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6051 Journeys End Street Las Vegas, NV 89148

4 Beds 3 Baths 1,672 sqft Built 2003

$315,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $188.40
  • 6 Days on Market
  • MLS # : 2273889
  • Updated Date : 03/05/2021 at 23:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,672 sqft
  • Baths : 2 full , 1 half
Listing Agent

Vegas Dream Homes Inc

Listing Agent's Description

Beautiful southwest home! This home has 4 bedrooms, 2.5 baths, and spacious yard with a patio. This community has a pool, spa, fitness center, playground, and a club house. Kitchen refrigerator, washer, and dryer stay with the home. Refrigerator and freezer in garage do not convey.

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 Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k329k

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

Neighborhood: Southern Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9691735

* 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
Kathy L. Batterman Elementary School Primary Regular 910 47 9
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Sierra Vista High School High Regular 2,396 88 4

Kathy L. Batterman Elementary School

  • Education Level: Primary
  • # of students: 910
  • # of teachers: 47
9
GreatSchools Rating

Victoria Fertitta Middle School

  • Education Level: Middle
  • # of students: 1,472
  • # of teachers: 60
NA
GreatSchools Rating

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

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

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$1,094
Property Tax -$199
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
$118

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.

$315,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.4%
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$1.0M$1.2M

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

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 40% 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

7.67

YEARS SAVED

$31,446

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,563

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5903$1,6004$1,7005$1,725
$1,725
RENT COMPS ANALYSIS
  • 6051 Journeys End Street Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,672 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,672 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.95
    •  
  • 9564 Delivery Avenue #0 Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,672 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,672 Sqft ∙ Built 2003
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.87
    •  
  • 6144 New Sky Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,672 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,672 Sqft ∙ Built 2004
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.96
    •  
  • 9518 Van Halen Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,792 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,792 Sqft ∙ Built 2007
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.95
    •  
  • 9494 Van Halen Lane Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,792 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,792 Sqft ∙ Built 2007
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.96
    •  
PROPERTY LISTING DETAILS
John J Faulis
1.702.265.1067
Vegas Dream Homes Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2273889
Last Updated: 03/05/2021
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