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7537 Chaffinch Street North Las Vegas, NV 89084

2 Beds 1 Baths 1,157 sqft Built 2007

INVESTimate

$289,900

List Price

$1,210

$1,089 - $1,331

Rent Est.

$316,774  ( +9.27%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $250.56
  • 6 Days on Market
  • MLS # : 2224242
  • Updated Date : 08/23/2020 at 22:12
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,157 sqft
  • Baths : 1 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

LIVE LIFE ON THE LINKS!! Darling little retirement bungalow was just freshly painted and professionally cleaned so it is move in ready for new owners. This cozy bright home has both a large gated front courtyard and covered back patio for outdoor entertaining and relaxation. Forever views of the golf course and mountains beyond from both the living room and Master bedroom. Tile floors in the living room, kitchen and baths. Carpeted bedrooms. Granite counter tops, stainless steel appliances, pantry, eating area and corner kitchen window shutters. Clothes washer and dryer included. 2nd fridge/freezer, storage cabinet and shelving in the garage can stay or go. Water softener in the garage and water filtration system under the kitchen sink. Beautiful Aliante Hotel and Casino within a mile. Less than 2 miles to freeways, shopping and more. This age qualified community provides many opportunities for leading an active, healthy lifestyle and social connections. ENJOY THE GOLDEN YEARS!!

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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: Sun City Aliante

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $110k308k

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

Neighborhood: Sun City Aliante

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9671606

* 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
Vincent L. Triggs Elementary School Primary Regular 761 40 7
Brian And Teri Cram Middle School Middle Regular 1,568 65 NA
Shadow Ridge High School High Regular 2,697 105 6

Vincent L. Triggs Elementary School

  • Education Level: Primary
  • # of students: 761
  • # of teachers: 40
7
GreatSchools Rating

Brian And Teri Cram Middle School

  • Education Level: Middle
  • # of students: 1,568
  • # of teachers: 65
NA
GreatSchools Rating

Shadow Ridge High School

  • Education Level: High
  • # of students: 2,697
  • # of teachers: 105
6
GreatSchools Rating
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,089$1,331$1,210

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

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 $1,210
EXPENSES Loan Payment -$1,070
Property Tax -$208
Property Insurance -$50
HOA -$200
Property Management Fees -$119
CASH FLOW
-$436

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.

$289,900

PROJECTED PRICE

$1,210

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.27%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$65

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,210

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,062

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,2003$1,2104$1,2505$1,295
$1,295
RENT COMPS ANALYSIS
  • 7537 Chaffinch Street North Las Vegas, NV 3
    • 2 beds 1 baths ∙ 1,157 Sqft ∙ Built 2007 2 beds 1 baths ∙ 1,157 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,210
    • $1.05
    •  
  • 2109 Bay Thrush Way North Las Vegas, NV 1
    • 2 beds 2 baths ∙ 1,157 Sqft ∙ Built 2005 2 beds 2 baths ∙ 1,157 Sqft ∙ Built 2005
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.86
    •  
  • 3508 Hazelnut Pine Place #2 North Las Vegas, NV 2
    • 2 beds 3 baths ∙ 1,332 Sqft ∙ Built 2004 2 beds 3 baths ∙ 1,332 Sqft ∙ Built 2004
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.90
    •  
  • 6748 Lavender Lilly Lane #2 North Las Vegas, NV 4
    • 2 beds 3 baths ∙ 1,332 Sqft ∙ Built 2005 2 beds 3 baths ∙ 1,332 Sqft ∙ Built 2005
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.94
    •  
  • 3416 Robust Robin Place #2 North Las Vegas, NV 5
    • 2 beds 3 baths ∙ 1,332 Sqft ∙ Built 2004 2 beds 3 baths ∙ 1,332 Sqft ∙ Built 2004
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.97
    •  
PROPERTY LISTING DETAILS
Joanne Scalzi
1.702.449.8315
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224242
Last Updated: 08/23/2020
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