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7816 Red Leaf Drive Las Vegas, NV 89131

3 Beds 3 Baths 3,375 sqft Built 2003

$495,000

List Price

$2,320

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $146.67
  • 5 Days on Market
  • MLS # : 2243544
  • Updated Date : 10/30/2020 at 10:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,375 sqft
  • Baths : 3 full
Listing Agent

Re/max Central

Listing Agent's Description

Hurry to this stunning & beautiful Pool Home in NW Las Vegas. This home offers an elegant and open 3,375 sq ft floor plan complete with living room, dinning room, separate family room, large open kitchen with island, Den and Loft that buyer can be 4th & 5th Bedrooms, large 3 car garage, 4 full bathrooms, & private pool and spa! The primary bedroom is large and includes a full siting area perfect for a couch and TV or work out equipment! The primary bathroom is large with a cornered tub, sand shower. Amenities include rich cherry wood cabinets, iron rails, new carpet, recessed lighting, ceiling fans, solar screens, den with windows, raised & vaulted ceilings, large rooms, gated community, community park with play area, and much more.

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: San Marino Circle

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $119k494k

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

Neighborhood: San Marino Circle

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10762243

* 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
Thomas O'roarke Elementary School Primary Regular 817 42 9
Ralph Cadwallader Middle School Middle Regular 1,480 63 NA
Arbor View High School High Regular 2,878 116 9

Thomas O'roarke Elementary School

  • Education Level: Primary
  • # of students: 817
  • # of teachers: 42
9
GreatSchools Rating

Ralph Cadwallader Middle School

  • Education Level: Middle
  • # of students: 1,480
  • # of teachers: 63
NA
GreatSchools Rating

Arbor View High School

  • Education Level: High
  • # of students: 2,878
  • # of teachers: 116
9
GreatSchools Rating
 

$445,500$544,500$495,000

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$1,826
Property Tax -$418
Property Insurance -$93
Property Management Fees -$119
CASH FLOW
-$136

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.

$495,000

PROJECTED PRICE

$2,320

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.5%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$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$136,925

INVESTMENT

$136,925

Down Payment
$123,750
Rehab Estimate
$5,750
Closing Costs
$7,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,826

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $123,750
Loan Amount $371,250
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$25,565

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,228

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1003$2,2404$2,3205$2,395
$2,395
RENT COMPS ANALYSIS
  • 7816 Red Leaf Drive Las Vegas, NV 4
    • 3 beds 3 baths ∙ 3,375 Sqft ∙ Built 2003 3 beds 3 baths ∙ 3,375 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $0.69
    •  
  • 8155 Deer Clan Court Las Vegas, NV 1
    • 4 beds 4 baths ∙ 3,330 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,330 Sqft ∙ Built 2001
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.60
    •  
  • 8305 Chapelle Court Las Vegas, NV 2
    • 4 beds 4 baths ∙ 3,063 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,063 Sqft ∙ Built 2004
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.69
    •  
  • 7816 Brookfield Cove Avenue Las Vegas, NV 3
    • 4 beds 3 baths ∙ 3,574 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,574 Sqft ∙ Built 2003
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $0.63
    •  
  • 8159 Owl Clan Court Las Vegas, NV 5
    • 3 beds 4 baths ∙ 3,330 Sqft ∙ Built 2001 3 beds 4 baths ∙ 3,330 Sqft ∙ Built 2001
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.72
    •  
PROPERTY LISTING DETAILS
Stuart Merida
1.702.308.8888
Re/max Central
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243544
Last Updated: 10/30/2020
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