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6016 Rabbit Track Street Las Vegas, NV 89130

4 Beds 3 Baths 2,984 sqft Built 2004

$449,900

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $150.77
  • 4 Days on Market
  • MLS # : 2253362
  • Updated Date : 12/03/2020 at 22:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,984 sqft
  • Baths : 2 full , 1 half
Listing Agent

Simply Vegas

Listing Agent's Description

Spacious Open Floor Plan! HIGH Ceilings! One Story! 4 Bedrooms! Oversized Primary Bedroom with Sitting Area, Patio Access and Separate from other Bedrooms! Kitchen with Double Ovens and Granite Counter Tops! Formal Dining Area! 3 Car Garage with Built-in Cabinets! Covered Patio! Leased Solar Panels! Synthetic Grass! Dog Run! Gated Community! Convenient Location, Close to 215 and 95!

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: North Cheyenne

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k302k

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

Neighborhood: North Cheyenne

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10011606

* 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
Joseph Neal Steam Academy Primary Regular 688 34 5
Anthony Saville Middle School Middle Regular 1,494 58 NA
Shadow Ridge High School High Regular 2,697 105 6

Joseph Neal Steam Academy

  • Education Level: Primary
  • # of students: 688
  • # of teachers: 34
5
GreatSchools Rating

Anthony Saville Middle School

  • Education Level: Middle
  • # of students: 1,494
  • # of teachers: 58
NA
GreatSchools Rating

Shadow Ridge High School

  • Education Level: High
  • # of students: 2,697
  • # of teachers: 105
6
GreatSchools Rating
 

$404,910$494,890$449,900

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,660
Property Tax -$354
Property Insurance -$85
Property Management Fees -$119
CASH FLOW
-$27

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.

$449,900

PROJECTED PRICE

$2,190

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.7%
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$1.4M$1.6M$1.8M

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$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,974

INVESTMENT

$124,974

Down Payment
$112,475
Rehab Estimate
$5,750
Closing Costs
$6,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,475
Loan Amount $337,425
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$31,625

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,245

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,1503$2,1904$2,3505$2,395
$2,395
RENT COMPS ANALYSIS
  • 6016 Rabbit Track Street Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,984 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,984 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.73
    •  
  • 6432 Somervell Ranch Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,700 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,700 Sqft ∙ Built 2009
    LEASED 07/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.78
    •  
  • 6292 Fisher Avenue Las Vegas, NV 2
    • 3 beds 2 baths ∙ 2,945 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,945 Sqft ∙ Built 2005
    LEASED 06/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.73
    •  
  • 5514 Moonlight Garden Street Las Vegas, NV 4
    • 5 beds 4 baths ∙ 3,248 Sqft ∙ Built 2008 5 beds 4 baths ∙ 3,248 Sqft ∙ Built 2008
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.72
    •  
  • 6317 Markleham Avenue Las Vegas, NV 5
    • 5 beds 3 baths ∙ 3,078 Sqft ∙ Built 2003 5 beds 3 baths ∙ 3,078 Sqft ∙ Built 2003
    LEASED 06/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.78
    •  
PROPERTY LISTING DETAILS
Nicole Maroe
1.702.303.8243
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2253362
Last Updated: 12/03/2020
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