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7442 Old Compton Street Las Vegas, NV 89166

4 Beds 4 Baths 2,642 sqft Built 2015

$429,900

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $162.72
  • 5 Days on Market
  • MLS # : 2277472
  • Updated Date : 03/13/2021 at 16:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,642 sqft
  • Baths : 2 full , 2 half
Listing Agent

Nexthome Community Real Estate

Listing Agent's Description

POPULAR PROVIDENCE 2 STORY HOME LOCATED IN ~GATED~ COMMUNITY HIGHLIGHTED BY A PREMIER LOT w/ OVER-SIZED BACKYARD & AMAZING STRIP & MOUNTIAN VIEWS*HERE YOU WILL FIND A HIGHLY DESIREABLE FLOOR PLAN WITH A THOUGHTFUL LAYOUT WITH THE PERFECT BLEND OF SPACE, FUNCTION & COMFORT FEATURING SEVERAL UPGRADED OPTIONS THROUGHOUT 2,642sqft OF LIVING SPACE ~ 4 LARGE BEDROOMS + LOFT & 4 BATHS*THE MAIN LEVEL IS HOST TO AN UPGRADED ISLAND KITCHEN THAT OPENS TO A GENEROUS GREAT ROOM, FORMAL DINING ROOM & BUTLER PANTRY*THE SECOND LEVEL PRESENTS A LARGE LOFT w/ BATH THAT LEADS TO A BALCONY TO ENJOY PANORAMIC VALLEY VIEWS, SEPARATE MASTER SUITE, LARGE SECONDARY BEDROOMS & LOADED UPSTAIRS LAUNDRY ROOM*STEP OUTSIDE TO A LARGE LOW MAINTENANCE BACK YARD WITH COVERED PATIO, SYNTHETIC GRASS & NO REAR NEIGHBORS*ADVANTAGEOUS LOCATION IN THE HEART OF THE PROVIDENCE MASTER PLAN NEAR SEVERAL COMMUNITY PARKS & SCHOOLS*$*ADDED VALUE: NO SID! PAID OFF*$* ~ DON’T MISS OUT ON THE OPPORTUNITY TO MAKE THIS YOUR NextHome!

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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: Cliffs Edge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Cliffs Edge

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
Henry And Evelyn Bozarth Elementary School Primary Regular 905 40 8
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Arbor View High School High Regular 2,878 116 9

Henry And Evelyn Bozarth Elementary School

  • Education Level: Primary
  • # of students: 905
  • # of teachers: 40
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
 

$386,910$472,890$429,900

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$1,493
Property Tax -$356
Property Insurance -$78
Property Management Fees -$119
CASH FLOW
$203

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.

$429,900

PROJECTED PRICE

$2,250

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.9%
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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,674

INVESTMENT

$119,674

Down Payment
$107,475
Rehab Estimate
$5,750
Closing Costs
$6,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,493

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $107,475
Loan Amount $322,425
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$47,117

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,094

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9003$2,1004$2,1755$2,250
$2,250
RENT COMPS ANALYSIS
  • 7442 Old Compton Street Las Vegas, NV 5
    • 4 beds 4 baths ∙ 2,642 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,642 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.85
    •  
  • 7710 Albright Peak Drive Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,601 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,601 Sqft ∙ Built 2013
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.71
    •  
  • 10416 Loma Portal Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,460 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,460 Sqft ∙ Built 2008
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.77
    •  
  • 10548 Laurel Mountain Lane Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,516 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,516 Sqft ∙ Built 2017
    property image
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.83
    •  
  • 10150 Tarbell Grove Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,535 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,535 Sqft ∙ Built 2014
    property image
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.86
    •  
PROPERTY LISTING DETAILS
Peter Torsiello
1.702.743.2333
Nexthome Community Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2277472
Last Updated: 03/13/2021
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