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7461 Burnt Oak Avenue Las Vegas, NV 89113

3 Beds 2 Baths 1,418 sqft Built 2003

INVESTimate

$339,900

List Price

$1,380

$1,242 - $1,518

Rent Est.

$358,425  ( +5.45%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2003
  • Price/Sqft : $239.70
  • 10 Days on Market
  • MLS # : 2222254
  • Updated Date : 08/25/2020 at 11:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,418 sqft
  • Baths : 2 full
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Follow the beautiful palm tree lined streets of Nevada Trails to this charming home! This single story home has great curb appeal on this desirable corner lot. Welcoming rotunda entry, wood like flooring throughout and ceiling fans in all rooms. Upgraded wood slider to the peaceful backyard. Backyard features a custom frame/stucco patio cover which makes an enjoyable outdoor living space to stay cool in the summer. Master suite features an oversize walk in closet, large soaking tub, separate shower and dual sinks. All kitchen appliances included including the refrigerator. Lots of great natural light in this turnkey home. You wont want to miss this one!! Excellent condition!

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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: Nevada Trails

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $119k520k

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

Neighborhood: Nevada Trails

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10762069

* 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
 

$305,910$373,890$339,900

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

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 $1,380
EXPENSES Loan Payment -$1,254
Property Tax -$213
Property Insurance -$55
HOA -$51
Property Management Fees -$119
CASH FLOW
-$312

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.

$339,900

PROJECTED PRICE

$1,380

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 5.45%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,824

INVESTMENT

$95,824

Down Payment
$84,975
Rehab Estimate
$5,750
Closing Costs
$5,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,975
Loan Amount $254,925
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$3,980

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,468

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,380
1$1,3802$1,3803$1,5504$1,5955$1,595
$1,595
RENT COMPS ANALYSIS
  • 7461 Burnt Oak Avenue Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.97
    •  
  • 7608 Belhurst Avenue Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,274 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,274 Sqft ∙ Built 2007
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $1.08
    •  
  • 7702 Mohawk Cliff Avenue Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 2004
    LEASED 10/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.01
    •  
  • 8225 Mozley Park Street Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 2007
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.99
    •  
  • 7625 Pallon Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,502 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,502 Sqft ∙ Built 2007
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.06
    •  
PROPERTY LISTING DETAILS
Danielle Gordon
1.702.501.5551
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222254
Last Updated: 08/25/2020
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