Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

7908 Morning Queen Drive Las Vegas, NV 89178

5 Beds 4 Baths 3,399 sqft Built 2007

$549,000

List Price

$2,680

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

February 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $161.52
  • 5 Days on Market
  • MLS # : 2265987
  • Updated Date : 02/05/2021 at 21:14
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,399 sqft
  • Baths : 4 full
Listing Agent

Platinum R.e. Professionals

Listing Agent's Description

Open Floor plan with vaulted ceilings! Brand new flooring throughout the entire home! Brand new carpet in upstairs bedrooms. Fresh paint throughout. 3 Car Garage. HUGE POOL & HOT TUB! Great outdoor living area with brick pavers in the driveway and the rear. Artificial turf in the back yard for easy maintenance. view of Exploration peak park from the back yard. Gated neighborhood close to shopping, restaurants and more! Great home for entertaining guests and living the Las Vegas lifestyle.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Mountain Edge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Mountain Edge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10391875

* 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
Carolyn Reedom Elementary School Primary Regular 1,097 58 6
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Carolyn Reedom Elementary School

  • Education Level: Primary
  • # of students: 1,097
  • # of teachers: 58
6
GreatSchools Rating

Lois And Jerry Tarkanian Middle School

  • Education Level: Middle
  • # of students: 1,739
  • # of teachers: 71
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$494,100$603,900$549,000

PURCHASE PRICE

$2,412$2,948$2,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,680
EXPENSES Loan Payment -$1,907
Property Tax -$421
Property Insurance -$93
Property Management Fees -$119
CASH FLOW
$140

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.

$549,000

PROJECTED PRICE

$2,680

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
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

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,235

INVESTMENT

$151,235

Down Payment
$137,250
Rehab Estimate
$5,750
Closing Costs
$8,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,907

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,250
Loan Amount $411,750
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$48,772

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,680

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,651

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,5953$2,6004$2,6805$2,800
$2,800
RENT COMPS ANALYSIS
  • 7908 Morning Queen Drive Las Vegas, NV 4
    • 5 beds 4 baths ∙ 3,399 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,399 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,680
    • $0.79
    •  
  • 10450 Val Piora Street Las Vegas, NV 1
    • 4 beds 4 baths ∙ 3,164 Sqft ∙ Built 2010 4 beds 4 baths ∙ 3,164 Sqft ∙ Built 2010
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.76
    •  
  • 8568 Garden Valley Court Las Vegas, NV 2
    • 4 beds 3 baths ∙ 3,293 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,293 Sqft ∙ Built 2007
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.79
    •  
  • 9545 Stonily Lane Las Vegas, NV 3
    • 5 beds 4 baths ∙ 3,628 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,628 Sqft ∙ Built 2007
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.72
    •  
  • 7866 Buffalo Edge Court Las Vegas, NV 5
    • 5 beds 4 baths ∙ 3,308 Sqft ∙ Built 2016 5 beds 4 baths ∙ 3,308 Sqft ∙ Built 2016
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.85
    •  
PROPERTY LISTING DETAILS
Kassidy L Lane
1.541.543.6880
Platinum R.e. Professionals
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2265987
Last Updated: 02/05/2021
BESbswy