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7561 Cultural Court Las Vegas, NV 89149

3 Beds 3 Baths 2,137 sqft Built 2005

$335,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $156.76
  • 3 Days on Market
  • MLS # : 2269296
  • Updated Date : 02/13/2021 at 18:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,137 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Southwe

Listing Agent's Description

Gorgeous 2 story 3 bed/2.5 bath home in Centennial Hills. Excellent northwest Las Vegas community with a sparkling pool, sports courts, playground and more. Completely updated, new flooring, new paint, etc and ready for YOU! Must see interior is open and bright with tasteful upgrades from wall to wall. High ceilings, custom two tone paint and beautiful wood look and tile flooring throughout. Impressive entry way with enchanting trey ceiling. Stylish modern kitchen boasts gas cooking, sleek counters, an island/breakfast bar, and a sunny dining nook. All bedrooms are upstairs including a large loft with lots of possibilities. Master retreat is complete with a romantic fireplace, a balcony, a walk-in closet, and a full ensuite with dual sinks and a separate tub and shower. All just minutes from freeways, shopping, and restaurants. Don't wait, this one will go fast!!

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: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Sandra L. Thompson Elementary School Primary Regular 798 39 8
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Arbor View High School High Regular 2,878 116 9

Sandra L. Thompson Elementary School

  • Education Level: Primary
  • # of students: 798
  • # of teachers: 39
8
GreatSchools Rating

Edmundo Eddie Escobedo Sr Middle School

  • Education Level: Middle
  • # of students: 1,171
  • # of teachers: 47
NA
GreatSchools Rating

Arbor View High School

  • Education Level: High
  • # of students: 2,878
  • # of teachers: 116
9
GreatSchools Rating
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$1,164
Property Tax -$260
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
-$41

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.

$335,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
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$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,164

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$18,134

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,656

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,570
1$1,5702$1,6003$1,6504$1,6505$1,695
$1,695
RENT COMPS ANALYSIS
  • 7561 Cultural Court Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,137 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,137 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.73
    •  
  • 9161 Conquest Court Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,113 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,113 Sqft ∙ Built 2005
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.76
    •  
  • 9013 In Vogue Court Las Vegas, NV 3
    • 4 beds 4 baths ∙ 2,114 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,114 Sqft ∙ Built 2006
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.78
    •  
  • 7556 Cutting Edge Court Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,050 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,050 Sqft ∙ Built 2005
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.80
    •  
  • 9124 Palatial Palette Court Las Vegas, NV 5
    • 4 beds 4 baths ∙ 2,222 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,222 Sqft ∙ Built 2006
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.76
    •  
PROPERTY LISTING DETAILS
Lyndon Holdeman
1.702.335.0607
Keller Williams Realty Southwe
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2269296
Last Updated: 02/13/2021
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