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6141 Annville Court North Las Vegas, NV 89081

4 Beds 3 Baths 2,249 sqft Built 2004

$319,900

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $142.24
  • 3 Days on Market
  • MLS # : 2246452
  • Updated Date : 11/06/2020 at 18:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,249 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

THIS SPACIOUS HOME SITS IN A CUL-DE-SAC. LOTS OF ROOM FOR EVERYONE TO ENJOY INCLUDING SEPARATE LIVING ROOM, FAMILY ROOM & LOFT. FAMILY ROOM OPENS TO THE DINING AREA & KITCHEN WITH ISLAND, LOTS OF STORAGE & ALL APPLIANCES ARE INCLUDED. LARGE MASTER SUITE WITH WALK-IN CLOSET, DUAL SINK, SEPARATE TUB & SHOWER. ALL OTHER GUEST ROOMS ARE GOOD SIZED & DOWNSTAIRS BEDROOM HAS IT'S OWN BATH. ALL BEDROOMS & OTHER LIVING AREAS HAS CEILING FANS FOR ADDED ENERGY EFFICIENCY. FRONT YARD HAS PALM TREES, SHRUBS & DESERT LANDSCAPING. BACKYARD HAS COVERED PATIO, MATURE TREES & DESERT LANDSCAPING.

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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: Shadow Springs

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $84k307k

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

Neighborhood: Shadow Springs

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
John Tartan Elementary School Primary Regular 637 37 3
Carroll M Johnston Middle School Middle Regular 1,365 58 NA
Legacy High School High Regular 2,819 119 3

John Tartan Elementary School

  • Education Level: Primary
  • # of students: 637
  • # of teachers: 37
3
GreatSchools Rating

Carroll M Johnston Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 58
NA
GreatSchools Rating

Legacy High School

  • Education Level: High
  • # of students: 2,819
  • # of teachers: 119
3
GreatSchools Rating
 

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

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,180
Property Tax -$262
Property Insurance -$71
Property Management Fees -$119
CASH FLOW
$88

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.

$319,900

PROJECTED PRICE

$1,720

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 10.7%
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$90,524

INVESTMENT

$90,524

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

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% 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

6.67

YEARS SAVED

$30,008

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,698

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6303$1,7204$1,7955$1,895
$1,895
RENT COMPS ANALYSIS
  • 6141 Annville Court North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.76
    •  
  • 5938 Village Loft Street North Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,065 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,065 Sqft ∙ Built 2006
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.73
    •  
  • 3181 Calamus Pointe Avenue North Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,322 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,322 Sqft ∙ Built 2004
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.70
    •  
  • 3057 Austin Pale Avenue North Las Vegas, NV 4
    • 4 beds 4 baths ∙ 2,321 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,321 Sqft ∙ Built 2006
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.77
    •  
  • 6052 Eganridge Court North Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,322 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,322 Sqft ∙ Built 2004
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.82
    •  
PROPERTY LISTING DETAILS
Kaori S Guerra
1.702.496.7372
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2246452
Last Updated: 11/06/2020
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