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7928 Airola Peak Street Las Vegas, NV 89166

4 Beds 3 Baths 2,718 sqft Built 2007

$429,900

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $158.17
  • 3 Days on Market
  • MLS # : 2267938
  • Updated Date : 02/06/2021 at 18:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,718 sqft
  • Baths : 3 full
Listing Agent

Nexthome Community Real Estate

Listing Agent's Description

STUNNING & WELL APPOINTED PROVIDENCE 2 STORY HOME LOCATED IN COVETED GATED NORTHERN TERRACE COMMUNITY HIGHLIGHTED BY PREMIER COMMUNITY AMENTITIES w/ 3 POOLS, SPA, FITNESS CENTER, CLUBHOUSE, BBQ AREA, PLAYGROUND & MORE!*HERE YOU WILL DISCOVER A THOUGHTFUL LAYOUT FEATURING AN ABUNDANCE OF UPGRADES & STYLISH FINISHES THROUGHOUT 2,718sqft OF LIVING SPACE ~ 4 BEDROOMS + LOFT + DEN & 3 FULL BATHS*THIS POPULAR FLOOR PLAN HAS THE PERFECT BLEND OF FUNCTION AND COMFORT, HOST TO A GENEROUS GREAT ROOM THAT OPENS TO A LARGE, EAT-IN ISLAND KITCHEN*THE HOME’S APPEAL CONTINUES ON THE MAIN LEVEL w/ A SECLUDED DEN & DOWNSTAIRS GUEST BEDROOM*STEP OUTSIDE TO A NICELY DESIGNED BACKYARD ESTABLISHED WITH NATURAL GRASS, PAVERED PATIO, FIRE PIT, FRUIT TREES & GORGEOUS MOUNTAIN VIEWS w/ NO REAR NEIGHBORS*THE SECOND LEVEL PRESENTS A LUXURIOUS SEPARATE PRIMARY SUITE, LOFT, LARGE SECONDARY BEDROOMS & UPSTAIRS LAUNDRY ROOM*PRIME LOCATION IN THE HEART OF THE PROVIDENCE NEAR SEVERAL COMMUNITY PARKS & SCHOOLS

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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: Cliffs Edge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Cliffs Edge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Henry And Evelyn Bozarth Elementary School Primary Regular 905 40 8
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Arbor View High School High Regular 2,878 116 9

Henry And Evelyn Bozarth Elementary School

  • Education Level: Primary
  • # of students: 905
  • # of teachers: 40
8
GreatSchools Rating

Edmundo Eddie Escobedo Sr Middle School

  • Education Level: Middle
  • # of students: 1,171
  • # of teachers: 47
NA
GreatSchools Rating

Arbor View High School

  • Education Level: High
  • # of students: 2,878
  • # of teachers: 116
9
GreatSchools Rating
 

$386,910$472,890$429,900

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,493
Property Tax -$323
Property Insurance -$80
Property Management Fees -$119
CASH FLOW
$5

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.

$429,900

PROJECTED PRICE

$2,020

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.9%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,674

INVESTMENT

$119,674

Down Payment
$107,475
Rehab Estimate
$5,750
Closing Costs
$6,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,493

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $107,475
Loan Amount $322,425
See What Happens When You Reinvest Cash Flow

5.75

YEARS SAVED

$28,158

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,140

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,0203$2,1004$2,1505$2,300
$2,300
RENT COMPS ANALYSIS
  • 7928 Airola Peak Street Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,718 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,718 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.74
    •  
  • 7710 Albright Peak Drive Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,601 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,601 Sqft ∙ Built 2013
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.71
    •  
  • 10120 Nash Peak Avenue Las Vegas, NV 3
    • 5 beds 3 baths ∙ 2,591 Sqft ∙ Built 2012 5 beds 3 baths ∙ 2,591 Sqft ∙ Built 2012
    LEASED 01/21/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.81
    •  
  • 10007 Desert Bighorn Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,794 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,794 Sqft ∙ Built 2019
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.77
    •  
  • 10665 Scorched Skye Las Vegas, NV 5
    • 4 beds 4 baths ∙ 2,669 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,669 Sqft ∙ Built 2020
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.86
    •  
PROPERTY LISTING DETAILS
Peter Torsiello
1.702.743.2333
Nexthome Community Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2267938
Last Updated: 02/06/2021
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