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7508 Central Butte Avenue Las Vegas, NV 89129

4 Beds 2 Baths 2,167 sqft Built 1998

$414,900

List Price

$2,010

$1.8K - $2.2K

Rent Est.

$115,699

Investment Est.

PROPERTY INFO

December 29, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $191.46
  • 6 Days on Market
  • MLS # : 2258143
  • Updated Date : 01/02/2021 at 23:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,167 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Market Place

Listing Agent's Description

Open tri level floorplan perfect for entertaining! This home was totally remodeled around 2016, walls were removed and the home made extremely functional. Kitchen with custom cabinets, tons of granite counters, huge island, breakfast bar, stainless steel appliances and a pantry. Family room with custom fireplace and custom ceiling fan. Master bedroom with custom ceiling fan. 3 secondary bedrooms with custom ceiling fans. Custom paint throughout, Hand cut engendered hardwood floors throughout and low E windows. Out back is like a private oasis with a covered patio, deck, porch and a sparkling heated pool and spa.2 Full R/V parking areas one with water, sewer, electric. Huge storage shed and park like landscaping.

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MARKET HIGHLIGHTS

Las Vegas Market Report
  • 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)
  • 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)

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
 

FINANCIALS

Learn how to read this

$373,410$456,390$414,900

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING
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FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,531
Property Tax -$280
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
$11

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.

$414,900

PROJECTED PRICE

$2,010

PROJECTED RENT

0.48%

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,699

INVESTMENT

$115,699

Down Payment		 $103,725
Rehab Estimate		 $5,750
Closing Costs		 $6,224

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,725
Loan Amount $311,175
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$33,759

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT

  • $0.93

    LIST RENT PER SQFT

  • $1,761

    COMP ESTIMATED VALUE

  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,7953$1,8454$2,0105$2,100
$2,100
RENT COMPS ANALYSIS
  • 7508 Central Butte Avenue Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,167 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,167 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.93
    •  
  • 7613 Advantage Court Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,030 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,030 Sqft ∙ Built 1995
    property image
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.76
    •  
  • 7636 Winterthur Court #0 Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,304 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,304 Sqft ∙ Built 2004
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.78
    •  
  • 7609 Winterthur Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,304 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,304 Sqft ∙ Built 2005
    property image
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.80
    •  
  • 7612 Zermatt Avenue Las Vegas, NV 5
    • 3 beds 2 baths ∙ 2,304 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,304 Sqft ∙ Built 2004
    property image
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.91
    •  
PROPERTY LISTING DETAILS
LISTING AGENT
Timothy W Hanson
1.702.939.0000
Keller Williams Market Place
BUYER AGENT
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
SOURCE
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2258143
Last Updated: 01/02/2021

All returns, cash flow, and appreciation estimates are projections. Please review our Disclaimer for more information.

All values are rounded to the nearest dollar.
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