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6113 Soft Springs Avenue Las Vegas, NV 89130

3 Beds 2 Baths 1,228 sqft Built 2000

$319,900

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2000
  • Price/Sqft : $260.50
  • 10 Days on Market
  • MLS # : 2242348
  • Updated Date : 10/31/2020 at 09:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,228 sqft
  • Baths : 2 full
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Stunning Single Story Pool Home in NW Gated Community! Tastefully upgraded with attention to detail. This immaculate home features: Slate No Fingerprint Stainless Steal Appliances, Granite Countertops, Updated Lighting and Fans, Tile throughout with carpet in the bedrooms. The Large backyard has a beautiful low maintenance, saltwater pool, a covered patio with fans and lights. Perfect for outdoor entertaining, and a Four Car Driveway. The Exterior of the Home has been recently Painted. Area amenities include: Close proximity to schools, Newer infrastructure with Restaurants, and Shopping of your choosing. Close to the 215 and 95 for easy access to anywhere in the valley. Just Bring your Bathing Suit and Your Personal Touch!

SEE MORE

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: The Springs

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $92k296k

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

Neighborhood: The Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29009501000105011001150120012501300135014001450150015501600Rent in $8841606

* 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
 

$287,910$351,890$319,900

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$1,180
Property Tax -$209
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
-$239

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.

$319,900

PROJECTED PRICE

$1,320

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 12.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$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$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,180

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$6,416

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,105

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,2453$1,2954$1,3205$1,350
$1,350
RENT COMPS ANALYSIS
  • 6113 Soft Springs Avenue Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $1.07
    •  
  • 5901 Kentlands Street #. Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 2000
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.87
    •  
  • 5955 Nuevo Leon Street #lot 12 North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,416 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,416 Sqft ∙ Built 2005
    LEASED 05/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,245
    • $0.88
    •  
  • 5965 Palmilla Street #12 North Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,416 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,416 Sqft ∙ Built 2005
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.91
    •  
  • 5008 Light Springs Ave. Avenue North Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,437 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,437 Sqft ∙ Built 1999
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.94
    •  
PROPERTY LISTING DETAILS
Marlene E Collins
1.443.838.3177
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2242348
Last Updated: 10/31/2020
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