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6086 Sundown Ridge Street Las Vegas, NV 89113

4 Beds 2 Baths 3,450 sqft Built 2003

$545,000

List Price

$2,800

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $157.97
  • 4 Days on Market
  • MLS # : 2261877
  • Updated Date : 01/15/2021 at 05:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,450 sqft
  • Baths : 2 full
Listing Agent

Property Search Vegas Llc

Listing Agent's Description

WELCOME HOME TO THIS MOVE IN READY BEAUTIFUL SW PROPERTY, OPEN FLOOR PLAN, 4 BEDROOMS, 2 3/4 BATHS, 3450 SQ FT. 14810 SQ FT LOT LARGE ENOUGH FOR A POOL, CASITA AND PLAY AREA. 4 CAR GARAGE, GOURMET KITCHEN INCLUDES ISLAND, PANTRY, GRANITE COUNTERS, EATING AREA, BREAKFAST BAR, LARGE FAMILY ROOM, FORMAL DINING ROOM, FORMAL LIVING ROOM, OFFICE/DEN, 1 BDRM DOWN WITH ADJOINING BATH, 3 BDRMS UP INC OVERSIZED MASTER BDRM WITH VIEW OF STRIP AND SITTING AREA, HUGE LOFT, NEW CARPET NEW PAINT, CORNER LOT IN CUL DE SAC, CLOSE TO RAIDER STADIUM YET FAR ENOUGH TO AVOID TRAFFIC LESS THAN 1 MILE FROM SHOPPING AND DINING. SHORT COMMUTE TO THE STRIP AND MCCARREN AIRPORT.

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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: Sovana

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k321k

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

Neighborhood: Sovana

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100115012001250130013501400145015001550160016501700Rent in $10701722

* 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
Marion B. Earl Elementary School Primary Regular 727 38 6
Grant Sawyer Middle School Middle Regular 1,308 52 NA
Durango High School High Regular 2,302 95 5

Marion B. Earl Elementary School

  • Education Level: Primary
  • # of students: 727
  • # of teachers: 38
6
GreatSchools Rating

Grant Sawyer Middle School

  • Education Level: Middle
  • # of students: 1,308
  • # of teachers: 52
NA
GreatSchools Rating

Durango High School

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

$490,500$599,500$545,000

PURCHASE PRICE

$2,520$3,080$2,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,800
EXPENSES Loan Payment -$1,893
Property Tax -$363
Property Insurance -$94
Property Management Fees -$119
CASH FLOW
$331

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.

$545,000

PROJECTED PRICE

$2,800

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.6%
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$0.0$5.0k$10k$15k$20k$25k$30k$35k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$150,175

INVESTMENT

$150,175

Down Payment
$136,250
Rehab Estimate
$5,750
Closing Costs
$8,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,893

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $136,250
Loan Amount $408,750
See What Happens When You Reinvest Cash Flow

9.08

YEARS SAVED

$67,602

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,800

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $3,252

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,9503$3,0004$3,2005$3,600
$3,600
RENT COMPS ANALYSIS
  • 6086 Sundown Ridge Street Las Vegas, NV 1
    • 4 beds 2 baths ∙ 3,450 Sqft ∙ Built 2003 4 beds 2 baths ∙ 3,450 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.81
    •  
  • 7729 Spanish Bay Drive Las Vegas, NV 2
    • 3 beds 4 baths ∙ 3,276 Sqft ∙ Built 1985 3 beds 4 baths ∙ 3,276 Sqft ∙ Built 1985
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.90
    •  
  • 8049 Pinnacle Peak Avenue Las Vegas, NV 3
    • 4 beds 3 baths ∙ 3,508 Sqft ∙ Built 1988 4 beds 3 baths ∙ 3,508 Sqft ∙ Built 1988
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.86
    •  
  • 8120 Castle Pines Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 3,507 Sqft ∙ Built 1987 3 beds 3 baths ∙ 3,507 Sqft ∙ Built 1987
    LEASED 08/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.91
    •  
  • 7655 Spanish Bay Drive Las Vegas, NV 5
    • 3 beds 4 baths ∙ 3,276 Sqft ∙ Built 1984 3 beds 4 baths ∙ 3,276 Sqft ∙ Built 1984
    LEASED 08/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.10
    •  
PROPERTY LISTING DETAILS
Sandra M Curtis
1.702.283.1831
Property Search Vegas Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261877
Last Updated: 01/15/2021
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