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6046 Hidden Summit Street North Las Vegas, NV 89031

3 Beds 3 Baths 2,147 sqft Built 2007

$315,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $146.72
  • 10 Days on Market
  • MLS # : 2266492
  • Updated Date : 02/13/2021 at 13:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,147 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Vip

Listing Agent's Description

Beautiful 3 Bedroom w/Den, 2.5 bath home located within close proximity to 4 community parks! Soothing palette tones, tile and wood-like flooring throughout the first floor. Kitchen boasts stylish counters w/white cabinets, black appliances and patio access off the dining area. Charming powder room with pedestal sink. Upstairs features a fantastic loft area w/endless possibilities, laundry room and plush carpeting throughout. Master retreat boasts a private en suite w/dual vanities. Enjoy the backyard covered patio & low care landscape. This wonderful home will not disappoint!

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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: Sierra Racnch Villages

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $84k312k

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

Neighborhood: Sierra Racnch Villages

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
Fredric W Watson Elementary School Primary Regular 648 36 2
Clifford O. Findlay Middle School Middle Regular 1,372 59 NA
Legacy High School High Regular 2,819 119 3

Fredric W Watson Elementary School

  • Education Level: Primary
  • # of students: 648
  • # of teachers: 36
2
GreatSchools Rating

Clifford O. Findlay Middle School

  • Education Level: Middle
  • # of students: 1,372
  • # of teachers: 59
NA
GreatSchools Rating

Legacy High School

  • Education Level: High
  • # of students: 2,819
  • # of teachers: 119
3
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$1,094
Property Tax -$253
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
-$44

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$315,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 10.0%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$13,867

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,535

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,4903$1,5954$1,6005$1,650
$1,650
RENT COMPS ANALYSIS
  • 6046 Hidden Summit Street North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,147 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,147 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.69
    •  
  • 29 Focal Point Avenue North Las Vegas, NV 1
    • 3 beds 2 baths ∙ 2,039 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,039 Sqft ∙ Built 2006
    property image
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.70
    •  
  • 116 Palatial Pines Avenue North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,325 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,325 Sqft ∙ Built 2010
    property image
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.69
    •  
  • 50 Lions Den Avenue North Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,306 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,306 Sqft ∙ Built 2007
    property image
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.69
    •  
  • 132 Lions Den North Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,110 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,110 Sqft ∙ Built 2009
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.78
    •  
PROPERTY LISTING DETAILS
James Hughes
1.702.460.8993
Keller Williams Vip
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2266492
Last Updated: 02/13/2021
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