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7769 Tim Tam Avenue Las Vegas, NV 89178

3 Beds 2 Baths 2,973 sqft Built 2013

$625,000

List Price

$2,570

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $210.23
  • 10 Days on Market
  • MLS # : 2258629
  • Updated Date : 01/08/2021 at 16:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,973 sqft
  • Baths : 1 full , 1 half
Listing Agent

Iproperties International

Listing Agent's Description

Stunning Mountains Edge Single Story! An entertainers dream~Relax in the pool or spa while listening to the soothing waterfall~Covered patio with fans~BI-BBQ with refrigerator~Open spacious floor plan with high ceiling, build in cabinets in living room, custom drapes, blinds throughout, fans in all bedrooms & den~Kitchen features gorgeous granite & backsplash to flow with the stainless steel appliances, convection oven, 5 burner cooktop, upgraded hardware, large island, cabinets galore & WI-pantry~Oversized master with 16x15 WI-closet~Low-E windows, fans, curtains, so much more

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: 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
Carolyn Reedom Elementary School Primary Regular 1,097 58 6
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Carolyn Reedom Elementary School

  • Education Level: Primary
  • # of students: 1,097
  • # of teachers: 58
6
GreatSchools Rating

Lois And Jerry Tarkanian Middle School

  • Education Level: Middle
  • # of students: 1,739
  • # of teachers: 71
NA
GreatSchools Rating

Desert Oasis High School

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

$562,500$687,500$625,000

PURCHASE PRICE

$2,313$2,827$2,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,570
EXPENSES Loan Payment -$2,171
Property Tax -$449
Property Insurance -$85
Property Management Fees -$119
CASH FLOW
-$253

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.

$625,000

PROJECTED PRICE

$2,570

PROJECTED RENT

0.41%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$171,375

INVESTMENT

$171,375

Down Payment
$156,250
Rehab Estimate
$5,750
Closing Costs
$9,375

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 $156,250
Loan Amount $468,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$20,477

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,570

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,133

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,1003$2,1004$2,1335$2,570
$2,570
RENT COMPS ANALYSIS
  • 7769 Tim Tam Avenue Las Vegas, NV 5
    • 3 beds 2 baths ∙ 2,973 Sqft ∙ Built 2013 3 beds 2 baths ∙ 2,973 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,570
    • $0.86
    •  
  • 9819 High Alpine Street Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,851 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,851 Sqft ∙ Built 2008
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.68
    •  
  • 7743 Windy Meadow Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 3,145 Sqft ∙ Built 2006 3 beds 3 baths ∙ 3,145 Sqft ∙ Built 2006
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.67
    •  
  • 7727 Windy Meadow Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,705 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,705 Sqft ∙ Built 2006
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.78
    •  
  • 7574 Engleberg Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,865 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,865 Sqft ∙ Built 2010
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,133
    • $0.74
    •  
PROPERTY LISTING DETAILS
Amber M Diskin
1.702.769.0774
Iproperties International
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2258629
Last Updated: 01/08/2021
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