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7617 Chantilly Island Court Las Vegas, NV 89123

5 Beds 4 Baths 2,588 sqft Built 2005

$456,000

List Price

$2,310

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $176.20
  • 10 Days on Market
  • MLS # : 2261214
  • Updated Date : 01/20/2021 at 10:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,588 sqft
  • Baths : 2 full , 2 half
Listing Agent

First Mutual Realty Group

Listing Agent's Description

Wonderful 5 bedrooms and unlimted possibilities... Floor plan allows for much flexibility both up and down... Kitchen layout features plenty of counter space in addition to a center isle. Oversized corner lot with plenty of play or entertainment areas in addition to a large pool/spa combo. The location in the heart of Silverado Ranch keeps you in close proximity to shops, restaurants and Airport. More More more

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
Louis Wiener Jr Elementary School Primary Regular 701 39 7
Jack L. Schofield Middle School Middle Regular 1,332 51 NA
Silverado High School High Regular 2,263 94 5

Louis Wiener Jr Elementary School

  • Education Level: Primary
  • # of students: 701
  • # of teachers: 39
7
GreatSchools Rating

Jack L. Schofield Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 51
NA
GreatSchools Rating

Silverado High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
5
GreatSchools Rating
 

$410,400$501,600$456,000

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$1,584
Property Tax -$356
Property Insurance -$77
Property Management Fees -$119
CASH FLOW
$174

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.

$456,000

PROJECTED PRICE

$2,310

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
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$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$126,590

INVESTMENT

$126,590

Down Payment
$114,000
Rehab Estimate
$5,750
Closing Costs
$6,840

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,584

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $114,000
Loan Amount $342,000
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$44,945

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,310

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,297

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0003$2,3004$2,3105$2,750
$2,750
RENT COMPS ANALYSIS
  • 7617 Chantilly Island Court Las Vegas, NV 4
    • 5 beds 4 baths ∙ 2,588 Sqft ∙ Built 2005 5 beds 4 baths ∙ 2,588 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $0.89
    •  
  • 7734 Locke Haven Drive Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,539 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,539 Sqft ∙ Built 1994
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.79
    •  
  • 1565 White Drive Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,323 Sqft ∙ Built 1989 4 beds 2 baths ∙ 2,323 Sqft ∙ Built 1989
    LEASED 08/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.86
    •  
  • 7530 Demona Drive Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,475 Sqft ∙ Built 1988 4 beds 2 baths ∙ 2,475 Sqft ∙ Built 1988
    LEASED 01/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.93
    •  
  • 7609 Tamarus Las Vegas, NV 5
    • 5 beds 3 baths ∙ 2,839 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,839 Sqft ∙ Built 2005
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.97
    •  
PROPERTY LISTING DETAILS
James M Allen
1.702.210.4111
First Mutual Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261214
Last Updated: 01/20/2021
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