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6164 Cromwell Avenue Las Vegas, NV 89107

4 Beds 1 Baths 1,770 sqft Built 1963

$299,990

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $169.49
  • 3 Days on Market
  • MLS # : 2278225
  • Updated Date : 03/13/2021 at 23:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,770 sqft
  • Baths : 1 full
Listing Agent

Prominent Realty Group Llc

Listing Agent's Description

WOW! - MUST SEE! Just Finished MAJOR Remodeling! - Brand New Roof - All New Exterior Siding - Fresh 2-Tone Paint In & Out - New Upgraded Carpet And Tile Flooring - All New Custom Soft Close Cabinets And Granite Counters Throughout - Stainless Appliances - All New Bathrooms - New Toilets. Tub, Shower, Faucets, Fixtures, Valves, Sinks, Outlets, Switches, Doors & Knobs - New Custom Cordless Window Blinds - New Ceiling Fans In All Rooms - New LED Lighting Throughout - All New Dual Pane Windows - Large Laundry/Utility Room - Huge 4th Bedroom With Separate Entrance - Fully Fenced Backyard - Security Bars And Doors - Low Maintenance Landscape - Garage Storage Room - Extra Wide Driveway + More On Huge Corner Lot In Very Convenient Location - NICE !!

SEE MORE

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: Charleston Preservation

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $82k296k

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

Neighborhood: Charleston Preservation

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
O.k. Adcock Elementary School Primary Regular 603 33 5
Frank F. Garside Junior High School Middle Regular 1,209 52 NA
Bonanza High School High Regular 2,003 83 3

O.k. Adcock Elementary School

  • Education Level: Primary
  • # of students: 603
  • # of teachers: 33
5
GreatSchools Rating

Frank F. Garside Junior High School

  • Education Level: Middle
  • # of students: 1,209
  • # of teachers: 52
NA
GreatSchools Rating

Bonanza High School

  • Education Level: High
  • # of students: 2,003
  • # of teachers: 83
3
GreatSchools Rating
 

$269,991$329,989$299,990

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$1,042
Property Tax -$100
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$28

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.

$299,990

PROJECTED PRICE

$1,350

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.5%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$85,247

INVESTMENT

$85,247

Down Payment
$74,998
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,998
Loan Amount $224,993
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$20,821

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,500

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,340
1$1,3402$1,3503$1,4504$1,4955$1,500
$1,500
RENT COMPS ANALYSIS
  • 6164 Cromwell Avenue Las Vegas, NV 2
    • 4 beds 1 baths ∙ 1,770 Sqft ∙ Built 1963 4 beds 1 baths ∙ 1,770 Sqft ∙ Built 1963
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.76
    •  
  • 6224 Fairwood Avenue Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,770 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,770 Sqft ∙ Built 1963
    property image
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.76
    •  
  • 6201 Dayton Avenue #0 Las Vegas, NV 3
    • 4 beds 2 baths ∙ 1,636 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,636 Sqft ∙ Built 1963
    property image
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.89
    •  
  • 6221 Factor Las Vegas, NV 4
    • 4 beds 1 baths ∙ 1,770 Sqft ∙ Built 1963 4 beds 1 baths ∙ 1,770 Sqft ∙ Built 1963
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.84
    •  
  • 6333 Factor Avenue Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,663 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,663 Sqft ∙ Built 1963
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.90
    •  
PROPERTY LISTING DETAILS
Keri A Mckee
1.702.373.3534
Prominent Realty Group Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2278225
Last Updated: 03/13/2021
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