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6154 Apple Orchard Drive Las Vegas, NV 89142

4 Beds 3 Baths 1,761 sqft Built 1996

$294,900

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $167.46
  • 6 Days on Market
  • MLS # : 2258828
  • Updated Date : 01/06/2021 at 07:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,761 sqft
  • Baths : 3 full
Listing Agent

Hoopes Team Realty, Inc

Listing Agent's Description

SOUGHT AFTER NEIGHBORHOOD, THE ORCHARDS! NO HOA FEES! THIS 4 BEDROOM HOME HAS A BEDROOM AND A FULL BATH DOWNSTAIRS, SPACIOUS MASTER BEDROOM AND 2 ADDITIONAL BEDROOMS UPSTAIRS WITH JACK AND JILL BATH. THIS HOME FEATURES 2STORY CEILINGS IN LIVING ROOM FOR AN OPEN FEEL. FRESHLY PAINTED 1ST FLOOR. WHITE APPLIANCES/REFRIGERATOR, WASHER AND DRYER INCLUDED. NICE FIREPLACE IN THE FAMILY RM FOR A COZY FEEL. WATER SOFTNER IN GARAGE IS INCLUDED BUT IS NOT CONNECTED. COVERED 18X12 PATIO IN BACKYARD, PLAYHOUSE INCLUDED IN SALE. VIEWS OF BIGHORN RIDGE FROM BACKYARD. SUNSCREENS ON ALL WINDOWS.

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MARKET HIGHLIGHTS

  • 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: 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
 

$265,410$324,390$294,900

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$1,024
Property Tax -$177
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$139

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.

$294,900

PROJECTED PRICE

$1,520

PROJECTED RENT

0.52%

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,899

INVESTMENT

$83,899

Down Payment
$73,725
Rehab Estimate
$5,750
Closing Costs
$4,424

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,024

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,725
Loan Amount $221,175
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$29,452

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,497

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,5003$1,5204$1,5955$1,650
$1,650
RENT COMPS ANALYSIS
  • 6154 Apple Orchard Drive Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,761 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,761 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.86
    •  
  • 6461 Za Zu Pitts #103 Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,685 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,685 Sqft ∙ Built 2007
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.80
    •  
  • 2745 Promontory Vista Place Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2007
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.88
    •  
  • 5983 Clover Canyon Lane Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,886 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,886 Sqft ∙ Built 2004
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.85
    •  
  • 5918 Sleepy Fawn Drive #n/a Las Vegas, NV 5
    • 5 beds 3 baths ∙ 1,886 Sqft ∙ Built 2005 5 beds 3 baths ∙ 1,886 Sqft ∙ Built 2005
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.87
    •  
PROPERTY LISTING DETAILS
Mara Navarro-pry
1.702.768.8576
Hoopes Team Realty, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2258828
Last Updated: 01/06/2021
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