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6139 Apple Orchard Drive Las Vegas, NV 89142

4 Beds 3 Baths 1,940 sqft Built 1996

$319,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $164.43
  • 5 Days on Market
  • MLS # : 2262345
  • Updated Date : 01/29/2021 at 10:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,940 sqft
  • Baths : 3 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Beautifully maintained home located near Hollywood Regional Park. This magnificent home features two bedrooms on the first floor and a full bathroom with an additional three bedrooms upstairs and two full bathrooms. Numerous windows allow for plenty of sunshine on a sunny day. The family room includes a warm welcoming fireplace along with vaulted ceilings. Call to schedule your home viewing today!!

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: Orchards

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Orchards

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
Daniel Goldfarb Elementary School Primary Regular 838 38 6
Kathleen And Tim Harney Middle School Middle Regular 1,845 71 NA
Las Vegas High School High Regular 3,077 121 4

Daniel Goldfarb Elementary School

  • Education Level: Primary
  • # of students: 838
  • # of teachers: 38
6
GreatSchools Rating

Kathleen And Tim Harney Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 71
NA
GreatSchools Rating

Las Vegas High School

  • Education Level: High
  • # of students: 3,077
  • # of teachers: 121
4
GreatSchools Rating
 

$287,100$350,900$319,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,108
Property Tax -$183
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
$85

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.

$319,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.3%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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$90,285

INVESTMENT

$90,285

Down Payment
$79,750
Rehab Estimate
$5,750
Closing Costs
$4,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,108

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,750
Loan Amount $239,250
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$25,866

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,513

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3003$1,5004$1,5605$1,800
$1,800
RENT COMPS ANALYSIS
  • 6139 Apple Orchard Drive Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,940 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,940 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.80
    •  
  • 5993 Autumn Harvest Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,756 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,756 Sqft ∙ Built 1998
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.74
    •  
  • 2565 Madre Grande Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,719 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,719 Sqft ∙ Built 2005
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.76
    •  
  • 2837 Murray Hill Lane Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,801 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,801 Sqft ∙ Built 2012
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.83
    •  
  • 1206 Mint Julep Way Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,279 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,279 Sqft ∙ Built 1996
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.79
    •  
PROPERTY LISTING DETAILS
Ricardo Batista
1.702.279.7305
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2262345
Last Updated: 01/29/2021
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