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7729 Rockfield Drive Las Vegas, NV 89128

2 Beds 2 Baths 1,134 sqft Built 1994

$275,000

List Price

$1,150

$1K - $1.3K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1994
  • Price/Sqft : $242.50
  • 16 Days on Market
  • MLS # : 2241046
  • Updated Date : 10/25/2020 at 11:37
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,134 sqft
  • Baths : 2 full
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

COZY 1 STORY HOME IN CONVENIENT SUMMERLIN LOCATION * EAT IN KITCHEN* 2 BEDROOMS WITH SEPARATE DEN* DEN HAS A CLOSET AND CAN EASILY BE CONVERTED TO A 3RD BEDROOM*ALL APPLIANCES ARE INCLUDED.*TILE FLOORS IN KITCHEN * WOOD LAMINATE FLOORING IN LIVING AREA AND DEN* GAS FIREPLACE IN LIVING ROOM*CEILING FANS*SEPARATE LAUNDRY ROOM*POTSHELVES*2 CAR GARAGE*NICE BACK YARD WITH A COVERED PATIO*

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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: The Pueblo

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k316k

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

Neighborhood: The Pueblo

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10761921

* 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
Richard H Bryan Elementary School Primary Regular 617 32 8
Ernest Becker Middle School Middle Regular 1,392 56 NA
Cimarron Memorial High School High Regular 2,541 102 3

Richard H Bryan Elementary School

  • Education Level: Primary
  • # of students: 617
  • # of teachers: 32
8
GreatSchools Rating

Ernest Becker Middle School

  • Education Level: Middle
  • # of students: 1,392
  • # of teachers: 56
NA
GreatSchools Rating

Cimarron Memorial High School

  • Education Level: High
  • # of students: 2,541
  • # of teachers: 102
3
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,035$1,265$1,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,150
EXPENSES Loan Payment -$1,015
Property Tax -$168
Property Insurance -$49
HOA -$50
Property Management Fees -$119
CASH FLOW
-$251

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.

$275,000

PROJECTED PRICE

$1,150

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$3,230

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,150

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,143

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,050
1$1,0502$1,1503$1,2004$1,2255$1,245
$1,245
RENT COMPS ANALYSIS
  • 7729 Rockfield Drive Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,134 Sqft ∙ Built 1994 2 beds 2 baths ∙ 1,134 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $1.01
    •  
  • 7704 Himalayas Avenue #201 Las Vegas, NV 1
    • 2 beds 2 baths ∙ 1,074 Sqft ∙ Built 1996 2 beds 2 baths ∙ 1,074 Sqft ∙ Built 1996
    property image
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.98
    •  
  • 7717 Himalayas Avenue #102 Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,204 Sqft ∙ Built 1996 2 beds 2 baths ∙ 1,204 Sqft ∙ Built 1996
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.00
    •  
  • 7716 Constanso Avenue #203 Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,204 Sqft ∙ Built 1996 2 beds 2 baths ∙ 1,204 Sqft ∙ Built 1996
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $1.02
    •  
  • 7624 Pacific Hills Avenue #104 Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,204 Sqft ∙ Built 1996 2 beds 2 baths ∙ 1,204 Sqft ∙ Built 1996
    property image
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,245
    • $1.03
    •  
PROPERTY LISTING DETAILS
Gail Kelly
1.702.493.2014
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2241046
Last Updated: 10/25/2020
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