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7817 Orchard Port Avenue Las Vegas, NV 89131

3 Beds 2 Baths 1,891 sqft Built 2003

$400,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $211.53
  • 6 Days on Market
  • MLS # : 2270213
  • Updated Date : 02/20/2021 at 20:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,891 sqft
  • Baths : 2 full
Listing Agent

Century 21 Americana

Listing Agent's Description

Amazing 1 story home in a gated community. Great location. Close to parks, schools, and shopping centers. The house features 4 bedroom, 3 car garage, open floor plan, covered patio, pool with heated jacuzzi and fountain, front yard porch, spacious bedrooms with ceiling fans in every room, laminated wood floor and much more. The community features basketball court, parks, and playgrounds. Appliances will stay and water softener. This home will not last.

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: Lamplight Manor at Iron Mountain Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $119k475k

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

Neighborhood: Lamplight Manor at Iron Mountain Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10762052

* 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
Howard Heckethorn Elementary School Primary Regular 657 35 7
Anthony Saville Middle School Middle Regular 1,494 58 NA
Shadow Ridge High School High Regular 2,697 105 6

Howard Heckethorn Elementary School

  • Education Level: Primary
  • # of students: 657
  • # of teachers: 35
7
GreatSchools Rating

Anthony Saville Middle School

  • Education Level: Middle
  • # of students: 1,494
  • # of teachers: 58
NA
GreatSchools Rating

Shadow Ridge High School

  • Education Level: High
  • # of students: 2,697
  • # of teachers: 105
6
GreatSchools Rating
 

$360,000$440,000$400,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,389
Property Tax -$318
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
-$130

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.

$400,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.44%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$15,378

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,584

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5503$1,5504$1,7005$1,760
$1,760
RENT COMPS ANALYSIS
  • 7817 Orchard Port Avenue Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,891 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,891 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.93
    •  
  • 5013 Charlo Drive #0 Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 2002
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.83
    •  
  • 4948 Naff Ridge Drive Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 2003
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.86
    •  
  • 5223 Morning Splash Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,879 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,879 Sqft ∙ Built 2001
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.82
    •  
  • 5041 Rustic Charm Court #0 Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,024 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,024 Sqft ∙ Built 2002
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.84
    •  
PROPERTY LISTING DETAILS
Antonio Medina
1.702.686.9595
Century 21 Americana
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2270213
Last Updated: 02/20/2021
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