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7975 Jaspence Street Las Vegas, NV 89166

4 Beds 3 Baths 1,858 sqft Built 2019

$369,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $198.60
  • 5 Days on Market
  • MLS # : 2277723
  • Updated Date : 03/13/2021 at 22:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,858 sqft
  • Baths : 2 full , 1 half
Listing Agent

Real Estate Property Managemen

Listing Agent's Description

Perfection Welcomes You To This Beautiful 4 Bedroom Upgraded Home Built In 2019 Located In Providence. This Home Is Like New With Upgraded Flooring (No Carpet Throughout Home), Water Softener, Tankless Water Heater, Water Filtration System And Epoxy Garage Floor. You Will Enjoy The Open Living Room And Open Kitchen With Granite Counters, Seating Island, Dining Room And All Stainless Steel Appliances. Upstairs Has A Wide Open Entry Area Where There Are 4 Bedrooms As Well As A Separate Laundry Room. The Backyard Has Plenty Of Room To Enjoy The Beautiful Weather Las Vegas Has To Offer. You Will Enjoy This Home With All The Amenities In Providence. Make This Beautiful Home Yours Today.

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: 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
Kenneth Divich Elementary Primary Unknown NA
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Arbor View High School High Regular 2,878 116 9

Kenneth Divich Elementary

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
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
 

$332,100$405,900$369,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,282
Property Tax -$289
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
-$3

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.

$369,000

PROJECTED PRICE

$1,750

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

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$103,535

INVESTMENT

$103,535

Down Payment
$92,250
Rehab Estimate
$5,750
Closing Costs
$5,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,282

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,250
Loan Amount $276,750
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$23,539

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,714

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7003$1,7504$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 7975 Jaspence Street Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,858 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,858 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
  • 10225 Headrick Drive Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,817 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,817 Sqft ∙ Built 2008
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.91
    •  
  • 7853 Askew Las Vegas, NV 2
    • 4 beds 1 baths ∙ 1,940 Sqft ∙ Built 2009 4 beds 1 baths ∙ 1,940 Sqft ∙ Built 2009
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.88
    •  
  • 7846 Askew Place #0 Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,817 Sqft ∙ Built 2011 3 beds 3 baths ∙ 1,817 Sqft ∙ Built 2011
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.96
    •  
  • 10235 Danskin Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,913 Sqft ∙ Built 2013 4 beds 2 baths ∙ 1,913 Sqft ∙ Built 2013
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.94
    •  
PROPERTY LISTING DETAILS
Theresa M Estrada
1.702.788.1585
Real Estate Property Managemen
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2277723
Last Updated: 03/13/2021
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