Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

7561 Foolish Pleasure Drive Las Vegas, NV 89113

3 Beds 2 Baths 1,508 sqft Built 1997

$330,000

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $218.83
  • 3 Days on Market
  • MLS # : 2253681
  • Updated Date : 12/05/2020 at 14:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,508 sqft
  • Baths : 2 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Check out this single story, 3 bedroom, 2 bathroom home located in the Southwest! No HOA! Open floorplan includes kitchen with recessed lighting, a huge breakfast bar with stone detailing, and a custom stonework backsplash! Plantation shutters throughout. All hardwood flooring and tile. Epoxy garage floors with built in storage. Low maintenance Desert Landscaping. Gorgeous mountain views with no rear neighbors!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Sovana

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k321k

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

Neighborhood: Sovana

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100115012001250130013501400145015001550160016501700Rent in $10701722

* 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
Marion B. Earl Elementary School Primary Regular 727 38 6
Grant Sawyer Middle School Middle Regular 1,308 52 NA
Durango High School High Regular 2,302 95 5

Marion B. Earl Elementary School

  • Education Level: Primary
  • # of students: 727
  • # of teachers: 38
6
GreatSchools Rating

Grant Sawyer Middle School

  • Education Level: Middle
  • # of students: 1,308
  • # of teachers: 52
NA
GreatSchools Rating

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$1,218
Property Tax -$190
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
-$203

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.

$330,000

PROJECTED PRICE

$1,380

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.6%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,218

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$9,308

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,482

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,380
1$1,3802$1,4503$1,4954$1,4995$1,595
$1,595
RENT COMPS ANALYSIS
  • 7561 Foolish Pleasure Drive Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.92
    •  
  • 7443 Hawk Shadow Avenue Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,395 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,395 Sqft ∙ Built 1997
    property image
    LEASED 10/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.04
    •  
  • 5748 Port Douglas Court #lot 6 Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,619 Sqft ∙ Built 2013 4 beds 3 baths ∙ 1,619 Sqft ∙ Built 2013
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.92
    •  
  • 7680 Almond Blossom Court Las Vegas, NV 4
    • 3 beds 1 baths ∙ 1,602 Sqft ∙ Built 2001 3 beds 1 baths ∙ 1,602 Sqft ∙ Built 2001
    property image
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.94
    •  
  • 7600 Buckpasser Avenue #0 Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 1999
    property image
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.03
    •  
PROPERTY LISTING DETAILS
Emily Coldren
1.702.981.9782
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2253681
Last Updated: 12/05/2020
BESbswy