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7429 Fort Wilkins Drive Las Vegas, NV 89129

3 Beds 2 Baths 1,884 sqft Built 1994

$319,000

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $169.32
  • 2 Days on Market
  • MLS # : 2248305
  • Updated Date : 11/14/2020 at 10:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,884 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Market Place I

Listing Agent's Description

Great single story in northwest pride-of-ownership neighborhood. Large lot and NO HOA! Super floor plan with vaulted ceilings and charming bay window in the formal living room/dining room. Cute wet bar and cozy fireplace in the family room. Kitchen has been remodeled. Bay window in the breakfast nook. Primary bedroom with oversized closet. Primary bathroom with double sinks, separate tub and shower and water closet. Laundry room with stackable washer/dryer and laundry sink. Home includes Solar! The beautiful and pleasant backyard features a covered patio with lush grass and fruit trees. This home won't last long!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Dorothy Eisenberg Elementary School Primary Regular 609 33 6
Irwin And Susan Molasky Junior High School Middle Regular 1,131 50 NA
Cimarron Memorial High School High Regular 2,541 102 3

Dorothy Eisenberg Elementary School

  • Education Level: Primary
  • # of students: 609
  • # of teachers: 33
6
GreatSchools Rating

Irwin And Susan Molasky Junior High School

  • Education Level: Middle
  • # of students: 1,131
  • # of teachers: 50
NA
GreatSchools Rating

Cimarron Memorial High School

  • Education Level: High
  • # of students: 2,541
  • # of teachers: 102
3
GreatSchools Rating
 

$287,100$350,900$319,000

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$1,177
Property Tax -$223
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
-$163

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.

$319,000

PROJECTED PRICE

$1,420

PROJECTED RENT

0.45%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,285

INVESTMENT

$90,285

Down Payment
$79,750
Rehab Estimate
$5,750
Closing Costs
$4,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,177

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,750
Loan Amount $239,250
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$11,026

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,601

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,420
1$1,4202$1,4503$1,4754$1,5995$1,600
$1,600
RENT COMPS ANALYSIS
  • 7429 Fort Wilkins Drive Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.75
    •  
  • 7621 Montblanc Court Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,754 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,754 Sqft ∙ Built 2005
    property image
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.83
    •  
  • 3968 Moon Tango Street Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,818 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,818 Sqft ∙ Built 2003
    property image
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.81
    •  
  • 7620 Zermatt Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,754 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,754 Sqft ∙ Built 2004
    property image
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.91
    •  
  • 7404 Gilmore Avenue Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,888 Sqft ∙ Built 1993 4 beds 2 baths ∙ 1,888 Sqft ∙ Built 1993
    property image
    LEASED 11/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.85
    •  
PROPERTY LISTING DETAILS
Heather R Keays
1.702.741.1515
Keller Williams Market Place I
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2248305
Last Updated: 11/14/2020
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