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6017 Monticeto Way Las Vegas, NV 89108

3 Beds 1 Baths 1,187 sqft Built 1981

$279,000

List Price

$1,180

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $235.05
  • 4 Days on Market
  • MLS # : 2276038
  • Updated Date : 03/06/2021 at 22:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,187 sqft
  • Baths : 1 full
Listing Agent

Easy Street Realty Las Vegas

Listing Agent's Description

Warm, comfortable single family home with an oversized yard pool ready! 3 bedrooms, 2 bath with a 2 car garage. Living room has plantation shutters and a fireplace. Roomy kitchen & dining area. Ceiling fans throughout home. Backyard has 2 shaded patio areas. Plenty of room to add what you like! All appliances included. Move in ready. All this with low taxes and no HOA! Call to get lock box code on wall left of front door.

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: 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
R.e. Tobler Elementary School Primary Regular 582 36 2
Irwin And Susan Molasky Junior High School Middle Regular 1,131 50 NA
Cheyenne High School High Regular 2,212 91 2

R.e. Tobler Elementary School

  • Education Level: Primary
  • # of students: 582
  • # of teachers: 36
2
GreatSchools Rating

Irwin And Susan Molasky Junior High School

  • Education Level: Middle
  • # of students: 1,131
  • # of teachers: 50
NA
GreatSchools Rating

Cheyenne High School

  • Education Level: High
  • # of students: 2,212
  • # of teachers: 91
2
GreatSchools Rating
 

$251,100$306,900$279,000

PURCHASE PRICE

$1,062$1,298$1,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,180
EXPENSES Loan Payment -$969
Property Tax -$124
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
-$82

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.

$279,000

PROJECTED PRICE

$1,180

PROJECTED RENT

0.42%

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

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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,685

INVESTMENT

$79,685

Down Payment
$69,750
Rehab Estimate
$5,750
Closing Costs
$4,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$969

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,750
Loan Amount $209,250
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$12,201

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,180

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,080

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,1003$1,1804$1,3005$1,375
$1,375
RENT COMPS ANALYSIS
  • 6017 Monticeto Way Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,187 Sqft ∙ Built 1981 3 beds 1 baths ∙ 1,187 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,180
    • $0.99
    •  
  • 3221 Terra Bella Las Vegas, NV 1
    • 3 beds 1 baths ∙ 1,208 Sqft ∙ Built 1986 3 beds 1 baths ∙ 1,208 Sqft ∙ Built 1986
    property image
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.91
    •  
  • 3737 Rainy River Road #n/a Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,218 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,218 Sqft ∙ Built 1984
    property image
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.90
    •  
  • 3329 Corona Del Mar Drive Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,446 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,446 Sqft ∙ Built 1983
    property image
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.90
    •  
  • 5816 Divers Cove Way Las Vegas, NV 5
    • 3 beds 1 baths ∙ 1,480 Sqft ∙ Built 1980 3 beds 1 baths ∙ 1,480 Sqft ∙ Built 1980
    property image
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.93
    •  
PROPERTY LISTING DETAILS
Anthony Carter
1.702.443.2668
Easy Street Realty Las Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2276038
Last Updated: 03/06/2021
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