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7516 Crystal Isle Way Las Vegas, NV 89128

3 Beds 3 Baths 1,523 sqft Built 1991

INVESTimate

$275,000

List Price

$1,350

$1,215 - $1,485

Rent Est.

$306,598  ( +11.49%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1991
  • Price/Sqft : $180.56
  • 7 Days on Market
  • MLS # : 2223746
  • Updated Date : 08/21/2020 at 11:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,523 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

This is the one! Easy access to 95, Summerlin Parkway, and 215. Close to shopping and soccer tournament fields. Plenty of room for entertaining or just to relax in the backyard. Once you step foot into this well taken care of home, you will realize how easy it is to call it HOME.

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MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Pioneer Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Pioneer Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9551606

* 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
Edythe And Lloyd Katz Elementary School Primary Regular 711 36 4
Ernest Becker Middle School Middle Regular 1,392 56 NA
Cimarron Memorial High School High Regular 2,541 102 3

Edythe And Lloyd Katz Elementary School

  • Education Level: Primary
  • # of students: 711
  • # of teachers: 36
4
GreatSchools Rating

Ernest Becker Middle School

  • Education Level: Middle
  • # of students: 1,392
  • # of teachers: 56
NA
GreatSchools Rating

Cimarron Memorial High School

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

$247,500$302,500$275,000

PURCHASE PRICE

$1,215$1,485$1,350

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-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$1,015
Property Tax -$176
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
-$17

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.

$275,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.49%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$20,121

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,489

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,325
1$1,3252$1,3503$1,3854$1,5005$1,650
$1,650
RENT COMPS ANALYSIS
  • 7516 Crystal Isle Way Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,523 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,523 Sqft ∙ Built 1991
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.89
    •  
  • 1448 Reef Ridge Court Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,420 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,420 Sqft ∙ Built 1997
    property image
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.93
    •  
  • 7553 Ortega Spring Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,393 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,393 Sqft ∙ Built 1997
    property image
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,385
    • $0.99
    •  
  • 7500 Council Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,531 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,531 Sqft ∙ Built 1993
    property image
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.98
    •  
  • 1416 Lucia Drive Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,629 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,629 Sqft ∙ Built 1991
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.01
    •  
PROPERTY LISTING DETAILS
Brandon Devere
1.702.281.0913
Exp Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223746
Last Updated: 08/21/2020
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