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6058 Plaza Del Sol Street Las Vegas, NV 89148

4 Beds 3 Baths 2,715 sqft Built 2018

$629,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $231.68
  • 6 Days on Market
  • MLS # : 2266205
  • Updated Date : 02/06/2021 at 23:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,715 sqft
  • Baths : 2 full , 1 half
Listing Agent

Urban Nest Realty

Listing Agent's Description

Gated single story with 3 car garage in the southwest! Open concept living room opens to kitchen. Kitchen features stainless steel appliances and island with breakfast bar. Master bedroom features vaulted ceilings. Master bathroom features double sinks and separate tub and shower. Head to back yard through the three panel sliding patio doors. Backyard features covered patio.

SEE MORE

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: 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
Durango High School High Regular 2,302 95 5

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

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$566,100$691,900$629,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$2,185
Property Tax -$431
Property Insurance -$80
Property Management Fees -$119
CASH FLOW
-$864

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.

$629,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.31%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$172,435

INVESTMENT

$172,435

Down Payment
$157,250
Rehab Estimate
$5,750
Closing Costs
$9,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,185

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $157,250
Loan Amount $471,750
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$150

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,996

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,799
1$1,7992$1,9503$1,9954$1,9955$2,000
$2,000
RENT COMPS ANALYSIS
  • 6058 Plaza Del Sol Street Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,715 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,715 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.72
    •  
  • 6054 Doroca Street Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,533 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,533 Sqft ∙ Built 2006
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.71
    •  
  • 6176 Jennings Cove Court Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,776 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,776 Sqft ∙ Built 2016
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.72
    •  
  • 6195 Jennings Cove Court Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,521 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,521 Sqft ∙ Built 2016
    LEASED 01/21/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.79
    •  
  • 6072 Doroca Street Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,775 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,775 Sqft ∙ Built 2007
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.72
    •  
PROPERTY LISTING DETAILS
Jim C Fong
1.702.997.2050
Urban Nest Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2266205
Last Updated: 02/06/2021
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