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7723 Sugarloaf Peak Street Las Vegas, NV 89166

3 Beds 2 Baths 1,975 sqft Built 2011

$365,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2011
  • Price/Sqft : $184.81
  • 6 Days on Market
  • MLS # : 2246223
  • Updated Date : 11/05/2020 at 20:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,975 sqft
  • Baths : 2 full
Listing Agent

Ornelas Real Estate

Listing Agent's Description

Beautiful single story 3 bed/2 bath home located in gated Providence/Northern Terrace HOA (The SID is paid off). The home is freshly painted inside with 20 x 20 tile throughout (no carpet) and plantation shutters on every window. GE stainless steel appliances in the kitchen with granite counter tops, plus the washer/dryer stay with the home. The Primary Bathroom has a large upgraded handicapped friendly shower. Large picturesque backyard has pavers, a patio cover and beautiful landscaping. The Northern Terrace HOA includes a community pool, clubhouse, exercise room, community parks, and 24-hour security.

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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: Cliffs Edge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Cliffs Edge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Henry And Evelyn Bozarth Elementary School Primary Regular 905 40 8
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Arbor View High School High Regular 2,878 116 9

Henry And Evelyn Bozarth Elementary School

  • Education Level: Primary
  • # of students: 905
  • # of teachers: 40
8
GreatSchools Rating

Edmundo Eddie Escobedo Sr Middle School

  • Education Level: Middle
  • # of students: 1,171
  • # of teachers: 47
NA
GreatSchools Rating

Arbor View High School

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

$328,500$401,500$365,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,347
Property Tax -$316
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
-$207

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.

$365,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.9%
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$1.2M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,347

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$10,804

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,743

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,640
1$1,6402$1,6953$1,7004$1,7255$1,860
$1,860
RENT COMPS ANALYSIS
  • 7723 Sugarloaf Peak Street Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,975 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,975 Sqft ∙ Built 2011
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.83
    •  
  • 10273 Headrick Drive Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,913 Sqft ∙ Built 2013 4 beds 2 baths ∙ 1,913 Sqft ∙ Built 2013
    property image
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.89
    •  
  • 7853 Askew Las Vegas, NV 3
    • 4 beds 1 baths ∙ 1,940 Sqft ∙ Built 2009 4 beds 1 baths ∙ 1,940 Sqft ∙ Built 2009
    property image
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.88
    •  
  • 10310 Parkview Mountain Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,016 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,016 Sqft ∙ Built 2013
    property image
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.86
    •  
  • 7644 Storm Peak Street Las Vegas, NV 5
    • 3 beds 2 baths ∙ 2,072 Sqft ∙ Built 2012 3 beds 2 baths ∙ 2,072 Sqft ∙ Built 2012
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.90
    •  
PROPERTY LISTING DETAILS
Adrian P Ornelas
1.702.449.6085
Ornelas Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2246223
Last Updated: 11/05/2020
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