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817 Connex Court Las Vegas, NV 89178

3 Beds 3 Baths 2,492 sqft Built 2007

INVESTimate

$429,900

List Price

$1,620

$1,458 - $1,782

Rent Est.

$471,987  ( +9.79%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $172.51
  • 6 Days on Market
  • MLS # : 2223964
  • Updated Date : 08/21/2020 at 15:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,492 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty Marketing Group

Listing Agent's Description

Absolutely stunning! This home has been fully remodeled with high end finishes! All new flooring and interior and exterior paint, crown moulding, shiplap, upgraded door trim and baseboards, 3 patio doors, balcony and covered patio and gorgeous backyard with spa w/travertine and gorgeous views of the mountains. Plantation shutters, ceiling fans, upgraded electrical package and high end lighting fixtures, french doors added to the den/office for rear yard access, dog run, apoxy garage floor, new hot water heater, solar lights in rear and front yard, gas line for outdoor firepit and so much more, this home is like a model home and move in ready!

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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: 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
Robert L. Forbuss Elementary School Primary Regular 1,163 56 7
Wilbur And Theresa Faiss Middle School Middle Regular 1,409 61 NA
Sierra Vista High School High Regular 2,396 88 4

Robert L. Forbuss Elementary School

  • Education Level: Primary
  • # of students: 1,163
  • # of teachers: 56
7
GreatSchools Rating

Wilbur And Theresa Faiss Middle School

  • Education Level: Middle
  • # of students: 1,409
  • # of teachers: 61
NA
GreatSchools Rating

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

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

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

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-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,586
Property Tax -$281
Property Insurance -$75
HOA -$56
Property Management Fees -$119
CASH FLOW
-$498

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

$1,620

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.79%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

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 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,586

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,475
Loan Amount $322,425
See What Happens When You Reinvest Cash Flow

0.75

YEARS SAVED

$1,570

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,788

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,620
1$1,6202$1,6503$1,6754$1,6855$1,925
$1,925
RENT COMPS ANALYSIS
  • 817 Connex Court Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,492 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,492 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.65
    •  
  • 802 Warwick Castle Drive Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,322 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,322 Sqft ∙ Built 2005
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.71
    •  
  • 789 Calstock Court #0 Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,322 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,322 Sqft ∙ Built 2007
    property image
    LEASED 10/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.72
    •  
  • 779 Chapleton Court Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,492 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,492 Sqft ∙ Built 2006
    property image
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $0.68
    •  
  • 699 Chepstow Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,532 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,532 Sqft ∙ Built 2007
    property image
    LEASED 08/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.76
    •  
PROPERTY LISTING DETAILS
Lisa M Woolston
1.702.419.6718
Realty Marketing Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223964
Last Updated: 08/21/2020
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