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7908 Clock Tower Court Las Vegas, NV 89117

5 Beds 5 Baths 3,897 sqft Built 1996

$699,999

List Price

$3,590

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $179.63
  • 5 Days on Market
  • MLS # : 2244526
  • Updated Date : 11/04/2020 at 12:48
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,897 sqft
  • Baths : 4 full , 1 half
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Located in a gated community and situated on an almost ¼ acre lot, this home has it all. You enter this amazing home into a very open downstairs with vaulted ceilings and a large formal living and dining room. The large family room boasts a warm and cozy fireplace. Any chef would appreciate the well, appointed island kitchen which has granite counters and full backsplash, plenty of cabinet space, big walk in pantry, nook, double ovens and gas cook top. There is a full bed and bath downstairs. The primary bedroom is upstairs and has a large relaxing bath with a garden tub and large shower plus a huge walk in closet. It is attached to a private office. Home also has newer carpet, plantation shutters throughout, huge laundry room with tons of storage and much more. In the back you have a covered patio and a sparkling Pebbletech pool. Original owners with pride of ownership. This fantastic home is centrally located and minutes from the strip, freeway access and the medical district.

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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: Canyon Gate

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k384k

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

Neighborhood: Canyon Gate

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10762045

* 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
Herbert A. Derfelt Elementary School Primary Regular 699 34 6
Walter Johnson Junior High School Middle Regular 1,102 50 NA
Bonanza High School High Regular 2,003 83 3

Herbert A. Derfelt Elementary School

  • Education Level: Primary
  • # of students: 699
  • # of teachers: 34
6
GreatSchools Rating

Walter Johnson Junior High School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 50
NA
GreatSchools Rating

Bonanza High School

  • Education Level: High
  • # of students: 2,003
  • # of teachers: 83
3
GreatSchools Rating
 

$629,999$769,999$699,999

PURCHASE PRICE

$3,231$3,949$3,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,590
EXPENSES Loan Payment -$2,583
Property Tax -$476
Property Insurance -$103
Property Management Fees -$119
CASH FLOW
$310

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.

$699,999

PROJECTED PRICE

$3,590

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 7.4%
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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530$0.0$10k$20k$30k$40k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$191,250

INVESTMENT

$191,250

Down Payment
$175,000
Rehab Estimate
$5,750
Closing Costs
$10,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$2,583

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $175,000
Loan Amount $524,999
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$89,581

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,590

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $3,916

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$3,400
1$3,4002$3,5903$3,9954$4,0005$4,200
$4,200
RENT COMPS ANALYSIS
  • 7908 Clock Tower Court Las Vegas, NV 2
    • 5 beds 5 baths ∙ 3,897 Sqft ∙ Built 1996 5 beds 5 baths ∙ 3,897 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $3,590
    • $0.92
    •  
  • 1621 Montessouri Street Las Vegas, NV 1
    • 5 beds 4 baths ∙ 3,915 Sqft ∙ Built 1990 5 beds 4 baths ∙ 3,915 Sqft ∙ Built 1990
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $0.87
    •  
  • 7904 Gothic Avenue Las Vegas, NV 3
    • 5 beds 5 baths ∙ 3,859 Sqft ∙ Built 1996 5 beds 5 baths ∙ 3,859 Sqft ∙ Built 1996
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $1.04
    •  
  • 1409 Tumberry Street Las Vegas, NV 4
    • 4 beds 4 baths ∙ 3,848 Sqft ∙ Built 1999 4 beds 4 baths ∙ 3,848 Sqft ∙ Built 1999
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.04
    •  
  • 1701 Charles Lam Las Vegas, NV 5
    • 4 beds 4 baths ∙ 3,923 Sqft ∙ Built 1989 4 beds 4 baths ∙ 3,923 Sqft ∙ Built 1989
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.07
    •  
PROPERTY LISTING DETAILS
Frank Napoli
1.702.405.3080
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244526
Last Updated: 11/04/2020
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