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7746 Harp Tree Street Las Vegas, NV 89139

4 Beds 3 Baths 2,021 sqft Built 2004

$335,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $165.76
  • 8 Days on Market
  • MLS # : 2256275
  • Updated Date : 12/19/2020 at 18:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,021 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Gorgeous remodeled 2 story home in SW area. Seller spent over 20K to remodel (whole house paint, tile, carpet, blinds, kitchen countertop and more) at the end of 2019. 4 bedrooms and 2.5 bathrooms with 2 car garages. House comes with formal living room, dining room, and family room. Separate laundry room downstairs. Kitchen with granite countertop, island, pantry and stainless steel appliances. Tile in all wet areas. All rooms come with ceiling fan/ light. Big and bright master bedroom is with walk in closet. Separate tub and shower and double sinks in master bathroom. Patio available in the backyard. Long drive way is good for guest parking and is a play area for kids. Close to shopping and I 215. MOVE IN READY CONDITION..

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: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
Mark L. Fine Elementary School Primary Regular 1,001 51 6
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Desert Oasis High School High Regular 2,417 102 5

Mark L. Fine Elementary School

  • Education Level: Primary
  • # of students: 1,001
  • # of teachers: 51
6
GreatSchools Rating

Lawrence And Heidi Canarelli Middle School

  • Education Level: Middle
  • # of students: 1,802
  • # of teachers: 70
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,236
Property Tax -$220
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
-$91

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.

$335,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.8%
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$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$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$18,428

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,627

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,6004$1,6005$1,750
$1,750
RENT COMPS ANALYSIS
  • 7746 Harp Tree Street Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,021 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,021 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.77
    •  
  • 7881 Harp Tree Street Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,021 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,021 Sqft ∙ Built 2004
    property image
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.79
    •  
  • 5890 Willow Trace Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,054 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,054 Sqft ∙ Built 2003
    property image
    LEASED 01/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.78
    •  
  • 7809 Somerhill Point Way Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,054 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,054 Sqft ∙ Built 2004
    property image
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.78
    •  
  • 7616 Ribbon Garland Court Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,001 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,001 Sqft ∙ Built 2006
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.87
    •  
PROPERTY LISTING DETAILS
Sherry Hsiao
1.702.287.8680
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2256275
Last Updated: 12/19/2020
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