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7571 Bethel Cove Court Las Vegas, NV 89166

2 Beds 3 Baths 1,579 sqft Built 2008

$305,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $193.16
  • 4 Days on Market
  • MLS # : 2257485
  • Updated Date : 12/24/2020 at 12:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,579 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

Providence highly upgraded former model home. Ceiling fans throughout. Bamboo hardwood flooring downstairs. Upgraded carpet upstairs. Kitchen w/granite counter tops, backsplash. Shutters. Custom built ins in living room. 3rd bedroom is set up as an office and has crown molding and built ins. Baths with granite counter tops. Semi-gloss paint. Built in cabinets in garage & bike hooks. Sprinkler system. Wired for an alarm. Community pool and playground.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Cliffs Edge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Cliffs Edge

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
Henry And Evelyn Bozarth Elementary School Primary Regular 905 40 8
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Arbor View High School High Regular 2,878 116 9

Henry And Evelyn Bozarth Elementary School

  • Education Level: Primary
  • # of students: 905
  • # of teachers: 40
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
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$1,125
Property Tax -$233
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
-$45

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.

$305,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.9%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$19,933

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,480

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,1853$1,1954$1,2505$1,250
$1,250
RENT COMPS ANALYSIS
  • 7571 Bethel Cove Court Las Vegas, NV 1
    • 2 beds 3 baths ∙ 1,579 Sqft ∙ Built 2008 2 beds 3 baths ∙ 1,579 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 9303 Gilcrease Avenue #2249 Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,268 Sqft ∙ Built 2005 2 beds 2 baths ∙ 1,268 Sqft ∙ Built 2005
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,185
    • $0.93
    •  
  • 8961 Careful Canvas Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,318 Sqft ∙ Built 2007 2 beds 2 baths ∙ 1,318 Sqft ∙ Built 2007
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.91
    •  
  • 7628 Bokhara Street Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,318 Sqft ∙ Built 2008 2 beds 2 baths ∙ 1,318 Sqft ∙ Built 2008
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.95
    •  
  • 7832 Drydust Court Las Vegas, NV 5
    • 2 beds 3 baths ∙ 1,302 Sqft ∙ Built 2008 2 beds 3 baths ∙ 1,302 Sqft ∙ Built 2008
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.96
    •  
PROPERTY LISTING DETAILS
Lavert O Benefield
1.702.857.7169
Exp Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2257485
Last Updated: 12/24/2020
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