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7940 Polonaise Avenue Las Vegas, NV 89123

3 Beds 2 Baths 1,883 sqft Built 1992

$416,680

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $221.29
  • 3 Days on Market
  • MLS # : 2271319
  • Updated Date : 02/20/2021 at 14:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,883 sqft
  • Baths : 1 full , 1 half
Listing Agent

The Russell Group

Listing Agent's Description

Absolutely stunning 3 bedroom home located on beautiful corner lot,the home futures incredible design with a European flare, Italian Marble Bathrooms ,walk in shower with multiple shower heads for true bathing experience. Master bedroom has walk in fully functional closet with built in storage. A private back yard Oasis surrounds an inviting Salt water pool. Home is tremendous. Pictures are truly worth a thousand words

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: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
Louis Wiener Jr Elementary School Primary Regular 701 39 7
Jack L. Schofield Middle School Middle Regular 1,332 51 NA
Silverado High School High Regular 2,263 94 5

Louis Wiener Jr Elementary School

  • Education Level: Primary
  • # of students: 701
  • # of teachers: 39
7
GreatSchools Rating

Jack L. Schofield Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 51
NA
GreatSchools Rating

Silverado High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
5
GreatSchools Rating
 

$375,012$458,348$416,680

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$1,447
Property Tax -$177
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
-$197

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.

$416,680

PROJECTED PRICE

$1,610

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

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$116,170

INVESTMENT

$116,170

Down Payment
$104,170
Rehab Estimate
$5,750
Closing Costs
$6,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,447

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $104,170
Loan Amount $312,510
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$12,795

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,728

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6003$1,6104$1,6375$1,795
$1,795
RENT COMPS ANALYSIS
  • 7940 Polonaise Avenue Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,883 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,883 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.86
    •  
  • 8054 Counterpoint Lane Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,876 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,876 Sqft ∙ Built 1991
    property image
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.85
    •  
  • 8012 Big Top Drive Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,792 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,792 Sqft ∙ Built 1991
    property image
    LEASED 02/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.89
    •  
  • 7988 Counterpoint Lane Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,734 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,734 Sqft ∙ Built 1990
    property image
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,637
    • $0.94
    •  
  • 1080 Sleetridge Drive Henderson, NV 5
    • 4 beds 2 baths ∙ 1,812 Sqft ∙ Built 1990 4 beds 2 baths ∙ 1,812 Sqft ∙ Built 1990
    property image
    LEASED 01/21/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.99
    •  
PROPERTY LISTING DETAILS
Todd E Geib
1.702.595.5831
The Russell Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2271319
Last Updated: 02/20/2021
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