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6141 Willow Rock Street Las Vegas, NV 89135

3 Beds 3 Baths 2,962 sqft Built 2018

INVESTimate

$1,085,000

List Price

$3,390

$3,140 - $3,640

Rent Est.

$1,174,187  ( +8.22%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $366.31
  • 7 Days on Market
  • MLS # : 2224337
  • Updated Date : 08/25/2020 at 16:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,962 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

This Highly Upgraded One story, Indigo Model of Toll Brothers is located in the beautiful Gated Community of Ironwood . The property has all the desirable features from sitting in a beautiful court yard with romantic fire place or enjoying the evening in an oasis backyard. The open great room has a nice view of the backyard and mountains, It leads you to the wet bar and gourmet kitchen with extra large island , large Pantry, Stainless steel Appliances, Maple cabinets with Smoke color and much more. It features a Multi-Gen Suite with wet bar, office space ,access to the Court Yard.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Summerlin South

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $119k441k

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

Neighborhood: Summerlin South

ZipNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10762311

* 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
Shelley Berkley Elementary School Primary Unknown NA
Wilbur And Theresa Faiss Middle School Middle Regular 1,409 61 NA
Sierra Vista High School High Regular 2,396 88 4

Shelley Berkley Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Wilbur And Theresa Faiss Middle School

  • Education Level: Middle
  • # of students: 1,409
  • # of teachers: 61
NA
GreatSchools Rating

Sierra Vista High School

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

$976,500$1,193,500$1,085,000

PURCHASE PRICE

$3,051$3,729$3,390

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$20k-$10k$0.0$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,390
EXPENSES Loan Payment -$4,003
Property Tax -$691
Property Insurance -$85
HOA -$92
Property Management Fees -$119
CASH FLOW
-$1,600

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.

$1,085,000

PROJECTED PRICE

$3,390

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.22%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$293,275

INVESTMENT

$293,275

Down Payment
$271,250
Rehab Estimate
$5,750
Closing Costs
$16,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$4,003

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $271,250
Loan Amount $813,750
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$264

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,390

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $2,325

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0503$2,3004$2,4505$3,390
$3,390
RENT COMPS ANALYSIS
  • 6141 Willow Rock Street Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,962 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,962 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $3,390
    • $1.14
    •  
  • 5458 Pinecroft Drive Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,872 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,872 Sqft ∙ Built 2007
    LEASED 10/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.70
    •  
  • 5632 Teton Glacier Street Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,776 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,776 Sqft ∙ Built 2015
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.74
    •  
  • 10402 Ashlar Point Way Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,816 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,816 Sqft ∙ Built 2009
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.82
    •  
  • 5408 Canopy Oak Drive Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 2006
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.88
    •  
PROPERTY LISTING DETAILS
Nini Boudaghian
1.702.281.2242
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224337
Last Updated: 08/25/2020
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