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7667 Rising Port Avenue Las Vegas, NV 89113

3 Beds 2 Baths 1,274 sqft Built 2007

$288,000

List Price

$1,290

$1.2K - $1.4K

Rent Est.

$82,070

Investment Est.

PROPERTY INFO

SINGLE-FAMILY
February 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $226.06
  • 2 Days on Market
  • MLS # : 2271683
  • Updated Date : 02/20/2021 at 16:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,274 sqft
  • Baths : 2 full
Listing Agent

Simply Vegas

Listing Agent's Description

Gated community with pool and spa, playground, 3 beedroom, 2 full bath 2 car garage, one bedroom and a bath downstairs, minutes to schools and shopping centers, easy access to I-215. Property is located in a quiet neighborhood of the new Southwest Las Vegas.

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MARKET HIGHLIGHTS

Las Vegas Market Report
  • 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: 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
Judi D. Steele Elementary School Primary Regular 858 43 8
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Sierra Vista High School High Regular 2,396 88 4

Judi D. Steele Elementary School

  • Education Level: Primary
  • # of students: 858
  • # of teachers: 43
8
GreatSchools Rating

Lawrence And Heidi Canarelli Middle School

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

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

FINANCIALS

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$259,200$316,800$288,000

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING
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FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$1,000
Property Tax -$180
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
-$62

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.

$288,000

PROJECTED PRICE

$1,290

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation

  • Principal

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,070

INVESTMENT

$82,070

Down Payment		 $72,000
Rehab Estimate		 $5,750
Closing Costs		 $4,320

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,000

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,000
Loan Amount $216,000
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$14,147

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT

  • $1.01

    LIST RENT PER SQFT

  • $1,354

    COMP ESTIMATED VALUE

  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,290
1$1,2902$1,4253$1,4954$1,5505$1,600
$1,600
RENT COMPS ANALYSIS
  • 7667 Rising Port Avenue Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,274 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,274 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $1.01
    •  
  • 7312 Fountain Village Avenue Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,426 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,426 Sqft ∙ Built 2006
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.00
    •  
  • 7283 Forest Village Avenue Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 2006
    property image
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.08
    •  
  • 7654 Pioneer Ranch Avenue Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 2004
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.08
    •  
  • 7382 Shelbourne Avenue Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,471 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,471 Sqft ∙ Built 2006
    property image
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.09
    •  
PROPERTY LISTING DETAILS
LISTING AGENT
Changzai Ren
1.702.628.6632
Simply Vegas
BUYER AGENT
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
SOURCE
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2271683
Last Updated: 02/20/2021

All returns, cash flow, and appreciation estimates are projections. Please review our Disclaimer for more information.

All values are rounded to the nearest dollar.
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