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7671 Mocorito Avenue Las Vegas, NV 89113

4 Beds 2 Baths 2,121 sqft Built 2004

$427,900

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $201.74
  • 3 Days on Market
  • MLS # : 2274194
  • Updated Date : 03/13/2021 at 03:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,121 sqft
  • Baths : 2 full
Listing Agent

Century 21 Americana

Listing Agent's Description

TWO STORY SINGLE FAMILY HOME WITH 4 BEDROOMS AND 3 BATHROOMS PROPERTY HAS GREAT POTENTIAL.HOME SITS ON A CORNER LOT IN A CUL-DE SAC. CONVENIENTLY LOCATED NEAR SHOPPING,TRANSIT, ENTERTAINMENT, AND DINING. SELLER WILL NOT COMPLETE ANY REPAIRS TO THE SUBJECT PROPERTY, EITHER LENDER OR BUYER REQUESTED. THE PROPERTY IS SOLD IN AS IS CONDITION.

SEE MORE

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: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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
Marion B. Earl Elementary School Primary Regular 727 38 6
Grant Sawyer Middle School Middle Regular 1,308 52 NA
Durango High School High Regular 2,302 95 5

Marion B. Earl Elementary School

  • Education Level: Primary
  • # of students: 727
  • # of teachers: 38
6
GreatSchools Rating

Grant Sawyer Middle School

  • Education Level: Middle
  • # of students: 1,308
  • # of teachers: 52
NA
GreatSchools Rating

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$385,110$470,690$427,900

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,486
Property Tax -$232
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
-$236

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.

$427,900

PROJECTED PRICE

$1,670

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,144

INVESTMENT

$119,144

Down Payment
$106,975
Rehab Estimate
$5,750
Closing Costs
$6,419

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,486

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,975
Loan Amount $320,925
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$10,456

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,782

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,670
1$1,6702$1,7003$1,7504$1,8505$1,900
$1,900
RENT COMPS ANALYSIS
  • 7671 Mocorito Avenue Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,121 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,121 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.79
    •  
  • 7435 Standing Timber Way Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,031 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,031 Sqft ∙ Built 2000
    property image
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.84
    •  
  • 7668 Montefrio Avenue Las Vegas, NV 3
    • 5 beds 2 baths ∙ 2,121 Sqft ∙ Built 2005 5 beds 2 baths ∙ 2,121 Sqft ∙ Built 2005
    property image
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.83
    •  
  • 7648 Mocorito Avenue Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,121 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,121 Sqft ∙ Built 2004
    property image
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.87
    •  
  • 5715 Port Douglas Court Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,321 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,321 Sqft ∙ Built 2013
    property image
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.82
    •  
PROPERTY LISTING DETAILS
Juan A Martinez
1.702.296.9999
Century 21 Americana
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2274194
Last Updated: 03/13/2021
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