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7530 Mycroft Court Las Vegas, NV 89147

4 Beds 3 Baths 1,849 sqft Built 1994

$359,500

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $194.43
  • 9 Days on Market
  • MLS # : 2270130
  • Updated Date : 02/19/2021 at 18:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,849 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homeland Realty Llc

Listing Agent's Description

Newly renovated 4 bedroom home in the spring Valley community, easy access to shopping , school , strip hotels. nice Park is 1min away from home. Granite counter tops in kitchen and bathrooms. artificial grass saves your water bill. big patio in the back yard.

SEE MORE

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: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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
Frank Kim Elementary School Primary Regular 575 34 6
Lawrence Junior High School Middle Regular 1,421 61 NA
Spring Valley High School High Regular 1,925 79 4

Frank Kim Elementary School

  • Education Level: Primary
  • # of students: 575
  • # of teachers: 34
6
GreatSchools Rating

Lawrence Junior High School

  • Education Level: Middle
  • # of students: 1,421
  • # of teachers: 61
NA
GreatSchools Rating

Spring Valley High School

  • Education Level: High
  • # of students: 1,925
  • # of teachers: 79
4
GreatSchools Rating
 

$323,550$395,450$359,500

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,249
Property Tax -$174
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
-$105

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.

$359,500

PROJECTED PRICE

$1,500

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.9%
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

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,018

INVESTMENT

$101,018

Down Payment
$89,875
Rehab Estimate
$5,750
Closing Costs
$5,393

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,249

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,875
Loan Amount $269,625
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$15,389

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,535

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5003$1,5004$1,5955$1,665
$1,665
RENT COMPS ANALYSIS
  • 7530 Mycroft Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,849 Sqft ∙ Built 1994 4 beds 3 baths ∙ 1,849 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.81
    •  
  • 4497 Satinwood Drive Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,833 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,833 Sqft ∙ Built 1985
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.82
    •  
  • 4446 Collingwood Street #n/a Las Vegas, NV 2
    • 4 beds 1 baths ∙ 1,903 Sqft ∙ Built 1993 4 beds 1 baths ∙ 1,903 Sqft ∙ Built 1993
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.79
    •  
  • 7601 Beverly Hills Drive Las Vegas, NV 4
    • 4 beds 4 baths ∙ 1,903 Sqft ∙ Built 1991 4 beds 4 baths ∙ 1,903 Sqft ∙ Built 1991
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.84
    •  
  • 7704 Little Valley Avenue #n/a Las Vegas, NV 5
    • 4 beds 1 baths ∙ 1,903 Sqft ∙ Built 1993 4 beds 1 baths ∙ 1,903 Sqft ∙ Built 1993
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,665
    • $0.87
    •  
PROPERTY LISTING DETAILS
Terry Wang
1.702.506.8089
Homeland Realty Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2270130
Last Updated: 02/19/2021
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