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6100 Cocktail Drive Las Vegas, NV 89130

4 Beds 2 Baths 2,304 sqft Built 2001

$479,900

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $208.29
  • 5 Days on Market
  • MLS # : 2256240
  • Updated Date : 12/18/2020 at 15:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,304 sqft
  • Baths : 2 full
Listing Agent

South Bay Realty

Listing Agent's Description

HGTV INSPIRED REMODEL FROM TOP TO BOTTOM!! CHECK OUT THE 24X48" MASSIVE TILES, BRAND NEW TEXAS SIZE ISLAND "ONE SLAB OF QUARTZ MAKES UP THE FULL WATERFALL KITCHEN ISLAND", BRAND NEW APPLIANCES WITH CUSTOM BACKSPLASH, THE MASTER BATH IS NOW A CUSTOM RETREAT WITH STAND ALONE TUB AND CUSTOM SHOWER SURROUNDS, NEW CARPET AND DESIGNER PAINT, AND LETS NOT FORGET THE BRAND NEW CUSTOM BACKYARD WITH SEPERATE RV PARKING! LOCATED DIRECTLY ACROSS THE STREET FROM THE COMMUNITY PARK!!

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: North Cheyenne

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k302k

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

Neighborhood: North Cheyenne

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10011606

* 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
Kay Carl Elementary School Primary Regular 686 32 4
Anthony Saville Middle School Middle Regular 1,494 58 NA
Shadow Ridge High School High Regular 2,697 105 6

Kay Carl Elementary School

  • Education Level: Primary
  • # of students: 686
  • # of teachers: 32
4
GreatSchools Rating

Anthony Saville Middle School

  • Education Level: Middle
  • # of students: 1,494
  • # of teachers: 58
NA
GreatSchools Rating

Shadow Ridge High School

  • Education Level: High
  • # of students: 2,697
  • # of teachers: 105
6
GreatSchools Rating
 

$431,910$527,890$479,900

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,771
Property Tax -$316
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
-$447

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.

$479,900

PROJECTED PRICE

$1,830

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.7%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,924

INVESTMENT

$132,924

Down Payment
$119,975
Rehab Estimate
$5,750
Closing Costs
$7,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $119,975
Loan Amount $359,925
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$4,971

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,849

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7953$1,8304$1,8955$1,925
$1,925
RENT COMPS ANALYSIS
  • 6100 Cocktail Drive Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,304 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,304 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.79
    •  
  • 5328 Big Fawn Court Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,086 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,086 Sqft ∙ Built 2000
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.77
    •  
  • 6129 Crystal Talon Street Las Vegas, NV 2
    • 5 beds 3 baths ∙ 2,275 Sqft ∙ Built 2000 5 beds 3 baths ∙ 2,275 Sqft ∙ Built 2000
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.79
    •  
  • 6336 Malachite Bay Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,420 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,420 Sqft ∙ Built 1997
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.78
    •  
  • 6217 Escapa Court Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,209 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,209 Sqft ∙ Built 2011
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.87
    •  
PROPERTY LISTING DETAILS
Janie Schurr
1.702.493.5188
South Bay Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2256240
Last Updated: 12/18/2020
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