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6127 Sierra Mist Avenue Las Vegas, NV 89139

3 Beds 3 Baths 2,051 sqft Built 2004

$350,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $170.65
  • 7 Days on Market
  • MLS # : 2256871
  • Updated Date : 12/21/2020 at 19:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,051 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Charming & beautiful corner lot home in Lamplight Square community. New interior paint , warm wood flooring in the entire home including stairs and loft. Fireplace in the family room. Custom master closet. Great kitchen with granite countertop and island. Loft upstairs gives you a second family room to enjoy. This home is a gem in the SW!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Coronado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $119k352k

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

Neighborhood: Coronado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9561622

* 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
Mark L. Fine Elementary School Primary Regular 1,001 51 6
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Sierra Vista High School High Regular 2,396 88 4

Mark L. Fine Elementary School

  • Education Level: Primary
  • # of students: 1,001
  • # of teachers: 51
6
GreatSchools Rating

Lawrence And Heidi Canarelli Middle School

  • Education Level: Middle
  • # of students: 1,802
  • # of teachers: 70
NA
GreatSchools Rating

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,291
Property Tax -$219
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
-$47

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.

$350,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.3%
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$0.0$5.0k$10k$15k

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$23,210

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,661

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,5503$1,5504$1,6505$1,695
$1,695
RENT COMPS ANALYSIS
  • 6127 Sierra Mist Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,051 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,051 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.80
    •  
  • 8307 Ivy Leaf Street Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,897 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,897 Sqft ∙ Built 2004
    property image
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.80
    •  
  • 8327 Ivy Leaf Street Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,897 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,897 Sqft ∙ Built 2004
    property image
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.82
    •  
  • 6173 Glimmering Light Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,051 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,051 Sqft ∙ Built 2005
    property image
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.76
    •  
  • 6172 Glimmering Light Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,982 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,982 Sqft ∙ Built 2005
    property image
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.86
    •  
PROPERTY LISTING DETAILS
Angelina G Santos
1.702.325.6559
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2256871
Last Updated: 12/21/2020
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