Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

762 Clear Crest Circle Las Vegas, NV 89123

4 Beds 3 Baths 2,455 sqft Built 1994

$475,000

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $193.48
  • 5 Days on Market
  • MLS # : 2257203
  • Updated Date : 01/03/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,455 sqft
  • Baths : 2 full , 1 half
Listing Agent

Platinum R.e. Professionals

Listing Agent's Description

WHOA NELLY SUPER RARE FIND 3 CAR GARAGE RV PARKING AND POOL ON A HUGE LOT IN 89123 THE UNICORN TRIFECTA! A CALIFORNIA EXODUS FAVORITE! EASY TO SHOW Nice entry way leads to huge open floor plan dramatic stair case formal area. Chef like kitchen that overlooks the entertainment room. Take a stroll out back to your own oasis in the desert with gourmet outdoor bbq, covered patio and huge sparkling pool. The master can be your own huge private get away with relaxing spa like master bathroom. Huge secondary rooms. YOU CANT FIND THESE ANYMORE MASSIVE HOME SHORTAGE NO END IN SIGHT DONT DELAY CLICK TODAY!

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: 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
 

$427,500$522,500$475,000

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,753
Property Tax -$253
Property Insurance -$75
Property Management Fees -$119
CASH FLOW
-$230

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.

$475,000

PROJECTED PRICE

$1,970

PROJECTED RENT

0.41%

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$17,749

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,989

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,9503$1,9704$1,9955$2,000
$2,000
RENT COMPS ANALYSIS
  • 762 Clear Crest Circle Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,455 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,455 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.80
    •  
  • 772 Cornish Court Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,329 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,329 Sqft ∙ Built 1990
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.77
    •  
  • 8019 Skywall Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,329 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,329 Sqft ∙ Built 1991
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.84
    •  
  • 7734 Locke Haven Drive Las Vegas, NV 4
    • 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
    •  
  • 1066 Little Rock Las Vegas, NV 5
    • 5 beds 3 baths ∙ 2,390 Sqft ∙ Built 1997 5 beds 3 baths ∙ 2,390 Sqft ∙ Built 1997
    LEASED 07/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.84
    •  
PROPERTY LISTING DETAILS
Steve P Hawks
1.702.617.4637
Platinum R.e. Professionals
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2257203
Last Updated: 01/03/2021
BESbswy