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7738 Fortress Peak Court Las Vegas, NV 89166

5 Beds 3 Baths 2,631 sqft Built 2010

INVESTimate

$415,000

List Price

$2,040

$1,836 - $2,244

Rent Est.

$447,827  ( +7.91%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2010
  • Price/Sqft : $157.73
  • 9 Days on Market
  • MLS # : 2222865
  • Updated Date : 08/22/2020 at 09:33
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,631 sqft
  • Baths : 3 full
Listing Agent

Nexthome People First

Listing Agent's Description

This five-bedroom home is located in a beautiful gated neighborhood within the Providence community. In addition to the five bedrooms, you will enjoy two downstairs living areas, an over-sized upstairs loft, a separate dining room, a kitchen complete with granite counters, and stainless appliances and islands. The backyard features a covered patio and easy to maintain turf. Hurry, this home will not last.

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: 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
Kenneth Divich Elementary Primary Unknown NA
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Arbor View High School High Regular 2,878 116 9

Kenneth Divich Elementary

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
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
 

$373,500$456,500$415,000

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

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-$5.0k$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,531
Property Tax -$333
Property Insurance -$78
HOA -$38
Property Management Fees -$119
CASH FLOW
-$59

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.

$415,000

PROJECTED PRICE

$2,040

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.91%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$26,299

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,302

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,040
1$2,0402$2,1003$2,1504$2,3005$2,599
$2,599
RENT COMPS ANALYSIS
  • 7738 Fortress Peak Court Las Vegas, NV 1
    • 5 beds 3 baths ∙ 2,631 Sqft ∙ Built 2010 5 beds 3 baths ∙ 2,631 Sqft ∙ Built 2010
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.78
    •  
  • 10548 Laurel Mountain Lane Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,516 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,516 Sqft ∙ Built 2017
    property image
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.83
    •  
  • 10520 Sparks Summit Lane Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,515 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,515 Sqft ∙ Built 2017
    property image
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.85
    •  
  • 7904 Airola Peak Street Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,559 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,559 Sqft ∙ Built 2007
    property image
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.90
    •  
  • 10208 Bristol Peak Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,813 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,813 Sqft ∙ Built 2010
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,599
    • $0.92
    •  
PROPERTY LISTING DETAILS
Beau A Mcdougall
1.702.595.1949
Nexthome People First
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222865
Last Updated: 08/22/2020
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