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7846 Cliffs Edge Circle Las Vegas, NV 89123

3 Beds 2 Baths 1,596 sqft Built 1994

$344,900

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $216.10
  • 5 Days on Market
  • MLS # : 2272548
  • Updated Date : 02/27/2021 at 00:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,596 sqft
  • Baths : 2 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Not a thing to do in this impeccably maintained single story home nestled in a tranquil cul-de-sac except unpack! Just minutes from everything – airport, The Strip, Allegiant Stadium, shopping and freeways. This 3 bedroom, 2 full bath home boasts vaulted ceilings in the formal living area and in the master bedroom and features a separate family area as well. Nice entertaining flow so family and company can chat while you meal prep. Light pours in from all the windows with new 2” wood blinds. New carpet in all areas. Oversized owner's ensuite with back yard access. The huge lot is your blank canvas for all your hobbies, toys and interests. Two patio areas for relaxing and hanging with friends and family. Room for the “man cave” in the 3 car garage and with NO HOA you can do whatever you wish. Side yard on the north side can be adapted for RV parking and gate access so go shopping for that boat or RV!

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: 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
 

$310,410$379,390$344,900

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$1,198
Property Tax -$197
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
-$53

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.

$344,900

PROJECTED PRICE

$1,520

PROJECTED RENT

0.44%

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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,149

INVESTMENT

$97,149

Down Payment
$86,225
Rehab Estimate
$5,750
Closing Costs
$5,174

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,198

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,225
Loan Amount $258,675
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$18,222

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,552

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,520
1$1,5202$1,5503$1,6004$1,6505$1,700
$1,700
RENT COMPS ANALYSIS
  • 7846 Cliffs Edge Circle Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.95
    •  
  • 629 Palmwood Lane #0 Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,654 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,654 Sqft ∙ Built 1990
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.94
    •  
  • 664 Palmwood Lane Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,718 Sqft ∙ Built 1993 4 beds 3 baths ∙ 1,718 Sqft ∙ Built 1993
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.93
    •  
  • 715 Seclusion Glen Avenue Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 1994
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
  • 635 Palmwood Lane Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,718 Sqft ∙ Built 1990 4 beds 3 baths ∙ 1,718 Sqft ∙ Built 1990
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.99
    •  
PROPERTY LISTING DETAILS
Dianne M Simmons
1.702.349.9656
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2272548
Last Updated: 02/27/2021
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