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6110 Cortney Ridge Court Las Vegas, NV 89149

4 Beds 3 Baths 4,252 sqft Built 2014

$950,000

List Price

$3,450

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

January 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $223.42
  • 7 Days on Market
  • MLS # : 2261442
  • Updated Date : 01/21/2021 at 00:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,252 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Quality details and finishes, single story semi-custom Pinnacle Home. Gated courtyard. Open floor plan, 4 bedrooms, 4 bathrooms, and office. Great room with high ceilings and custom stone fireplace. Beautiful form and function in kitchen with huge walk-in pantry. Master with custom bookshelves, California closet. Private backyard with patios. RV Parking. Stunning single story home in gated enclave. Upgrade sheet in document file. A remarkable home. Move in condition/pristine!

SEE MORE

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: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Marshall C. Darnell Elementary School Primary Regular 793 40 6
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Centennial High School High Regular 3,055 124 6

Marshall C. Darnell Elementary School

  • Education Level: Primary
  • # of students: 793
  • # of teachers: 40
6
GreatSchools Rating

Edmundo Eddie Escobedo Sr Middle School

  • Education Level: Middle
  • # of students: 1,171
  • # of teachers: 47
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$855,000$1,045,000$950,000

PURCHASE PRICE

$3,105$3,795$3,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,450
EXPENSES Loan Payment -$3,300
Property Tax -$609
Property Insurance -$109
Property Management Fees -$119
CASH FLOW
-$688

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.

$950,000

PROJECTED PRICE

$3,450

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.3%
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$500k$1.0M$1.5M$2.0M$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k$0.0$10k$20k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$257,500

INVESTMENT

$257,500

Down Payment
$237,500
Rehab Estimate
$5,750
Closing Costs
$14,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,300

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $237,500
Loan Amount $712,500
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$13,545

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,450

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,626

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6953$2,8004$2,8505$3,450
$3,450
RENT COMPS ANALYSIS
  • 6110 Cortney Ridge Court Las Vegas, NV 5
    • 4 beds 3 baths ∙ 4,252 Sqft ∙ Built 2014 4 beds 3 baths ∙ 4,252 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $0.81
    •  
  • 10209 Dove Row Avenue Las Vegas, NV 1
    • 5 beds 3 baths ∙ 4,422 Sqft ∙ Built 2007 5 beds 3 baths ∙ 4,422 Sqft ∙ Built 2007
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.59
    •  
  • 9409 Kickapoo Avenue Las Vegas, NV 2
    • 5 beds 4 baths ∙ 4,485 Sqft ∙ Built 2006 5 beds 4 baths ∙ 4,485 Sqft ∙ Built 2006
    property image
    LEASED 07/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.60
    •  
  • 9481 Kickapoo Avenue Las Vegas, NV 3
    • 5 beds 4 baths ∙ 4,471 Sqft ∙ Built 2006 5 beds 4 baths ∙ 4,471 Sqft ∙ Built 2006
    property image
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.63
    •  
  • 10478 Mount Owen Las Vegas, NV 4
    • 4 beds 4 baths ∙ 4,402 Sqft ∙ Built 2017 4 beds 4 baths ∙ 4,402 Sqft ∙ Built 2017
    property image
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.65
    •  
PROPERTY LISTING DETAILS
Ivan G Sher
1.702.315.0223
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261442
Last Updated: 01/21/2021
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