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7608 Trimming Court Las Vegas, NV 89149

3 Beds 3 Baths 2,049 sqft Built 2006

$290,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $141.53
  • 4 Days on Market
  • MLS # : 2258515
  • Updated Date : 01/01/2021 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,049 sqft
  • Baths : 2 full , 1 half
Listing Agent

Nevada State Properties

Listing Agent's Description

Welcome home! This 3 bedroom home is located in the Tapestry community in the Northwest, just miles from the Centennial Hills Hospital. Attached 2 car garage, eat in kitchen with tile flooring, upgraded cabinets and appliances, recessed lighting throughout with dimmers. Laundry room upstairs. Cozy primary bedroom with retreat and balcony access. Primary bathroom features a luxurious garden tub, double sinks, and separate shower. 2nd and third bedrooms share a "jack n jill" bathroom upstairs. Enjoy spending time at home or take a walk to the community pool or playground for some outdoor fun.

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: 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
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,070
Property Tax -$262
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
$32

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.

$290,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.53%

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$25,719

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,593

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6003$1,6004$1,6505$1,795
$1,795
RENT COMPS ANALYSIS
  • 7608 Trimming Court Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,049 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,049 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.76
    •  
  • 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
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.76
    •  
  • 7413 Delicious Court Las Vegas, NV 3
    • 4 beds 4 baths ∙ 2,114 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,114 Sqft ∙ Built 2005
    property image
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.76
    •  
  • 9013 In Vogue Court Las Vegas, NV 4
    • 4 beds 4 baths ∙ 2,114 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,114 Sqft ∙ Built 2006
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.78
    •  
  • 7661 Woven Sands Street Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,222 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,222 Sqft ∙ Built 2006
    property image
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.81
    •  
PROPERTY LISTING DETAILS
Heather Bautista
1.702.417.5320
Nevada State Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2258515
Last Updated: 01/01/2021
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