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7605 Parakeet Avenue Las Vegas, NV 89145

4 Beds 1 Baths 1,519 sqft Built 1978

$309,900

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $204.02
  • 4 Days on Market
  • MLS # : 2250455
  • Updated Date : 11/28/2020 at 09:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,519 sqft
  • Baths : 1 full
Listing Agent

Top Tier Realty

Listing Agent's Description

MOVE IN READY! Beautiful Single story 4 bedroom home. No HOA! Open floorplan with large family room and dining area. Kitchen has fresh paint, STOVE TOP and BUILT IN OVEN, ample counter space featuring a BREAKFAST BAR. Relax in the large delightful backyard with COVERED PATIO and SHED. *EXTERIOR PAINTED and looks like new! The OVERSIZED 2 Car Garage includes CABINETS for extra storage. WIDE driveway for extra front parking and MORE. Located near Alta and Buffalo minutes away from Schools, Shopping, Mature landscaping including a pomegranate tree. Such a Great Value! Won't last long. *Sellers had home inspected and have meticulously repaired all items that came up on the inspection. They have gone above and beyond to make sure the new owners will have everything they need for a worry free transition.

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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: Angel Park Lindell

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $91k296k

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

Neighborhood: Angel Park Lindell

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9111606

* 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
Helen Marie Smith Elementary School Primary Regular 487 30 7
Walter Johnson Junior High School Middle Regular 1,102 50 NA
Bonanza High School High Regular 2,003 83 3

Helen Marie Smith Elementary School

  • Education Level: Primary
  • # of students: 487
  • # of teachers: 30
7
GreatSchools Rating

Walter Johnson Junior High School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 50
NA
GreatSchools Rating

Bonanza High School

  • Education Level: High
  • # of students: 2,003
  • # of teachers: 83
3
GreatSchools Rating
 

$278,910$340,890$309,900

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$1,143
Property Tax -$130
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
-$9

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.

$309,900

PROJECTED PRICE

$1,440

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.1%
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$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$87,874

INVESTMENT

$87,874

Down Payment
$77,475
Rehab Estimate
$5,750
Closing Costs
$4,649

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,143

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,475
Loan Amount $232,425
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$24,701

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,424

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,345
1$1,3452$1,3503$1,4404$1,5005$1,595
$1,595
RENT COMPS ANALYSIS
  • 7605 Parakeet Avenue Las Vegas, NV 3
    • 4 beds 1 baths ∙ 1,519 Sqft ∙ Built 1978 4 beds 1 baths ∙ 1,519 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.95
    •  
  • 232 Antelope Way #0 Las Vegas, NV 1
    • 4 beds 1 baths ∙ 1,519 Sqft ∙ Built 1976 4 beds 1 baths ∙ 1,519 Sqft ∙ Built 1976
    property image
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.89
    •  
  • 7756 Brothers Bay Court Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 1987
    property image
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.89
    •  
  • 7701 Macaw Lane Las Vegas, NV 4
    • 4 beds 1 baths ∙ 1,519 Sqft ∙ Built 1977 4 beds 1 baths ∙ 1,519 Sqft ∙ Built 1977
    property image
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.99
    •  
  • 7608 Seagull Avenue Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1978
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.98
    •  
PROPERTY LISTING DETAILS
Jennifer J Wagner
1.702.300.4302
Top Tier Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2250455
Last Updated: 11/28/2020
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