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7705 Robinglen Avenue Las Vegas, NV 89131

3 Beds 3 Baths 2,284 sqft Built 1998

$399,500

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $174.91
  • 5 Days on Market
  • MLS # : 2248965
  • Updated Date : 11/19/2020 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,284 sqft
  • Baths : 2 full , 1 half
Listing Agent

Hudson Real Estate

Listing Agent's Description

IF YOUR LOOKING FOR A FULLY RENNOVATED, UGRADED AND UPDATED 3 BEDROOM HOME + LOFT / BONUS ROOM THAT HAS JUST HAD OVER 100K WORTH OF IMPROVEMENTS TO INCLUDE NEW KITCHEN, HIGHLY UPGRADED FLOORING, GRANTITE COUNTER TOPS, STAINLESS STEEL APPLIANCES, VAULTED CEILINGS, SEPARATE FAMILY ROOM, OVERSIZED BEDROOMS, TWO TONE PAINT, CUSTOM AND HIGHLY UPGRADED KITCHEN CABINETS, WET BAR, THAT HAS A GREAT FLOOR PLAN WITH LOTS OF LIGHT THEN LOOK NO FURTHER!

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: Northern Lights at Elkhorn Springs

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k366k

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

Neighborhood: Northern Lights at Elkhorn Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10711607

* 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
Betsey Rhodes Elementary School Primary Regular 664 36 8
Ralph Cadwallader Middle School Middle Regular 1,480 63 NA
Arbor View High School High Regular 2,878 116 9

Betsey Rhodes Elementary School

  • Education Level: Primary
  • # of students: 664
  • # of teachers: 36
8
GreatSchools Rating

Ralph Cadwallader Middle School

  • Education Level: Middle
  • # of students: 1,480
  • # of teachers: 63
NA
GreatSchools Rating

Arbor View High School

  • Education Level: High
  • # of students: 2,878
  • # of teachers: 116
9
GreatSchools Rating
 

$359,550$439,450$399,500

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$1,474
Property Tax -$238
Property Insurance -$71
Property Management Fees -$119
CASH FLOW
-$332

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.

$399,500

PROJECTED PRICE

$1,570

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
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

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$111,618

INVESTMENT

$111,618

Down Payment
$99,875
Rehab Estimate
$5,750
Closing Costs
$5,993

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,474

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,875
Loan Amount $299,625
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$6,102

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,662

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,570
1$1,5702$1,5953$1,6004$1,7005$1,800
$1,800
RENT COMPS ANALYSIS
  • 7705 Robinglen Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,284 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,284 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.69
    •  
  • 7808 Sparrowgate Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,284 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,284 Sqft ∙ Built 1997
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.70
    •  
  • 7725 Sparrowgate Avenue #- Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,284 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,284 Sqft ∙ Built 1997
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.70
    •  
  • 7729 Falconwing Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,284 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,284 Sqft ∙ Built 1999
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.74
    •  
  • 7204 Buglehorn Las Vegas, NV 5
    • 3 beds 4 baths ∙ 2,348 Sqft ∙ Built 1999 3 beds 4 baths ∙ 2,348 Sqft ∙ Built 1999
    LEASED 06/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.77
    •  
PROPERTY LISTING DETAILS
Roger L Stein
1.702.871.9339
Hudson Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2248965
Last Updated: 11/19/2020
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