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7609 Lowe Avenue Las Vegas, NV 89131

3 Beds 3 Baths 1,883 sqft Built 1998

$240,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $127.46
  • 3 Days on Market
  • MLS # : 2249825
  • Updated Date : 11/21/2020 at 08:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,883 sqft
  • Baths : 2 full , 1 half
Listing Agent

Go Global Realty

Listing Agent's Description

The property has a good potential. Cozy and bright house w/ 3bedrooms, 2 and half bath, 2 cars garage, and good size of back yard w/ covered patio.

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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: Paloma

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $101k296k

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

Neighborhood: Paloma

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9771606

* 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
Thomas O'roarke Elementary School Primary Regular 817 42 9
Ralph Cadwallader Middle School Middle Regular 1,480 63 NA
Arbor View High School High Regular 2,878 116 9

Thomas O'roarke Elementary School

  • Education Level: Primary
  • # of students: 817
  • # of teachers: 42
9
GreatSchools Rating

Ralph Cadwallader Middle School

  • Education Level: Middle
  • # of students: 1,480
  • # of teachers: 63
NA
GreatSchools Rating

Arbor View High School

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

$216,000$264,000$240,000

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 -$886
Property Tax -$200
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
$172

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.

$240,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.4%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$36,780

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
  • $0.76

    LIST RENT PER SQFT
  • $1,488

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,4403$1,5504$1,5505$1,600
$1,600
RENT COMPS ANALYSIS
  • 7609 Lowe Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,883 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,883 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.76
    •  
  • 7900 Horn Tail Court #0 Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,703 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,703 Sqft ∙ Built 2000
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.81
    •  
  • 7919 Horn Tail Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,901 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,901 Sqft ∙ Built 2000
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.82
    •  
  • 7621 Eclat Court Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,058 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,058 Sqft ∙ Built 2000
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.75
    •  
  • 7629 Certitude Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,058 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,058 Sqft ∙ Built 2000
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.78
    •  
PROPERTY LISTING DETAILS
Do Jun Park
1.702.439.2085
Go Global Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249825
Last Updated: 11/21/2020
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