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6108 Wild Berry Drive Las Vegas, NV 89142

4 Beds 2 Baths 1,644 sqft Built 1993

$280,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $170.32
  • 3 Days on Market
  • MLS # : 2259045
  • Updated Date : 01/09/2021 at 21:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,644 sqft
  • Baths : 2 full
Listing Agent

Realty Executives Experts

Listing Agent's Description

FANTASTIC LOCATION NEAR HOLLYWOOD AQUATIC CENTER, RECREATION CENTER AND PARK, SCHOOLS, ALBERTSONS, TARGET, RESTAURANTS, KOHLS, AND WALMART! THIS STUNNING TWO-STORY POOL HOME WITH ARCHED ENTRY FRAMES THE FRONT EXTERIOR. SPACIOUS FORMAL LIVING ROOM FEATURES VAULTED CEILINGS OPENING TO THE ADJOINING EXPANSIVE FAMILY ROOM ANCHORED BY A STATEMENT FIREPLACE AND SLIDING GLASS DOORS TO THE BACKYARD WITH STUNNING INGROUND POOL AND COVERED PATIO TO ENTERTAIN FAMILY AND FRIENDS. THE ISLAND KITCHEN BAR MAKES PREPARING FAMILY MEALS EASY AND ENJOY SHARING MEALS IN THE ADJOINING DINING AREA. RELAXING MASTER SUITE FEATURES VAULTED CEILING AND HIS & HER CLOSETS. TRANQUIL EN-SUITE WITH DUAL SINKS AND TUB/SHOWER COMBINATION. 3 SECONDARY BEDROOMS UPSTAIRS. THIS ONE IS A MUST SEE AND WON’T LAST LONG!

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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: Orchards

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Orchards

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
Daniel Goldfarb Elementary School Primary Regular 838 38 6
Kathleen And Tim Harney Middle School Middle Regular 1,845 71 NA
Las Vegas High School High Regular 3,077 121 4

Daniel Goldfarb Elementary School

  • Education Level: Primary
  • # of students: 838
  • # of teachers: 38
6
GreatSchools Rating

Kathleen And Tim Harney Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 71
NA
GreatSchools Rating

Las Vegas High School

  • Education Level: High
  • # of students: 3,077
  • # of teachers: 121
4
GreatSchools Rating
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$973
Property Tax -$175
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
$104

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$280,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.3%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$973

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$25,295

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,381

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2003$1,2754$1,3005$1,430
$1,430
RENT COMPS ANALYSIS
  • 6108 Wild Berry Drive Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,644 Sqft ∙ Built 1993 4 beds 2 baths ∙ 1,644 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.87
    •  
  • 1291 Sweet Orange Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,478 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,478 Sqft ∙ Built 2004
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.81
    •  
  • 1274 Orchard View Street Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,478 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,478 Sqft ∙ Built 2003
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.81
    •  
  • 1198 Plum Canyon Street Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,478 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,478 Sqft ∙ Built 2003
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.86
    •  
  • 1301 Orange Meadow Street Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,475 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,475 Sqft ∙ Built 2003
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.88
    •  
PROPERTY LISTING DETAILS
Shane K Scott
1.702.656.5900
Realty Executives Experts
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2259045
Last Updated: 01/09/2021
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