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7715 Wishing Pond Avenue Las Vegas, NV 89178

5 Beds 4 Baths 4,501 sqft Built 2006

$829,000

List Price

$2,640

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

December 06, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $184.18
  • 2 Days on Market
  • MLS # : 2253804
  • Updated Date : 12/05/2020 at 21:17
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,501 sqft
  • Baths : 3 full , 1 half
Listing Agent

General Realty Group Inc

Listing Agent's Description

Gorgeous, luxurious upgraded Toll Brother home in the desirable, gated community Madera. A must see! Over $150K in upgrades which includes upgraded flooring throughout entire home, custom shelves, cabinets, high end stainless steel appliances, granite countertops, spacious island for serving and entertaining, fireplaces, shutters, a master suite with sitting area, his and hers closets, and master bath with large shower and relaxing jacuzzi. Downstairs office, that can be a bedroom, has it's own private bathroom. Welcome to paradise in your own, very private backyard. Large backyard with mature landscaping, cover patio, palapas and large pool & spa where you can cool off during hot summers. Let's not forget the courtyard!!! Words don't do the justice.

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: Mountain Edge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Mountain Edge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10391875

* 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
Carolyn Reedom Elementary School Primary Regular 1,097 58 6
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Carolyn Reedom Elementary School

  • Education Level: Primary
  • # of students: 1,097
  • # of teachers: 58
6
GreatSchools Rating

Lois And Jerry Tarkanian Middle School

  • Education Level: Middle
  • # of students: 1,739
  • # of teachers: 71
NA
GreatSchools Rating

Desert Oasis High School

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

$746,100$911,900$829,000

PURCHASE PRICE

$2,376$2,904$2,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,640
EXPENSES Loan Payment -$3,059
Property Tax -$561
Property Insurance -$114
Property Management Fees -$119
CASH FLOW
-$1,213

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.

$829,000

PROJECTED PRICE

$2,640

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.4%
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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$225,435

INVESTMENT

$225,435

Down Payment
$207,250
Rehab Estimate
$5,750
Closing Costs
$12,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,059

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $207,250
Loan Amount $621,750
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$233

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,640

    LIST RENT
  • $0.59

    LIST RENT PER SQFT
  • $2,633

    COMP ESTIMATED VALUE
  • $0.59

    COMP AVG. RENT PER SQFT
Comps Range
$2,499
1$2,4992$2,5503$2,5504$2,6405$2,650
$2,650
RENT COMPS ANALYSIS
  • 7715 Wishing Pond Avenue Las Vegas, NV 4
    • 5 beds 4 baths ∙ 4,501 Sqft ∙ Built 2006 5 beds 4 baths ∙ 4,501 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,640
    • $0.59
    •  
  • 9516 Trattoria Las Vegas, NV 1
    • 4 beds 4 baths ∙ 4,391 Sqft ∙ Built 2006 4 beds 4 baths ∙ 4,391 Sqft ∙ Built 2006
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,499
    • $0.57
    •  
  • 8185 Pavarotti Avenue #n/a Las Vegas, NV 2
    • 5 beds 3 baths ∙ 4,449 Sqft ∙ Built 2006 5 beds 3 baths ∙ 4,449 Sqft ∙ Built 2006
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.57
    •  
  • 8069 Luna Sera Avenue Las Vegas, NV 3
    • 5 beds 4 baths ∙ 4,391 Sqft ∙ Built 2006 5 beds 4 baths ∙ 4,391 Sqft ∙ Built 2006
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.58
    •  
  • 9027 Greek Palace Avenue Las Vegas, NV 5
    • 5 beds 5 baths ∙ 4,264 Sqft ∙ Built 2007 5 beds 5 baths ∙ 4,264 Sqft ∙ Built 2007
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.62
    •  
PROPERTY LISTING DETAILS
Carmen E Dingeanu
1.702.505.1331
General Realty Group Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2253804
Last Updated: 12/05/2020
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