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7708 Beverly Hills Drive Las Vegas, NV 89147

4 Beds 2 Baths 2,119 sqft Built 1991

$319,900

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1991
  • Price/Sqft : $150.97
  • 6 Days on Market
  • MLS # : 2243215
  • Updated Date : 10/30/2020 at 10:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,119 sqft
  • Baths : 2 full
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

DON'T MISS OUT ON THIS HOME, LOCATED IN THE SOUTHWEST PART OF TOWN! This home offers 4 Bedrooms, 3 baths plus a Den, with one bedroom downstairs. Vaulted ceilings as you walk in to the main living room, tile on the first floor and hardwood flooring on the second floor. Kitchen has been updated with granite countertops, stainless steel applainces and refinished cabinets. Formal dinning area leads into the den, perfect for entertaining and second living room offers a fireplace. Pivate backyard with covered patio. Home is minutes away from the strip and close to freeways and schools.

SEE MORE

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: 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
Frank Kim Elementary School Primary Regular 575 34 6
Lawrence Junior High School Middle Regular 1,421 61 NA
Spring Valley High School High Regular 1,925 79 4

Frank Kim Elementary School

  • Education Level: Primary
  • # of students: 575
  • # of teachers: 34
6
GreatSchools Rating

Lawrence Junior High School

  • Education Level: Middle
  • # of students: 1,421
  • # of teachers: 61
NA
GreatSchools Rating

Spring Valley High School

  • Education Level: High
  • # of students: 1,925
  • # of teachers: 79
4
GreatSchools Rating
 

$287,910$351,890$319,900

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$1,180
Property Tax -$180
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
-$28

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.

$319,900

PROJECTED PRICE

$1,520

PROJECTED RENT

0.48%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,180

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$22,809

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
  • $0.72

    LIST RENT PER SQFT
  • $1,663

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,520
1$1,5202$1,6953$1,7504$1,8005$1,800
$1,800
RENT COMPS ANALYSIS
  • 7708 Beverly Hills Drive Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,119 Sqft ∙ Built 1991 4 beds 2 baths ∙ 2,119 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.72
    •  
  • 7965 Bonaventure Drive #0 Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,158 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,158 Sqft ∙ Built 1996
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.79
    •  
  • 4755 Norfolk Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,266 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,266 Sqft ∙ Built 1988
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.77
    •  
  • 8117 Sundown Vista Avenue Las Vegas, NV 4
    • 5 beds 2 baths ∙ 2,274 Sqft ∙ Built 1995 5 beds 2 baths ∙ 2,274 Sqft ∙ Built 1995
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.79
    •  
  • 4738 Beaconsfield Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,266 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,266 Sqft ∙ Built 1987
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.79
    •  
PROPERTY LISTING DETAILS
Basilio Rodriguez
1.702.217.4842
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243215
Last Updated: 10/30/2020
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