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7632 Oyster Cove Drive Las Vegas, NV 89128

4 Beds 3 Baths 2,084 sqft Built 1990

$375,000

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $179.94
  • 33 Days on Market
  • MLS # : 2239637
  • Updated Date : 11/12/2020 at 21:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,084 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Market Place

Listing Agent's Description

*AMAZING TWO STORY HOME ON SPACIOUS LOT*PRIDE OF OWNERSHIP*GRAND FRONT ENTRY*WELL MAINTAINED LANDSCAPING*SPACIOUS THREE CAR GARAGE WITH FINISHED INTERIOR & AMPLE STORAGE*OPEN FLOOR PLAN WITH TONS OF NATURAL LIGHTING*COZY FIREPLACE IN LIVING ROOM*RECESSED LIGHTING*FAMILY ROOM WITH FRENCH DOOR EXIT*KITCHEN WITH GARDEN WINDOW, PANTRY, BUILT IN MICROWAVE, GRANITE COUNTERTOPS, STAINLESS STEEL APPLIANCES, & BREAKFAST BAR*SPACIOUS BEDROOMS*LARGE MASTER BEDROOM WITH DOUBLE SINKS, SEPERATE SHOWER/TUB COMBO, TUB WITH JETS*UPSTAIRS LANDING WITH STORAGE*AMAZING OPEN PRIVATE BACKYARD*BEAUTIFUL LUSH GREENERY*

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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: Desert Shores

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Desert Shores

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10761945

* 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
Dorothy Eisenberg Elementary School Primary Regular 609 33 6
Ernest Becker Middle School Middle Regular 1,392 56 NA
Cimarron Memorial High School High Regular 2,541 102 3

Dorothy Eisenberg Elementary School

  • Education Level: Primary
  • # of students: 609
  • # of teachers: 33
6
GreatSchools Rating

Ernest Becker Middle School

  • Education Level: Middle
  • # of students: 1,392
  • # of teachers: 56
NA
GreatSchools Rating

Cimarron Memorial High School

  • Education Level: High
  • # of students: 2,541
  • # of teachers: 102
3
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,384
Property Tax -$226
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
$83

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.

$375,000

PROJECTED PRICE

$1,880

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.5%
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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$39,676

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,860

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,8803$1,9004$1,9955$2,100
$2,100
RENT COMPS ANALYSIS
  • 7632 Oyster Cove Drive Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,084 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,084 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.90
    •  
  • 7709 Oyster Cove Drive Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,084 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,084 Sqft ∙ Built 1988
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.79
    •  
  • 7700 Oyster Cove Drive Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,047 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,047 Sqft ∙ Built 1990
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.93
    •  
  • 7608 Cruz Bay Court Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,247 Sqft ∙ Built 1989 4 beds 2 baths ∙ 2,247 Sqft ∙ Built 1989
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.89
    •  
  • 7628 Desert Delta Drive Las Vegas, NV 5
    • 3 beds 2 baths ∙ 2,180 Sqft ∙ Built 1990 3 beds 2 baths ∙ 2,180 Sqft ∙ Built 1990
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.96
    •  
PROPERTY LISTING DETAILS
Richard J Brenkus
1.702.456.5959
Keller Williams Market Place
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2239637
Last Updated: 11/12/2020
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