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PROPERTY INFO
FACTS
- Single Family
- Built In 1998
- Price/Sqft : $167.17
- 11 Days on Market
- MLS # : 2256461
- Updated Date : 12/23/2020 at 17:00
CONSTRUCTION
- Beds : 3
- Floor Size : 2,004 sqft
- Baths : 2 full , 1 half
Listing Agent
Rx Realty
Listing Agent's Description
Beautiful Home with amazing layout. Property features 3 spacious bedrooms, large yards, and conveniently located near highways and shopping. Upon entering, you find yourself in a bright and spacious living room with dramatic-vaulted ceilings, a warm fireplace, and an open stairway. In the rear, you will find the formal dining area, leading the kitchen, and cozy family room. Just around the corner: a separate laundry room to the left, and powder room on the right; just before you enter finished 2 car garage. Upstairs boasts the master suite with 2 separate entrance into the large walk-in closet; and 2 spacious bedrooms: all with beautiful wood-like floors. Backyard has a large covered patio area and plenty of space for your personal touches.
SEE MORE
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Northern Lights at Elkhorn Springs
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Northern Lights at Elkhorn Springs
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,510 |
| EXPENSES | Loan Payment | -$1,236 |
| Property Tax | -$226 | |
| Property Insurance | -$66 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$137
|
||
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.
$335,000
PROJECTED PRICE
$1,510
PROJECTED RENT
0.45%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$94,525
LOAN DETAILS
$1,236
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $83,750 |
| Loan Amount | $251,250 |
3.92
YEARS SAVED
$14,105
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,510
LIST RENT -
$0.75
LIST RENT PER SQFT
-
$1,508
COMP ESTIMATED VALUE -
$0.75
COMP AVG. RENT PER SQFT
Comps Range
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7825 Robinglen Avenue Las Vegas, NV 4
- 3 beds 3 baths ∙ 2,004 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,004 Sqft ∙ Built 1998
![property image]()
- Rent
- Rent Per SQFT
- $1,510
- $0.75
-
7309 Eaglegate Las Vegas, NV 1
- 3 beds 2 baths ∙ 2,004 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,004 Sqft ∙ Built 1998
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LEASED 03/21/20- Rent
- Rent Per SQFT
- $1,425
- $0.71
-
7209 Golden Falcon Street Las Vegas, NV 2
- 3 beds 3 baths ∙ 1,928 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,928 Sqft ∙ Built 1998
![property image]()
LEASED 08/31/20- Rent
- Rent Per SQFT
- $1,495
- $0.78
-
7217 Tealwood Las Vegas, NV 3
- 3 beds 2 baths ∙ 1,928 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,928 Sqft ∙ Built 2000
![property image]()
LEASED 06/30/20- Rent
- Rent Per SQFT
- $1,500
- $0.78
-
7212 Eaglegate Street Las Vegas, NV 5
- 3 beds 3 baths ∙ 2,158 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,158 Sqft ∙ Built 1999
![property image]()
LEASED 04/30/20- Rent
- Rent Per SQFT
- $1,600
- $0.74
PROPERTY LISTING DETAILS
1.702.339.1068
Rx Realty
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2256461
Last Updated: 12/23/2020
