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6094 Pirates Delight Avenue Las Vegas, NV 89139

4 Beds 3 Baths 2,171 sqft Built 2015

$420,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2015
  • Price/Sqft : $193.46
  • 9 Days on Market
  • MLS # : 2242610
  • Updated Date : 10/30/2020 at 16:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,171 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redfin

Listing Agent's Description

HONEY STOP THE CAR! THIS BEAUTIFUL SOUTHWEST HOME IS NESTLED AT THE END OF A CUL-DE-SAC, SO NO TRAFFIC! *SOLAR PANELS FULLY PAID OFF=POTENTIAL SAVINGS ON ENERGY!* 4 BED, 2.5 BATH HOME WITH BEAUTIFUL UPGRADES THROUGHOUT TO INCLUDE: VINYL PLANK FLOORING THROUGHOUT, UPGRADED CABINETS, MODERN BACKSPLASH, GRANITE COUNTERTOPS, AND SHUTTERS IN EVERY ROOM! HUGE WALK-IN PRIMARY CLOSET WITH DOUBLE SINKS IN THE BATHROOM! ALL APPLIANCES INCLUDED ALONG WITH WATER SOFTENER AND REVERSE OSMOSIS SYSTEMS! THIS OPPORTUNITY WILL NOT LAST LONG!!!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Mark L. Fine Elementary School Primary Regular 1,001 51 6
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Desert Oasis High School High Regular 2,417 102 5

Mark L. Fine Elementary School

  • Education Level: Primary
  • # of students: 1,001
  • # of teachers: 51
6
GreatSchools Rating

Lawrence And Heidi Canarelli Middle School

  • Education Level: Middle
  • # of students: 1,802
  • # of teachers: 70
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$378,000$462,000$420,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,550
Property Tax -$286
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
-$304

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.

$420,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.41%

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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,550

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $105,000
Loan Amount $315,000
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$8,827

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,845

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7003$1,7204$2,0005$2,000
$2,000
RENT COMPS ANALYSIS
  • 6094 Pirates Delight Avenue Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,171 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,171 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.79
    •  
  • 6172 Glimmering Light Avenue Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,982 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,982 Sqft ∙ Built 2005
    property image
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.86
    •  
  • 5972 Atlantis Dream Avenue Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,171 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,171 Sqft ∙ Built 2016
    property image
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.78
    •  
  • 6073 Crown Palms Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,277 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,277 Sqft ∙ Built 2015
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.88
    •  
  • 5895 Pirates Delight Avenue Las Vegas, NV 5
    • 5 beds 3 baths ∙ 2,277 Sqft ∙ Built 2016 5 beds 3 baths ∙ 2,277 Sqft ∙ Built 2016
    property image
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.88
    •  
PROPERTY LISTING DETAILS
Jamie Hall
1.702.575.8543
Redfin
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2242610
Last Updated: 10/30/2020
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