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7894 Spindrift Cove Street Las Vegas, NV 89139

4 Beds 3 Baths 3,129 sqft Built 2001

$490,000

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $156.60
  • 5 Days on Market
  • MLS # : 2248948
  • Updated Date : 11/19/2020 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,129 sqft
  • Baths : 2 full , 1 half
Listing Agent

Executive Realty Services

Listing Agent's Description

Beautiful SOLAR (owned) 4 bedroom Home, with a bonus room, and 3 car garage. Spacious open floor plan. Formal living room with a fireplace, formal dining room, and a separate bar area. Kitchen has granite countertops/backsplash, 42 inch espresso cabinets, and a gas stove. Large family room with a 3 way fireplace. The Master bedroom includes a spacious walk-in closet, and a private on-suite library. The luxurious master bathroom boasts a jetted tub, separate shower, his and her sinks, and also a dual fireplace. The scenic backyard includes a covered patio, large pool, and jacuzzi with a waterfall. New light fixtures, wood laminate flooring, wood shutters, ceiling fan, and solar lights.

SEE MORE

MARKET HIGHLIGHTS

  • 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: Coronado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $119k352k

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

Neighborhood: Coronado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9561622

* 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
Tony Alamo Elementary School Primary Regular 961 51 7
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Sierra Vista High School High Regular 2,396 88 4

Tony Alamo Elementary School

  • Education Level: Primary
  • # of students: 961
  • # of teachers: 51
7
GreatSchools Rating

Lawrence And Heidi Canarelli Middle School

  • Education Level: Middle
  • # of students: 1,802
  • # of teachers: 70
NA
GreatSchools Rating

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

$441,000$539,000$490,000

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$1,808
Property Tax -$335
Property Insurance -$88
Property Management Fees -$119
CASH FLOW
$100

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.

$490,000

PROJECTED PRICE

$2,450

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.3%
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$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

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$135,600

INVESTMENT

$135,600

Down Payment
$122,500
Rehab Estimate
$5,750
Closing Costs
$7,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,808

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $122,500
Loan Amount $367,500
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$49,046

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,652

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,5003$2,7754$2,9005$3,000
$3,000
RENT COMPS ANALYSIS
  • 7894 Spindrift Cove Street Las Vegas, NV 1
    • 4 beds 3 baths ∙ 3,129 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,129 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.78
    •  
  • 7850 Tidal Pool Court Las Vegas, NV 2
    • 5 beds 2 baths ∙ 3,314 Sqft ∙ Built 2002 5 beds 2 baths ∙ 3,314 Sqft ∙ Built 2002
    property image
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.75
    •  
  • 7863 Abalone Bay Street Las Vegas, NV 3
    • 5 beds 3 baths ∙ 3,297 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,297 Sqft ∙ Built 2002
    property image
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,775
    • $0.84
    •  
  • 7869 Salt Spray Court Las Vegas, NV 4
    • 5 beds 3 baths ∙ 3,257 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,257 Sqft ∙ Built 2001
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.89
    •  
  • 7897 Salt Spray Court #0 Las Vegas, NV 5
    • 5 beds 3 baths ∙ 3,314 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,314 Sqft ∙ Built 2001
    property image
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.91
    •  
PROPERTY LISTING DETAILS
Costanza L Marchese
1.702.372.8620
Executive Realty Services
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2248948
Last Updated: 11/19/2020
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