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PROPERTY INFO
FACTS
- Single Family
- Built In 2006
- Price/Sqft : $117.53
- 4 Days on Market
- MLS # : 2247526
- Updated Date : 11/12/2020 at 14:00
CONSTRUCTION
- Beds : 5
- Floor Size : 3,395 sqft
- Baths : 4 full
Listing Agent
Compass Realty & Management, L
Listing Agent's Description
Beautiful 5 bedroom home, with a Den/or 6th Bedroom, 4 Full bathrooms, 3 Car Garage. This spacious home is perfect for a big family. No need to worry about the electric bill as this home has solar. Open floor plan, Large Family room and Kitchen with stainless steel appliances, double built-in oven and ample cabinet space. Master bedroom with a balcony, big walk-in closet, master bath with dual sink and separate tub and shower. Tons of upgrades, covered patio, huge balcony, and a storage shed. This gem is on a corner lot and a must see! Easy access to freeway, dining, entertainment and shopping.
SEE MORE
- 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: Tropical Walnut
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Tropical Walnut
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,930 |
| EXPENSES | Loan Payment | -$1,472 |
| Property Tax | -$369 | |
| Property Insurance | -$93 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$123
|
||
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.
$399,000
PROJECTED PRICE
$1,930
PROJECTED RENT
0.48%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.75% |
| Appreciation Year (1-5) | 8.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.50% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$111,485
LOAN DETAILS
$1,472
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $99,750 |
| Loan Amount | $299,250 |
3.58
YEARS SAVED
$15,349
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,930
LIST RENT -
$0.57
LIST RENT PER SQFT
-
$2,105
COMP ESTIMATED VALUE -
$0.62
COMP AVG. RENT PER SQFT
Comps Range
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6116 Stibor Street North Las Vegas, NV 1
- 5 beds 4 baths ∙ 3,395 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,395 Sqft ∙ Built 2006
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- Rent Per SQFT
- $1,930
- $0.57
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6117 Watermelon Street North Las Vegas, NV 2
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LEASED 06/15/19- Rent
- Rent Per SQFT
- $1,950
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5904 Middle Rock Street North Las Vegas, NV 3
- 5 beds 3 baths ∙ 3,076 Sqft ∙ Built 2018 5 beds 3 baths ∙ 3,076 Sqft ∙ Built 2018
LEASED 09/23/19- Rent
- Rent Per SQFT
- $1,950
- $0.63
-
6113 Kami Street #none North Las Vegas, NV 4
- 5 beds 4 baths ∙ 3,395 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,395 Sqft ∙ Built 2006
LEASED 06/27/20- Rent
- Rent Per SQFT
- $1,950
- $0.57
-
6128 Mott Smith North Las Vegas, NV 5
- 5 beds 4 baths ∙ 3,395 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,395 Sqft ∙ Built 2007
LEASED 07/08/20- Rent
- Rent Per SQFT
- $2,400
- $0.71
PROPERTY LISTING DETAILS
1.702.375.7606
Compass Realty & Management, L
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2247526
Last Updated: 11/12/2020
