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7750 Palmyra Avenue Las Vegas, NV 89117

4 Beds 2 Baths 3,137 sqft Built 1986

$624,900

List Price

$2,430

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $199.20
  • 3 Days on Market
  • MLS # : 2269932
  • Updated Date : 02/13/2021 at 10:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,137 sqft
  • Baths : 2 full
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

GREAT SINGLE STORY ON A HALF ACRE IN SECTION 10. THIS HOME FEATURES BRICK FACADES AND FIREPLACES AND HAS A LARGE BACK YARD WITH FRUIT TREES. THE 4 CAR GARAGE SITS ADJACENT TO ADDITIONAL PARKING FOR YOUR RV OR BOAT. THE LARGE KITCHEN BOASTS A HUGE WALKIN PANTRY AND A LARGE ISLAND. THE HOME HAS PLANTATION SHUTTERS THROUGHOUT AND SOLID WOOD DOORS WITH VAULTED CEILINGS. SHE'S A CLASSIC AND NEEDS AN OWNER WILLING TO BRING HER UP TO DATE!

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: The Lakes-Country Club

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k368k

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

Neighborhood: The Lakes-Country Club

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10763020

* 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
R. Guild Gray Elementary School Primary Regular 521 24 5
Lawrence Junior High School Middle Regular 1,421 61 NA
Spring Valley High School High Regular 1,925 79 4

R. Guild Gray Elementary School

  • Education Level: Primary
  • # of students: 521
  • # of teachers: 24
5
GreatSchools Rating

Lawrence Junior High School

  • Education Level: Middle
  • # of students: 1,421
  • # of teachers: 61
NA
GreatSchools Rating

Spring Valley High School

  • Education Level: High
  • # of students: 1,925
  • # of teachers: 79
4
GreatSchools Rating
 

$562,410$687,390$624,900

PURCHASE PRICE

$2,187$2,673$2,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,430
EXPENSES Loan Payment -$2,171
Property Tax -$403
Property Insurance -$88
Property Management Fees -$119
CASH FLOW
-$351

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.

$624,900

PROJECTED PRICE

$2,430

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.5%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$171,349

INVESTMENT

$171,349

Down Payment
$156,225
Rehab Estimate
$5,750
Closing Costs
$9,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,171

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $156,225
Loan Amount $468,675
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$13,810

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,430

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,423

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,185
1$2,1852$2,2003$2,4304$2,6005$2,950
$2,950
RENT COMPS ANALYSIS
  • 7750 Palmyra Avenue Las Vegas, NV 3
    • 4 beds 2 baths ∙ 3,137 Sqft ∙ Built 1986 4 beds 2 baths ∙ 3,137 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $0.77
    •  
  • 8162 Delphi Court Las Vegas, NV 1
    • 5 beds 2 baths ∙ 3,260 Sqft ∙ Built 2000 5 beds 2 baths ∙ 3,260 Sqft ∙ Built 2000
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,185
    • $0.67
    •  
  • 8075 Lapis Harbor Avenue #n/a Las Vegas, NV 2
    • 4 beds 2 baths ∙ 3,260 Sqft ∙ Built 2000 4 beds 2 baths ∙ 3,260 Sqft ∙ Built 2000
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.67
    •  
  • 2960 Reiger Court Las Vegas, NV 4
    • 3 beds 1 baths ∙ 3,037 Sqft ∙ Built 1984 3 beds 1 baths ∙ 3,037 Sqft ∙ Built 1984
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.86
    •  
  • 7755 Coley Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 3,305 Sqft ∙ Built 1988 4 beds 3 baths ∙ 3,305 Sqft ∙ Built 1988
    LEASED 02/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.89
    •  
PROPERTY LISTING DETAILS
Harvey Blankfeld
1.702.203.1165
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2269932
Last Updated: 02/13/2021
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