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7939 Home Light Street Las Vegas, NV 89139

3 Beds 2 Baths 1,274 sqft Built 2005

$270,000

List Price

$1,260

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $211.93
  • 4 Days on Market
  • MLS # : 2262807
  • Updated Date : 01/22/2021 at 17:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,274 sqft
  • Baths : 2 full
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

BEAUTIFUL HOME LOCATED IN DESIRABLE LAMPLIGHT COMMUNITY * THREE BEDROOMS/TWO FULL BATHROOMS * ONE BEDROOM AND BATH DOWNSTAIRS * OPEN FLOORPLAN * GRANITE COUNTERTOPS * HVAC WAS REPLACED THREE YEARS AGO * APPLIANCES STAY * COVERED PATIO * GATED COMMUNITY WITH A POOL * A MUST SEE!

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: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
Mark L. Fine Elementary School Primary Regular 1,001 51 6
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Desert Oasis High School High Regular 2,417 102 5

Mark L. Fine Elementary School

  • Education Level: Primary
  • # of students: 1,001
  • # of teachers: 51
6
GreatSchools Rating

Lawrence And Heidi Canarelli Middle School

  • Education Level: Middle
  • # of students: 1,802
  • # of teachers: 70
NA
GreatSchools Rating

Desert Oasis High School

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

$243,000$297,000$270,000

PURCHASE PRICE

$1,134$1,386$1,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,260
EXPENSES Loan Payment -$938
Property Tax -$169
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
-$18

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.

$270,000

PROJECTED PRICE

$1,260

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$938

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$16,458

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,260

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,268

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2603$1,3254$1,3505$1,350
$1,350
RENT COMPS ANALYSIS
  • 7939 Home Light Street Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,274 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,274 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $0.99
    •  
  • 5938 Sakhalin Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,187 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,187 Sqft ∙ Built 2004
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.01
    •  
  • 8171 Golden Flowers Street #- Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,310 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,310 Sqft ∙ Built 2006
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $1.01
    •  
  • 5949 Banbury Heights Way Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,358 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,358 Sqft ∙ Built 2003
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.99
    •  
  • 5893 Banbury Heights Way Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,398 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,398 Sqft ∙ Built 2003
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.97
    •  
PROPERTY LISTING DETAILS
Erika F Delk
1.702.461.2132
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2262807
Last Updated: 01/22/2021
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