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7645 Sweet Mist Avenue Las Vegas, NV 89178

4 Beds 3 Baths 2,495 sqft Built 2014

$424,900

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2014
  • Price/Sqft : $170.30
  • 4 Days on Market
  • MLS # : 2244145
  • Updated Date : 11/07/2020 at 02:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,495 sqft
  • Baths : 3 full
Listing Agent

Movoto, Inc

Listing Agent's Description

Highly upgraded Toll Brothers home in GATED community Mirsol at Mountains Edge. This warm home has 4 bedrooms plus a loft upstairs. The downstairs floors have diagonally set tile and NEW carpet upstairs. The kitchen features granite counters, island, pantry, stainless steel appliances, new refrigerator, and windows looking out into cozy backyard finished with pavers, covered patio, artificial grass and gas line for delicious BBQ grilling! The primary bedroom suite has a large walk in closet and the laundry room is conveniently located on the 2nd floor. This beauty has a ton of natural light, storage and all appliances, HVAC, and instant water heater have been fully maintained. All of this plus a Community pool and clubhouse. The SID has been paid in full. Furniture negotiable.

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: 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
 

$382,410$467,390$424,900

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 -$1,568
Property Tax -$285
Property Insurance -$76
Property Management Fees -$119
CASH FLOW
-$167

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.

$424,900

PROJECTED PRICE

$1,880

PROJECTED RENT

0.44%

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$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,349

INVESTMENT

$118,349

Down Payment
$106,225
Rehab Estimate
$5,750
Closing Costs
$6,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,225
Loan Amount $318,675
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$18,893

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
  • $0.75

    LIST RENT PER SQFT
  • $1,877

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,8804$1,9005$1,950
$1,950
RENT COMPS ANALYSIS
  • 7645 Sweet Mist Avenue Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,495 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,495 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.75
    •  
  • 7848 Carysford Avenue Las Vegas, NV 1
    • 3 beds 4 baths ∙ 2,366 Sqft ∙ Built 2007 3 beds 4 baths ∙ 2,366 Sqft ∙ Built 2007
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.74
    •  
  • 7785 Santos Bay Court Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,318 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,318 Sqft ∙ Built 2016
    property image
    LEASED 01/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.78
    •  
  • 7227 Childers Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 2007
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.76
    •  
  • 10373 Montes Vascos Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,661 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,661 Sqft ∙ Built 2007
    property image
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.73
    •  
PROPERTY LISTING DETAILS
Christine Fitzpatrick
1.702.768.5599
Movoto, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244145
Last Updated: 11/07/2020
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