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7729 Blue Meadow Avenue Las Vegas, NV 89178

3 Beds 3 Baths 2,495 sqft Built 2006

$405,999

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $162.73
  • 5 Days on Market
  • MLS # : 2269339
  • Updated Date : 02/12/2021 at 01:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,495 sqft
  • Baths : 3 full
Listing Agent

Barrett & Co, Inc

Listing Agent's Description

Welcome Home to this Amazing Move In Ready Home in one of Las Vegas' Consistently Ranked Best Selling Communities Mountains Edge! This 2 story home Located in a Gated Community with roving Security. Primary Bedroom & 2nd Bedroom & 2 Full Bathrooms Downstairs! 3rd Bedroom~3rd Full Bathroom & Huge Loft/4th Bedroom with 2 closets upstairs! New Carpet Downstairs & on Stairs! Community Features Clubhouse with Pool & Spa! Mountains Edge consists of an entire network of existing and planned schools, neighborhood shops, restaurants, offices with Hundreds of Acres Devoted for Trail Systems & Parks!Just down the street from the Famous Exploration Peak Park with Awesome views of Las Vegas! Bicycle trails and walking paths lead up to several vantage points along the top of the peak. The park includes picnic areas, playgrounds, water play area, trails, replicas of western towns and villages, archaeology dig site, outdoor amphitheater and much more. This Home is Ready to move into Today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

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
 

$365,399$446,599$405,999

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,410
Property Tax -$290
Property Insurance -$76
Property Management Fees -$119
CASH FLOW
$5

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.

$405,999

PROJECTED PRICE

$1,900

PROJECTED RENT

0.47%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

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$113,340

INVESTMENT

$113,340

Down Payment
$101,500
Rehab Estimate
$5,750
Closing Costs
$6,090

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,410

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $101,500
Loan Amount $304,499
See What Happens When You Reinvest Cash Flow

5.83

YEARS SAVED

$26,864

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,927

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,9003$1,9004$1,9005$1,970
$1,970
RENT COMPS ANALYSIS
  • 7729 Blue Meadow Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,495 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,495 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.76
    •  
  • 7848 Carysford Avenue Las Vegas, NV 1
    • 3 beds 4 baths ∙ 2,366 Sqft ∙ Built 2007 3 beds 4 baths ∙ 2,366 Sqft ∙ Built 2007
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.74
    •  
  • 7227 Childers Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 2007
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.76
    •  
  • 7480 Pepperbox Avenue Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,428 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,428 Sqft ∙ Built 2010
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.78
    •  
  • 10609 Soaring Palm Street Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,435 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,435 Sqft ∙ Built 2007
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.81
    •  
PROPERTY LISTING DETAILS
Lisa L Hogsette
1.702.283.2224
Barrett & Co, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2269339
Last Updated: 02/12/2021
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