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7763 Arden Grove Street Las Vegas, NV 89113

4 Beds 4 Baths 2,836 sqft Built 2005

$550,000

List Price

$2,210

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $193.94
  • 3 Days on Market
  • MLS # : 2253538
  • Updated Date : 12/05/2020 at 10:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,836 sqft
  • Baths : 3 full , 1 half
Listing Agent

Nevada Real Estate Corp

Listing Agent's Description

SINGLE STORY HOUSE WITH COURTYARD. 3 CAR GARAGES. WOOD FLOORING THROUGHOUT THE HOUSE. HUGE KITCHEN WITH GRANITE COUNTER TOP. CUSTOM CABINETS DOUBLE MASTER WITH 2 OTHER ROOMS.

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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: Nevada Trails

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $119k520k

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

Neighborhood: Nevada Trails

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10762069

* 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
Judi D. Steele Elementary School Primary Regular 858 43 8
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Sierra Vista High School High Regular 2,396 88 4

Judi D. Steele Elementary School

  • Education Level: Primary
  • # of students: 858
  • # of teachers: 43
8
GreatSchools Rating

Lawrence And Heidi Canarelli Middle School

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

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

$495,000$605,000$550,000

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$2,029
Property Tax -$397
Property Insurance -$82
Property Management Fees -$119
CASH FLOW
-$417

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.

$550,000

PROJECTED PRICE

$2,210

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 5.5%
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$1.4M$1.6M

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$10,044

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,210

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,354

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2103$2,2504$2,2905$2,600
$2,600
RENT COMPS ANALYSIS
  • 7763 Arden Grove Street Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,836 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,836 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $0.78
    •  
  • 6708 Starshell Bay Avenue Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,842 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,842 Sqft ∙ Built 2001
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.74
    •  
  • 7726 Golden Peak Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,672 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,672 Sqft ∙ Built 2003
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.84
    •  
  • 6633 Shadow Cove Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,842 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,842 Sqft ∙ Built 2002
    property image
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $0.81
    •  
  • 7158 Barton Creek Court Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,810 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,810 Sqft ∙ Built 2004
    property image
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.93
    •  
PROPERTY LISTING DETAILS
Judith L Sullivan
1.702.368.6883
Nevada Real Estate Corp
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2253538
Last Updated: 12/05/2020
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