,8492$1,9903$2,0404$2,1005$2,200
$2,200
RENT COMPS ANALYSIS
  • 7420 Shallow Glen Court Las Vegas, NV 3
    • 5 beds 2 baths ∙ 2,896 Sqft ∙ Built 1992 5 beds 2 baths ∙ 2,896 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.70
    •  
  • 7335 Hollywood Park Avenue Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,733 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,733 Sqft ∙ Built 2003
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,849
    • $0.68
    •  
  • 4032 Wild Magic Las Vegas, NV 2
    • 4 beds 3 baths ∙ 3,023 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,023 Sqft ∙ Built 2003
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.66
    •  
  • 4041 Wild Magic Street Las Vegas, NV 4
    • 4 beds 2 baths ∙ 3,023 Sqft ∙ Built 2003 4 beds 2 baths ∙ 3,023 Sqft ∙ Built 2003
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.69
    •  
  • 4109 Dream Day Street Las Vegas, NV 5
    • 4 beds 2 baths ∙ 3,023 Sqft ∙ Built 2004 4 beds 2 baths ∙ 3,023 Sqft ∙ Built 2004
    LEASED 08/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.73
    •  
PROPERTY LISTING DETAILS
Ervin J Crampton
1.702.306.2773
Keller Williams Market Place
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2251823
Last Updated: 12/04/2020
BESbswy