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6015 Saddle Horse Avenue Las Vegas, NV 89122

3 Beds 2 Baths 1,420 sqft Built 2006

$259,000

List Price

$1,240

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $182.39
  • 3 Days on Market
  • MLS # : 2250059
  • Updated Date : 11/27/2020 at 06:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,420 sqft
  • Baths : 2 full
Listing Agent

Homesmart Encore

Listing Agent's Description

Wonderful single story home in the highly desirable guard gated 55+ community of Solera inside of the master planned community of Stallion Mountain. This 3 bedroom home features carpet and tile throughout, ceiling fans, and blinds. Large open living room and dining room. Spacious kitchen features plenty of cabinets. Ready for you to call home, all appliances stay! Fully fenced in backyard. Enjoy all the amenities this 55+ community has to offer. Just a short stroll to the gorgeous clubhouse pool, spa, bocce ball exercise room, tennis courts, golf course and more. Check out the fun activity calendar. This home can't be beat at this price - don't miss out schedule a showing today!

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: Stallion Montain

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k306k

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

Neighborhood: Stallion Montain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10071606

* 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
Cynthia Cunningham Elementary School Primary Regular 801 38 4
Kathleen And Tim Harney Middle School Middle Regular 1,845 71 NA
Chaparral High School High Regular 2,270 87 3

Cynthia Cunningham Elementary School

  • Education Level: Primary
  • # of students: 801
  • # of teachers: 38
4
GreatSchools Rating

Kathleen And Tim Harney Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 71
NA
GreatSchools Rating

Chaparral High School

  • Education Level: High
  • # of students: 2,270
  • # of teachers: 87
3
GreatSchools Rating
 

$233,100$284,900$259,000

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$956
Property Tax -$190
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
-$80

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.

$259,000

PROJECTED PRICE

$1,240

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,385

INVESTMENT

$74,385

Down Payment
$64,750
Rehab Estimate
$5,750
Closing Costs
$3,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$956

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,750
Loan Amount $194,250
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$13,061

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,240

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,239

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,240
1$1,2402$1,3503$1,3604$1,3955$1,500
$1,500
RENT COMPS ANALYSIS
  • 6015 Saddle Horse Avenue Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $0.87
    •  
  • 3332 Sheep Canyon Street Las Vegas, NV 2
    • 3 beds 1 baths ∙ 1,552 Sqft ∙ Built 2005 3 beds 1 baths ∙ 1,552 Sqft ∙ Built 2005
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.87
    •  
  • 6329 Wild Chive Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,601 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,601 Sqft ∙ Built 2006
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.85
    •  
  • 6221 Eagle Cap Court Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 2005
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.90
    •  
  • 3954 Tanning Street Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,726 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,726 Sqft ∙ Built 2006
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.87
    •  
PROPERTY LISTING DETAILS
Judy Eberhart
1.702.596.7642
Homesmart Encore
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2250059
Last Updated: 11/27/2020
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