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6113 Denver Circle Las Vegas, NV 89107

3 Beds 1 Baths 1,274 sqft Built 1962

INVESTimate

$244,000

List Price

$1,160

$1,044 - $1,276

Rent Est.

$270,791  ( +10.98%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1962
  • Price/Sqft : $191.52
  • 7 Days on Market
  • MLS # : 2223611
  • Updated Date : 08/25/2020 at 19:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,274 sqft
  • Baths : 1 full
Listing Agent

Signature Real Estate Group

Listing Agent's Description

Remodeled single story on cul-de-sac and No HOA fees!! Upgraded tile flooring, upgraded ceiling fans in all bedrooms, upgraded custom kitchen cabinets and kitchen back-splash. Bathroom has been renovated with tile shower surrounds to ceiling and new vanity. HUGE master bedroom!! Enjoy backyard barbeque's under the covered patio and large sized backyard! Roof is only about 3 years old, water heater tank about a year old.

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: Pittman

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $80k296k

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

Neighborhood: Pittman

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9391603

* 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
Vail Pittman Elementary School Primary Regular 616 33 3
Frank F. Garside Junior High School Middle Regular 1,209 52 NA
Western High School High Regular 2,534 112 2

Vail Pittman Elementary School

  • Education Level: Primary
  • # of students: 616
  • # of teachers: 33
3
GreatSchools Rating

Frank F. Garside Junior High School

  • Education Level: Middle
  • # of students: 1,209
  • # of teachers: 52
NA
GreatSchools Rating

Western High School

  • Education Level: High
  • # of students: 2,534
  • # of teachers: 112
2
GreatSchools Rating
 

$219,600$268,400$244,000

PURCHASE PRICE

$1,044$1,276$1,160

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,160
EXPENSES Loan Payment -$900
Property Tax -$96
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
-$7

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.

$244,000

PROJECTED PRICE

$1,160

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 10.98%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,410

INVESTMENT

$70,410

Down Payment
$61,000
Rehab Estimate
$5,750
Closing Costs
$3,660

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$900

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,000
Loan Amount $183,000
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$17,435

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,160

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,255

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,160
1$1,1602$1,2003$1,2504$1,2505$1,500
$1,500
RENT COMPS ANALYSIS
  • 6113 Denver Circle Las Vegas, NV 1
    • 3 beds 1 baths ∙ 1,274 Sqft ∙ Built 1962 3 beds 1 baths ∙ 1,274 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $1,160
    • $0.91
    •  
  • 210 Mallard Street Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,301 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,301 Sqft ∙ Built 1961
    LEASED 09/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.92
    •  
  • 5905 Shawnee Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,208 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,208 Sqft ∙ Built 1960
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.03
    •  
  • 5720 Ridgeline Avenue Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 1976
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.88
    •  
  • 701 Artie Street Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1964
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.11
    •  
PROPERTY LISTING DETAILS
Charles Eshnaur
1.702.408.8384
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223611
Last Updated: 08/25/2020
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