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7958 Howard Dade Avenue Las Vegas, NV 89129

4 Beds 2 Baths 1,936 sqft Built 1995

$349,995

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $180.78
  • 8 Days on Market
  • MLS # : 2242873
  • Updated Date : 10/30/2020 at 09:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,936 sqft
  • Baths : 2 full
Listing Agent

Prominent Realty Group Llc

Listing Agent's Description

FANTASTIC HOME IN THE NORTHWEST QUICK ACCESS TO EVERYTHING! SOARING CEILINGS UPON ENTRY*NEW INTERIOR AND EXTERIOR PAINT 4 BEDROOMS AND 2-1/2 BATHS, . NICE KITCHEN WITH CURVED WHITEWASH CABINETS AND BRAND NEW WHIRLPOOL APPLIANCES WITH WARRANTIES( TO BE INSTALLED BEFORE CLOSE OF ESCROW). NICE FAMILY ROOM WITH FIREPLACE, PLUS SEPARATE FORMAL LIVING ROOM .EXCELLENT CURB APPEAL.SPACIOUS BACKYARD WITH COVERED PATIO. A MUST SEE!!

SEE MORE

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: Lone Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k326k

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

Neighborhood: Lone Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10701616

* 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
Dorothy Eisenberg Elementary School Primary Regular 609 33 6
Irwin And Susan Molasky Junior High School Middle Regular 1,131 50 NA
Cimarron Memorial High School High Regular 2,541 102 3

Dorothy Eisenberg Elementary School

  • Education Level: Primary
  • # of students: 609
  • # of teachers: 33
6
GreatSchools Rating

Irwin And Susan Molasky Junior High School

  • Education Level: Middle
  • # of students: 1,131
  • # of teachers: 50
NA
GreatSchools Rating

Cimarron Memorial High School

  • Education Level: High
  • # of students: 2,541
  • # of teachers: 102
3
GreatSchools Rating
 

$314,996$384,995$349,995

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$1,291
Property Tax -$213
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
-$98

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.

$349,995

PROJECTED PRICE

$1,590

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.3%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,499

INVESTMENT

$98,499

Down Payment
$87,499
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,499
Loan Amount $262,496
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$18,630

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,563

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,4503$1,4504$1,4755$1,590
$1,590
RENT COMPS ANALYSIS
  • 7958 Howard Dade Avenue Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,936 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,936 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.82
    •  
  • 7978 Embarcadero Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,776 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,776 Sqft ∙ Built 1995
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.80
    •  
  • 3970 Vista Gold Court Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,818 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,818 Sqft ∙ Built 2002
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.80
    •  
  • 3768 Bossa Nova Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,768 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,768 Sqft ∙ Built 1995
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.82
    •  
  • 3968 Moon Tango Street Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,818 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,818 Sqft ∙ Built 2003
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.81
    •  
PROPERTY LISTING DETAILS
Pradeep Manjeshwar
1.702.325.5166
Prominent Realty Group Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2242873
Last Updated: 10/30/2020
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