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7656 Black River Street Las Vegas, NV 89139

4 Beds 3 Baths 1,655 sqft Built 2012

INVESTimate

$314,950

List Price

$1,520

$1,368 - $1,672

Rent Est.

$345,784  ( +9.79%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2012
  • Price/Sqft : $190.30
  • 10 Days on Market
  • MLS # : 2222694
  • Updated Date : 08/25/2020 at 11:57
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,655 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Market Place

Listing Agent's Description

*AMAZING TWO STORY HOME WITH PRIDE OF OWNERSHIP IN THE HEART OF ENTERPRISE*LARGE CORNER LOT*SPACIOUS TWO CAR GARAGE*OPEN FLOOR PLAN WITH TONS OF NATURAL LIGHTING*UPDATED FLOORING THROUGHOUT*LUXURY VINYL PLANK FLOORING*KITCHEN WITH AMPLE CABINET/COUNTER TOP SPACE, STAINLESS STEEL APPLIANCES, BUILT IN DOUBLE OVENS, RECESSED LIGHTING, BREAKFAST BAR & GRANITE COUNTER TOPS*SPACIOUS BEDROOMS*ALL BEDROOMS UPSTAIRS*MASTER BATHROOM WITH SHOWER ONLY*LARGE MASTER WALK-IN CLOSET*OPEN BACKYARD WITH COVERED PATIO & BUILT IN BBQ*PROPERTY IS LOCATED NEAR SHOPPING, DINING, ENTERTAINMENT & FREEWAY ACCESS*

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
Dr. Beverly S. Mathis Elementary School Primary Unknown NA
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Desert Oasis High School High Regular 2,417 102 5

Dr. Beverly S. Mathis Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Lawrence And Heidi Canarelli Middle School

  • Education Level: Middle
  • # of students: 1,802
  • # of teachers: 70
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$283,455$346,445$314,950

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$1,162
Property Tax -$230
Property Insurance -$59
HOA -$52
Property Management Fees -$119
CASH FLOW
-$103

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.

$314,950

PROJECTED PRICE

$1,520

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.79%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,212

INVESTMENT

$89,212

Down Payment
$78,738
Rehab Estimate
$5,750
Closing Costs
$4,724

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,738
Loan Amount $236,213
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$15,166

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,485

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4503$1,4954$1,5005$1,520
$1,520
RENT COMPS ANALYSIS
  • 7656 Black River Street Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,655 Sqft ∙ Built 2012 4 beds 3 baths ∙ 1,655 Sqft ∙ Built 2012
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.92
    •  
  • 5333 Floating Flower Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,493 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,493 Sqft ∙ Built 2006
    property image
    LEASED 09/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.94
    •  
  • 7588 Orchard Pine Street Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,557 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,557 Sqft ∙ Built 2005
    property image
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.93
    •  
  • 4963 Canadian Lynx Court Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,853 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,853 Sqft ∙ Built 2008
    property image
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.81
    •  
  • 5273 Coral Ribbon Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,649 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,649 Sqft ∙ Built 2005
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.91
    •  
PROPERTY LISTING DETAILS
Richard J Brenkus
1.702.900.5479
Keller Williams Market Place
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222694
Last Updated: 08/25/2020
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