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7618 Phoenix Peak Street Las Vegas, NV 89166

3 Beds 3 Baths 2,114 sqft Built 2016

$374,000

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $176.92
  • 4 Days on Market
  • MLS # : 2266476
  • Updated Date : 02/05/2021 at 00:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,114 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

Looking for a beautiful 3-bedroom home with a loft, tons of community facilities in the Northwest and with OWNED solar!? This home sparkles with its open concept, granite counters, huge island with stainless kitchen appliances, beautiful linear fireplace with custom stacked stone and all within a short walk to the Club at Northern Terrace which offers residents a fitness center, clubhouse, 3 pools, spa, tennis courts, BBQ area, walking paths, playground, park, pet park. Providence Master Plan has several more parks, a Pavilion & social calendar w/events year-round. Check out the virtual tour to view this home virtually in 3D. Water softner with reverse osmosis system and all other appliances included…Welcome Home!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Cliffs Edge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Cliffs Edge

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
Henry And Evelyn Bozarth Elementary School Primary Regular 905 40 8
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Arbor View High School High Regular 2,878 116 9

Henry And Evelyn Bozarth Elementary School

  • Education Level: Primary
  • # of students: 905
  • # of teachers: 40
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
 

$336,600$411,400$374,000

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,299
Property Tax -$311
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
$123

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.

$374,000

PROJECTED PRICE

$1,920

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.9%
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$0.0$5.0k$10k$15k$20k

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$104,860

INVESTMENT

$104,860

Down Payment
$93,500
Rehab Estimate
$5,750
Closing Costs
$5,610

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,299

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,500
Loan Amount $280,500
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$35,537

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,918

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,7953$1,8604$1,9205$2,000
$2,000
RENT COMPS ANALYSIS
  • 7618 Phoenix Peak Street Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,114 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,114 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.91
    •  
  • 7928 Mineral Peak Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,985 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,985 Sqft ∙ Built 2016
    LEASED 02/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.89
    •  
  • 10624 Derby Peak Lane Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,985 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,985 Sqft ∙ Built 2012
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.90
    •  
  • 7644 Storm Peak Street Las Vegas, NV 3
    • 3 beds 2 baths ∙ 2,072 Sqft ∙ Built 2012 3 beds 2 baths ∙ 2,072 Sqft ∙ Built 2012
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.90
    •  
  • 7827 Sugarloaf Peak Street Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,122 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,122 Sqft ∙ Built 2007
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.94
    •  
PROPERTY LISTING DETAILS
Brandon L Bueltel
1.702.285.1528
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2266476
Last Updated: 02/05/2021
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