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7820 Calico Flower Avenue Las Vegas, NV 89128

3 Beds 3 Baths 2,067 sqft Built 1994

INVESTimate

$344,000

List Price

$1,560

$1,404 - $1,716

Rent Est.

$374,306  ( +8.81%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $166.42
  • 7 Days on Market
  • MLS # : 2223484
  • Updated Date : 08/20/2020 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,067 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Americana

Listing Agent's Description

WOW! Turn key and PRICE DROP! $166.00 per square foot home in Summerlin! Watch your home appreciate! This well kept 3 bedroom, 3 bath home is nestled in the quiet Summerlin North neighborhood. Beautiful kitchen with island and bursting with tons of natural light from bay windows, plenty of upgraded cabinet space, granite counter tops and all appliances are staying! Large family room with gas fireplace. Formal dining room. Tile floors, custom window shutters!. Backyard is finished with mature landscaping. Close to Summerlin parkway and a short walk to Richard H. Bryan Elementary School. Community features 3 parks w/ pools, playgrounds.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: The Pueblo

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k316k

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

Neighborhood: The Pueblo

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10761921

* 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
Richard H Bryan Elementary School Primary Regular 617 32 8
Ernest Becker Middle School Middle Regular 1,392 56 NA
Cimarron Memorial High School High Regular 2,541 102 3

Richard H Bryan Elementary School

  • Education Level: Primary
  • # of students: 617
  • # of teachers: 32
8
GreatSchools Rating

Ernest Becker Middle School

  • Education Level: Middle
  • # of students: 1,392
  • # of teachers: 56
NA
GreatSchools Rating

Cimarron Memorial High School

  • Education Level: High
  • # of students: 2,541
  • # of teachers: 102
3
GreatSchools Rating
 

$309,600$378,400$344,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,269
Property Tax -$221
Property Insurance -$67
HOA -$50
Property Management Fees -$119
CASH FLOW
-$166

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.

$344,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.81%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$96,910

INVESTMENT

$96,910

Down Payment
$86,000
Rehab Estimate
$5,750
Closing Costs
$5,160

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,269

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,000
Loan Amount $258,000
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$12,175

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,576

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5003$1,5504$1,5605$1,850
$1,850
RENT COMPS ANALYSIS
  • 7820 Calico Flower Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,067 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,067 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.75
    •  
  • 1736 Mexican Poppy Street #n/a Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,067 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,067 Sqft ∙ Built 1994
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.70
    •  
  • 7720 Leavorite Drive Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,878 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,878 Sqft ∙ Built 1989
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.80
    •  
  • 1604 Tamborine Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,155 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,155 Sqft ∙ Built 1997
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.72
    •  
  • 1749 Mexican Poppy Street Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,236 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,236 Sqft ∙ Built 1994
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.83
    •  
PROPERTY LISTING DETAILS
Ross Miller
1.702.610.7655
Century 21 Americana
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223484
Last Updated: 08/20/2020
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