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7429 Poppy Hills Court Las Vegas, NV 89113

3 Beds 3 Baths 2,024 sqft Built 2005

INVESTimate

$330,000

List Price

$1,600

$1,440 - $1,760

Rent Est.

$362,307  ( +9.79%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2005
  • Price/Sqft : $163.04
  • 9 Days on Market
  • MLS # : 2222754
  • Updated Date : 08/19/2020 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,024 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

An immaculate two-story home with high ceilings in the living room area, loft upstairs and separate family & living room downstairs. Tile flooring throughout downstairs and wet areas, carpet upstairs. Built in entertainment center and fireplace in family room. Granite counter-tops, upgraded cabinets, marble back-splash & custom lighting in kitchen.Master bed room with seating area. Master bath with separate roman tub and shower. Bathrooms with cultured marble counter-tops. Fridge, washer & dryer stays with the house. Covered patio with combined pavers and turf in backyard requires little maintenance .

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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: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
Judi D. Steele Elementary School Primary Regular 858 43 8
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Sierra Vista High School High Regular 2,396 88 4

Judi D. Steele Elementary School

  • Education Level: Primary
  • # of students: 858
  • # of teachers: 43
8
GreatSchools Rating

Lawrence And Heidi Canarelli Middle School

  • Education Level: Middle
  • # of students: 1,802
  • # of teachers: 70
NA
GreatSchools Rating

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,440$1,760$1,600

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$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 $1,600
EXPENSES Loan Payment -$1,218
Property Tax -$236
Property Insurance -$66
HOA -$30
Property Management Fees -$119
CASH FLOW
-$69

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.

$330,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.79%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,218

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$19,444

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,604

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,4953$1,5004$1,6005$1,750
$1,750
RENT COMPS ANALYSIS
  • 7429 Poppy Hills Court Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,024 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,024 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.79
    •  
  • 7464 Poppy Hills Court Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,024 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,024 Sqft ∙ Built 2005
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.74
    •  
  • 7445 South Pioneer Way #0 Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,023 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,023 Sqft ∙ Built 2005
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.74
    •  
  • 7481 South Pioneer Way Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,897 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,897 Sqft ∙ Built 2005
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.79
    •  
  • 7607 Stray Horse Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,944 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,944 Sqft ∙ Built 2006
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.90
    •  
PROPERTY LISTING DETAILS
Dawit Wolde
1.702.720.6576
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222754
Last Updated: 08/19/2020
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