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7744 Silver Wells Road Las Vegas, NV 89149

4 Beds 3 Baths 2,510 sqft Built 1997

$725,000

List Price

$2,750

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $288.84
  • 2 Days on Market
  • MLS # : 2312421
  • Updated Date : 07/13/2021 at 05:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,510 sqft
  • Baths : 2 full , 1 half
Listing Agent

Five Star Real Estate & Proper

Listing Agent's Description

SPECTACULAR ENTERTAINERS HOME AVAILABLE with a 3 car garage +RV parking on the side. Once inside, you will notice the detail & care provided. To the right you will see bedrooms, nicely remodeled bathrooms, with the primary bedroom in the rear. Owners thoughtfully upgraded. Head to the South wing to the kitchen remodel including upgraded appliances, open concept from living room & kitchen out to the large covered patio. Check out the built-in BBQ area, kegerator, & pebbletech flooring. Once out in the sun you can see the pool and spa with the in all of its glory. To the right check out the pool house with interior + exterior showers. Behind the nice pool & spa notice the bushes which blossom yellow flowers. Past the pool house to the right is a grove area with grass, trees (Apricot, Almond, Peach) +grapevines! 1 space in the garage has been modified for storage/work shop space, & can be changed back. Seller to have Lease Back Option for up to 60 days

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Centennial Hills

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
Ruthe Deskin Elementary School Primary Regular 624 36 6
Justice M E Leavitt Middle School Middle Regular 1,496 64 NA
Centennial High School High Regular 3,055 124 6

Ruthe Deskin Elementary School

  • Education Level: Primary
  • # of students: 624
  • # of teachers: 36
6
GreatSchools Rating

Justice M E Leavitt Middle School

  • Education Level: Middle
  • # of students: 1,496
  • # of teachers: 64
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$652,500$797,500$725,000

PURCHASE PRICE

$2,475$3,025$2,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,750
EXPENSES Loan Payment -$2,518
Property Tax -$353
Property Insurance -$76
HOA -$95
Property Management Fees -$119
CASH FLOW
-$411

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.

$725,000

PROJECTED PRICE

$2,750

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.3%
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-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$197,875

INVESTMENT

$197,875

Down Payment
$181,250
Rehab Estimate
$5,750
Closing Costs
$10,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,518

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $181,250
Loan Amount $543,750
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$16,697

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,750

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $2,152

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$1,8993$1,9954$2,2005$2,750
$2,750
RENT COMPS ANALYSIS
  • 7744 Silver Wells Road Las Vegas, NV 5
    • 4 beds 4 baths ∙ 2,510 Sqft ∙ Built 1997 4 beds 4 baths ∙ 2,510 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.10
    •  
  • 5520 Big Sky Lane Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,325 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,325 Sqft ∙ Built 1999
    property image
    LEASED 03/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.81
    •  
  • 5112 Forest Oaks Drive Las Vegas, NV 2
    • 4 beds 4 baths ∙ 2,260 Sqft ∙ Built 1994 4 beds 4 baths ∙ 2,260 Sqft ∙ Built 1994
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,899
    • $0.84
    •  
  • 5208 Coral Glow Court Las Vegas, NV 3
    • 3 beds 2 baths ∙ 2,294 Sqft ∙ Built 1987 3 beds 2 baths ∙ 2,294 Sqft ∙ Built 1987
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.87
    •  
  • 5508 Riverwood Court Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,421 Sqft ∙ Built 1989 4 beds 2 baths ∙ 2,421 Sqft ∙ Built 1989
    property image
    LEASED 07/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.91
    •  
PROPERTY LISTING DETAILS
John Matthew Kammeyer
1.702.289.1625
Five Star Real Estate & Proper
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2312421
Last Updated: 07/13/2021
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