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7616 Monomoy Bay Avenue Las Vegas, NV 89179

4 Beds 3 Baths 2,220 sqft Built 2017

$389,900

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $175.63
  • 2 Days on Market
  • MLS # : 2246578
  • Updated Date : 11/07/2020 at 19:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,220 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

BETTER THAN NEW DR HORTON SMART HOME IN A GATED COMMUNITY*TILE FLOORING DOWNSTAIRS*KITCHEN WITH LARGE ISLAND, PANTRY AND CUSTOM CABINETS*BREAKFAST AREA WITH SLIDERS TO BACK YARD*COVERED PATIO*SPACIOUS LIVING AREA*ALL TILE FLOORING DOWNSTAIRS*HUGE 4TH BEDROOM UPSTAIRS*PRIMARY BEDROOM SEPARATE FROM OTHERS WITH WALK IN CLOSET*TUB & SHOWER*DOUBLE VANITIES*BALCONY WITH MOUNTAIN VIEWS OFF PRIMARY BEDROOM*SECONDARY BEDROOMS WITH CLOSETS*LIGHT AND BRIGHT*LOCKS, LIGHTS, THERMOSTATS OPERATED BY ALEXA*MUST SEE!

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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: Mountain Edge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Mountain Edge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10391875

* 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
Carolyn Reedom Elementary School Primary Regular 1,097 58 6
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Carolyn Reedom Elementary School

  • Education Level: Primary
  • # of students: 1,097
  • # of teachers: 58
6
GreatSchools Rating

Lois And Jerry Tarkanian Middle School

  • Education Level: Middle
  • # of students: 1,739
  • # of teachers: 71
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$350,910$428,890$389,900

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,439
Property Tax -$302
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
-$130

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.

$389,900

PROJECTED PRICE

$1,800

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.4%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,074

INVESTMENT

$109,074

Down Payment
$97,475
Rehab Estimate
$5,750
Closing Costs
$5,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,439

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,475
Loan Amount $292,425
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$18,833

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,782

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7503$1,8004$1,8005$1,900
$1,900
RENT COMPS ANALYSIS
  • 7616 Monomoy Bay Avenue Las Vegas, NV 4
    • 4 beds 4 baths ∙ 2,220 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,220 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.81
    •  
  • 7614 Frenchmans Bay Avenue Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,220 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,220 Sqft ∙ Built 2018
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.79
    •  
  • 7420 Pepperbox Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,232 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,232 Sqft ∙ Built 2011
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.78
    •  
  • 10591 Peach Creek Street Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,314 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,314 Sqft ∙ Built 2007
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.78
    •  
  • 10880 Woods Hole Bay Street Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,220 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,220 Sqft ∙ Built 2018
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.86
    •  
PROPERTY LISTING DETAILS
Natalya Kattau
1.702.249.0211
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2246578
Last Updated: 11/07/2020
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