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7927 Avalon Island Street Las Vegas, NV 89139

6 Beds 3 Baths 3,297 sqft Built 2003

INVESTimate

$423,000

List Price

$2,140

$1,926 - $2,354

Rent Est.

$462,128  ( +9.25%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2003
  • Price/Sqft : $128.30
  • 9 Days on Market
  • MLS # : 2222831
  • Updated Date : 08/21/2020 at 14:06
CONSTRUCTION
  • Beds : 6
  • Floor Size : 3,297 sqft
  • Baths : 3 full
Listing Agent

Vegas Area Homes

Listing Agent's Description

How many rooms? Yes! 6 Bedrooms. Welcome home to this spacious, expansive, entertain ready, big family ready, move-in ready home! Situated near all amenities within Coronado Ranch community. As you enter this home, notice the high ceiling and spiral staircase step down and entertain your guest in the cozy sunken living room accented by large fireplace with surround sound. Formal dining separated by columns and seats 12. Surround sound thru out the house, outside too!. Don't yell at the kids use the intercom system, central vac system with sweep inlet. Shutters thru out to keep the house cool and cozy. 2nd fireplace in family and kitchen. 20+ft. retractable patio awning with speakers and intercom facing the yard as you watch the next Kobe shoot hoops. Too much to list. Come check it out! It won't Last!

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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: 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
 

$380,700$465,300$423,000

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,561
Property Tax -$320
Property Insurance -$91
HOA -$17
Property Management Fees -$119
CASH FLOW
$32

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.

$423,000

PROJECTED PRICE

$2,140

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.25%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,845

INVESTMENT

$117,845

Down Payment
$105,750
Rehab Estimate
$5,750
Closing Costs
$6,345

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,561

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $105,750
Loan Amount $317,250
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$35,532

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $2,184

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1003$2,1404$2,1505$2,500
$2,500
RENT COMPS ANALYSIS
  • 7927 Avalon Island Street Las Vegas, NV 3
    • 6 beds 3 baths ∙ 3,297 Sqft ∙ Built 2003 6 beds 3 baths ∙ 3,297 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.65
    •  
  • 8048 Avalon Mist Street Las Vegas, NV 1
    • 5 beds 3 baths ∙ 3,297 Sqft ∙ Built 2004 5 beds 3 baths ∙ 3,297 Sqft ∙ Built 2004
    property image
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.61
    •  
  • 6316 Bold Regatta Las Vegas, NV 2
    • 5 beds 3 baths ∙ 3,314 Sqft ∙ Built 2004 5 beds 3 baths ∙ 3,314 Sqft ∙ Built 2004
    property image
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.63
    •  
  • 6571 Abalone Shell Court Las Vegas, NV 4
    • 5 beds 2 baths ∙ 3,313 Sqft ∙ Built 2003 5 beds 2 baths ∙ 3,313 Sqft ∙ Built 2003
    property image
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.65
    •  
  • 7975 Avalon Island Street Las Vegas, NV 5
    • 5 beds 3 baths ∙ 3,297 Sqft ∙ Built 2003 5 beds 3 baths ∙ 3,297 Sqft ∙ Built 2003
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.76
    •  
PROPERTY LISTING DETAILS
Romulo L Silverio
1.702.785.1188
Vegas Area Homes
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222831
Last Updated: 08/21/2020
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