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6002 Lamotte Avenue Las Vegas, NV 89141

3 Beds 3 Baths 2,396 sqft Built 2004

$369,999

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $154.42
  • 6 Days on Market
  • MLS # : 2246318
  • Updated Date : 11/13/2020 at 16:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,396 sqft
  • Baths : 2 full , 1 half
Listing Agent

Urban Nest Realty

Listing Agent's Description

Stunning Home Nestled in the Community of Southern Highlands- This 3 Bedroom 2.5 Bath Home with Formal Living Room, Family Room and large loft is complimented by Neutral Colors Crown Moldings and 5 inch baseboards, lovely tile and plush carpeting! Stainless Appliances in the kitchen to with an island to die for- Check out all the storage and pull outs! Samsung Washer and Dryer Upstairs too! Outside BBQ Bar area Play Area Perfect for entertaining a large group or just have fun with a few! Garage is Epoxied and has overhead racks for storage! It is all HERE and it is Clean and Move in ready!

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: Southern Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $119k410k

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

Neighborhood: Southern Highlands

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
Charles And Phyllis Frias Elementary School Primary Regular 802 41 10
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Charles And Phyllis Frias Elementary School

  • Education Level: Primary
  • # of students: 802
  • # of teachers: 41
10
GreatSchools Rating

Lois And Jerry Tarkanian Middle School

  • Education Level: Middle
  • # of students: 1,739
  • # of teachers: 71
NA
GreatSchools Rating

Desert Oasis High School

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

$332,999$406,999$369,999

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,365
Property Tax -$241
Property Insurance -$74
Property Management Fees -$119
CASH FLOW
$52

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.

$369,999

PROJECTED PRICE

$1,850

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.0%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$103,800

INVESTMENT

$103,800

Down Payment
$92,500
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,365

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,500
Loan Amount $277,499
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$35,294

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,007

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8503$1,9444$1,9955$2,000
$2,000
RENT COMPS ANALYSIS
  • 6002 Lamotte Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,396 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,396 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.77
    •  
  • 10760 Balmoral Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,378 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,378 Sqft ∙ Built 2003
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.78
    •  
  • 5992 Genovese Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,378 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,378 Sqft ∙ Built 2003
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,944
    • $0.82
    •  
  • 6178 Pine Banks Court Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,335 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,335 Sqft ∙ Built 2009
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.85
    •  
  • 5549 Casa Palazzo Court Las Vegas, NV 5
    • 3 beds 4 baths ∙ 2,232 Sqft ∙ Built 2003 3 beds 4 baths ∙ 2,232 Sqft ∙ Built 2003
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.90
    •  
PROPERTY LISTING DETAILS
Kimberly Honrath-waters
1.702.561.7968
Urban Nest Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2246318
Last Updated: 11/13/2020
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