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7905 Grey Teal Street North Las Vegas, NV 89084

2 Beds 1 Baths 1,157 sqft Built 2004

$307,000

List Price

$1,150

$1K - $1.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $265.34
  • 3 Days on Market
  • MLS # : 2278190
  • Updated Date : 03/13/2021 at 23:32
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,157 sqft
  • Baths : 1 full
Listing Agent

Cline Realty

Listing Agent's Description

Enjoy the wonderful lifestyle in Sun City Aliante 55+ community with lots of amenities. Check out this immaculate home situated on a corner home site, featuring beautiful plank vinyl floors in the great room, master bedroom and bath and spacious kitchen with breakfast nook, upgraded white cabinets with pull out shelves, granite counters that accent the designer paint, ceramic tile floors and all new stainless appliances in 2019. Master bedroom boasts a walk in closet, master bath with new paint, double sinks and step in shower. Freshly painted second bedroom and bath and new carpet recently installed in second bedroom. This gorgeous home is move in ready and comes complete with furniture, all appliances, ceiling fans, covered patio, storage cabinets in garage, updated exterior paint, and sunny front courtyard.

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: Sun City Aliante

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $110k308k

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

Neighborhood: Sun City Aliante

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9671606

* 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
Vincent L. Triggs Elementary School Primary Regular 761 40 7
Brian And Teri Cram Middle School Middle Regular 1,568 65 NA
Shadow Ridge High School High Regular 2,697 105 6

Vincent L. Triggs Elementary School

  • Education Level: Primary
  • # of students: 761
  • # of teachers: 40
7
GreatSchools Rating

Brian And Teri Cram Middle School

  • Education Level: Middle
  • # of students: 1,568
  • # of teachers: 65
NA
GreatSchools Rating

Shadow Ridge High School

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

$276,300$337,700$307,000

PURCHASE PRICE

$1,035$1,265$1,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,150
EXPENSES Loan Payment -$1,066
Property Tax -$201
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
-$286

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.

$307,000

PROJECTED PRICE

$1,150

PROJECTED RENT

0.37%

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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,105

INVESTMENT

$87,105

Down Payment
$76,750
Rehab Estimate
$5,750
Closing Costs
$4,605

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,066

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,750
Loan Amount $230,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$2,348

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,150

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,041

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,1503$1,2004$1,250
$1,250
RENT COMPS ANALYSIS
  • 7905 Grey Teal Street North Las Vegas, NV 2
    • 2 beds 1 baths ∙ 1,157 Sqft ∙ Built 2004 2 beds 1 baths ∙ 1,157 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.99
    •  
  • 2109 Bay Thrush Way North Las Vegas, NV 1
    • 2 beds 2 baths ∙ 1,157 Sqft ∙ Built 2005 2 beds 2 baths ∙ 1,157 Sqft ∙ Built 2005
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.86
    •  
  • 3508 Hazelnut Pine Place #2 North Las Vegas, NV 3
    • 2 beds 3 baths ∙ 1,332 Sqft ∙ Built 2004 2 beds 3 baths ∙ 1,332 Sqft ∙ Built 2004
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.90
    •  
  • 6748 Lavender Lilly Lane #2 North Las Vegas, NV 4
    • 2 beds 3 baths ∙ 1,332 Sqft ∙ Built 2005 2 beds 3 baths ∙ 1,332 Sqft ∙ Built 2005
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.94
    •  
PROPERTY LISTING DETAILS
R Darlene Cline
1.702.306.2508
Cline Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2278190
Last Updated: 03/13/2021
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