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7760 Needlepoint Court Las Vegas, NV 89149

4 Beds 3 Baths 1,827 sqft Built 2015

$320,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $175.15
  • 6 Days on Market
  • MLS # : 2272256
  • Updated Date : 02/26/2021 at 22:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,827 sqft
  • Baths : 2 full , 1 half
Listing Agent

Life Realty District

Listing Agent's Description

Terrific 2 story in a Great NW community. Come check out this awesome home. Community Pool. You will be amazed.

SEE MORE

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: 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
Sandra L. Thompson Elementary School Primary Regular 798 39 8
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Arbor View High School High Regular 2,878 116 9

Sandra L. Thompson Elementary School

  • Education Level: Primary
  • # of students: 798
  • # of teachers: 39
8
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
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$1,111
Property Tax -$246
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
$41

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.

$320,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.49%

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$24,352

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,690

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5803$1,6504$1,7255$1,900
$1,900
RENT COMPS ANALYSIS
  • 7760 Needlepoint Court Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,827 Sqft ∙ Built 2015 4 beds 3 baths ∙ 1,827 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.86
    •  
  • 7752 Broadloom Court Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,698 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,698 Sqft ∙ Built 2014
    property image
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.88
    •  
  • 7649 Breed Hill Street Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,723 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,723 Sqft ∙ Built 2004
    property image
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.96
    •  
  • 9033 Cross Stitch Court Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,871 Sqft ∙ Built 2015 4 beds 3 baths ∙ 1,871 Sqft ∙ Built 2015
    property image
    LEASED 02/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.92
    •  
  • 9126 Sea Mink Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,022 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,022 Sqft ∙ Built 2016
    property image
    LEASED 02/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.94
    •  
PROPERTY LISTING DETAILS
Jacob Mitro
1.702.285.3444
Life Realty District
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2272256
Last Updated: 02/26/2021
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