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606 Shewsbury Avenue Las Vegas, NV 89178

2 Beds 3 Baths 1,297 sqft Built 2007

$263,900

List Price

$1,210

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $203.47
  • 4 Days on Market
  • MLS # : 2249467
  • Updated Date : 11/19/2020 at 14:01
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,297 sqft
  • Baths : 2 full , 1 half
Listing Agent

Gk Properties

Listing Agent's Description

Huntington Village at Rhodes Ranch! Charming 2 story home with open and airy entrance. Kitchen has white tiled countertops with upgraded ceramic sink. Light appliances. White wood banister handrail leads you up to the second floor where a large open loft welcomes you. Primary bedroom has 2 closets and access to primary bath with tub/shower combination. No maintenance backyard! Make this home yours today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
Robert L. Forbuss Elementary School Primary Regular 1,163 56 7
Wilbur And Theresa Faiss Middle School Middle Regular 1,409 61 NA
Sierra Vista High School High Regular 2,396 88 4

Robert L. Forbuss Elementary School

  • Education Level: Primary
  • # of students: 1,163
  • # of teachers: 56
7
GreatSchools Rating

Wilbur And Theresa Faiss Middle School

  • Education Level: Middle
  • # of students: 1,409
  • # of teachers: 61
NA
GreatSchools Rating

Sierra Vista High School

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

$237,510$290,290$263,900

PURCHASE PRICE

$1,089$1,331$1,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,210
EXPENSES Loan Payment -$974
Property Tax -$165
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
-$100

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.

$263,900

PROJECTED PRICE

$1,210

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,684

INVESTMENT

$75,684

Down Payment
$65,975
Rehab Estimate
$5,750
Closing Costs
$3,959

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$974

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,975
Loan Amount $197,925
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$12,493

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,210

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$1,210
1$1,210
$1,210
RENT COMPS ANALYSIS
  • 606 Shewsbury Avenue Las Vegas, NV
    • 2 beds 3 baths ∙ 1,297 Sqft ∙ Built 2007 2 beds 3 baths ∙ 1,297 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,210
    • $0.93
    •  
PROPERTY LISTING DETAILS
George Kypreos
1.702.815.1555
Gk Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249467
Last Updated: 11/19/2020
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