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756 Connex Court Las Vegas, NV 89178

4 Beds 3 Baths 2,492 sqft Built 2007

INVESTimate

$349,000

List Price

$1,630

$1,467 - $1,793

Rent Est.

$383,167  ( +9.79%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $140.05
  • 5 Days on Market
  • MLS # : 2223974
  • Updated Date : 08/25/2020 at 10:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,492 sqft
  • Baths : 3 full
Listing Agent

Local Realty

Listing Agent's Description

This BEAUTIFUL home has recently gotten a face lift with newly painted cabinets! Spacious Open Floor Plan w/ 4 Beds, one of the 4 bedrooms is downstairs with a full bath also downstairs, 3 Baths, & Loft! Island Kitchen w/ Stainless Steel Appl.; corian countertops/sink; pantry and nook; laundry room down stairs, wood laminate/tile/carpet flooring; two tone paint, blinds T/O, Tiffany Lamp in dining room, ceiling fans, custom closet organizers, large patio, All appliances included except for refrigerator.

SEE MORE

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: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
Robert L. Forbuss Elementary School Primary Regular 1,163 56 7
Wilbur And Theresa Faiss Middle School Middle Regular 1,409 61 NA
Sierra Vista High School High Regular 2,396 88 4

Robert L. Forbuss Elementary School

  • Education Level: Primary
  • # of students: 1,163
  • # of teachers: 56
7
GreatSchools Rating

Wilbur And Theresa Faiss Middle School

  • Education Level: Middle
  • # of students: 1,409
  • # of teachers: 61
NA
GreatSchools Rating

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

$314,100$383,900$349,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

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-$5.0k$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,288
Property Tax -$270
Property Insurance -$75
HOA -$54
Property Management Fees -$119
CASH FLOW
-$176

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.

$349,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.79%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,235

INVESTMENT

$98,235

Down Payment
$87,250
Rehab Estimate
$5,750
Closing Costs
$5,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,288

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,250
Loan Amount $261,750
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$11,723

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,788

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,630
1$1,6302$1,6753$1,6854$1,8005$1,925
$1,925
RENT COMPS ANALYSIS
  • 756 Connex Court Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,492 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,492 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.65
    •  
  • 789 Calstock Court #0 Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,322 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,322 Sqft ∙ Built 2007
    property image
    LEASED 10/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.72
    •  
  • 779 Chapleton Court Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,492 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,492 Sqft ∙ Built 2006
    property image
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $0.68
    •  
  • 703 Newquay Court Las Vegas, NV 4
    • 5 beds 3 baths ∙ 2,532 Sqft ∙ Built 2007 5 beds 3 baths ∙ 2,532 Sqft ∙ Built 2007
    property image
    LEASED 10/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.71
    •  
  • 699 Chepstow Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,532 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,532 Sqft ∙ Built 2007
    property image
    LEASED 08/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.76
    •  
PROPERTY LISTING DETAILS
Jamie C Mclain
1.702.544.7996
Local Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223974
Last Updated: 08/25/2020
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