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7788 Brook Valley Drive Las Vegas, NV 89123

4 Beds 3 Baths 2,499 sqft Built 1990

$469,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $187.68
  • 7 Days on Market
  • MLS # : 2276857
  • Updated Date : 03/12/2021 at 17:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,499 sqft
  • Baths : 3 full
Listing Agent

Rock Realty Group

Listing Agent's Description

NO HOA FOR THIS ONE, THE POSSIBILITIES ARE ENDLESS! 3 CAR GARAGE HOME WITH 3 BED/3 BATH + DEN & FULL BATHROOM DOWNSTAIRS. DEN COULD BE USED AS A BEDROOM OR A HOME OFFICE/WORKSPACE. OPEN FLOORPLAN WITH HIGH AND VAULTED CEILINGS ALLOWING A GOOD AMOUNT OF NATURAL SUNLIGHT INTO THE HOME. SEPARATE LIVING ROOM, FORMAL DINING AREA, & FAMILY ROOMS, SO MUCH ACTIVITY SPACE FOR YOU AND YOUR FAMILY! PLENTY OF BACKYARD SPACE, WHICH FEATURES A BEAUTIFUL PRIVATE POOL & SPA TO ENJOY AS YOU PLEASE ALL YEAR-ROUND, POTENTIAL FOR GARDENING, & A SMALL COURTYARD AREA. REMODELED KITCHEN WITH REFINISHED CABINETS, GRANITE COUNTERTOPS, & NEWER BLACK STAINLESS STEEL APPLIANCES. NEWER WATER HEATER. FAMILY ROOM WIRED FOR SURROUND SOUND. LAMINATE & TILE FLOORING IN MAJOR TRAFFIC AREAS, NEWER CARPET IN BEDROOMS. POTENTIAL FOR RV PARKING! LOCATED JUST MINUTES AWAY FROM THE LAS VEGAS STRIP, SCHOOLS, SHOPPING, AND COMMUNITY PARKS! A RARE FIND, YOU DON'T WANT TO MISS THIS ONE!

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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: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
Louis Wiener Jr Elementary School Primary Regular 701 39 7
Jack L. Schofield Middle School Middle Regular 1,332 51 NA
Silverado High School High Regular 2,263 94 5

Louis Wiener Jr Elementary School

  • Education Level: Primary
  • # of students: 701
  • # of teachers: 39
7
GreatSchools Rating

Jack L. Schofield Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 51
NA
GreatSchools Rating

Silverado High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
5
GreatSchools Rating
 

$422,100$515,900$469,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,629
Property Tax -$217
Property Insurance -$76
Property Management Fees -$119
CASH FLOW
-$251

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.

$469,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,035

INVESTMENT

$130,035

Down Payment
$117,250
Rehab Estimate
$5,750
Closing Costs
$7,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,629

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $117,250
Loan Amount $351,750
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$12,216

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,912

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,790
1$1,7902$1,7953$1,8504$1,8995$1,995
$1,995
RENT COMPS ANALYSIS
  • 7788 Brook Valley Drive Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,499 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,499 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.72
    •  
  • 772 Cornish Court Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,329 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,329 Sqft ∙ Built 1990
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.77
    •  
  • 7824 Pink Ginger Street Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,405 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,405 Sqft ∙ Built 2000
    LEASED 02/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.77
    •  
  • 1700 Deep Spring Avenue Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,426 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,426 Sqft ∙ Built 1997
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,899
    • $0.78
    •  
  • 1434 Shelbourne Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,686 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,686 Sqft ∙ Built 2006
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.74
    •  
PROPERTY LISTING DETAILS
Vancely D Lucido
1.702.758.4828
Rock Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2276857
Last Updated: 03/12/2021
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