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6171 Willow Rock Street Las Vegas, NV 89135

3 Beds 4 Baths 2,692 sqft Built 2018

$929,900

List Price

$3,410

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $345.43
  • 7 Days on Market
  • MLS # : 2265909
  • Updated Date : 02/06/2021 at 23:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,692 sqft
  • Baths : 3 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

HIGHLY upgraded single story, Indigo High-Plains, 2018 Toll Brothers home located on a private lot in the desirable gated Ironwood community nestled against the Desert Hills mountain range within walking distance to Bishop Gorman High School. Driving into Ironwood entrance you are met with unforgettable city and mountain views. Desert Contemporary architecture allows spanning Low E windows, filling home with natural light. Wolf and SubZero stainless steel appliances along with built-in wine cooler. Kitchen island and counters designed with Bella Statuario Quartz are top of the line. Solid core 8' interior doors, hand trowel finish throughout, richly articulated window casings, and rainfall shower head add to this high-quality luxury Toll Brothers home. Enormous walk-in shower and timeless tile design in primary bath and laundry. Electrical upgrades include built-in technology center, and quiet fans. Custom backyard landscaping, lighting, and fountain offer peaceful serenity.

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
 

$836,910$1,022,890$929,900

PURCHASE PRICE

$3,069$3,751$3,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,410
EXPENSES Loan Payment -$3,230
Property Tax -$680
Property Insurance -$79
Property Management Fees -$119
CASH FLOW
-$698

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.

$929,900

PROJECTED PRICE

$3,410

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.2%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$252,174

INVESTMENT

$252,174

Down Payment
$232,475
Rehab Estimate
$5,750
Closing Costs
$13,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$3,230

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $232,475
Loan Amount $697,425
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$11,841

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,410

    LIST RENT
  • $1.27

    LIST RENT PER SQFT
  • $2,564

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,4003$2,4504$2,8005$3,410
$3,410
RENT COMPS ANALYSIS
  • 6171 Willow Rock Street Las Vegas, NV 5
    • 3 beds 4 baths ∙ 2,692 Sqft ∙ Built 2018 3 beds 4 baths ∙ 2,692 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $3,410
    • $1.27
    •  
  • 10147 Bonham Court Las Vegas, NV 1
    • 4 beds 4 baths ∙ 2,522 Sqft ∙ Built 2004 4 beds 4 baths ∙ 2,522 Sqft ∙ Built 2004
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.91
    •  
  • 10474 Lyric Arbor Drive Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,593 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,593 Sqft ∙ Built 2008
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.93
    •  
  • 5408 Canopy Oak Drive Las Vegas, NV 3
    • 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
    •  
  • 6000 Andezano Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,564 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,564 Sqft ∙ Built 2017
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.09
    •  
PROPERTY LISTING DETAILS
Denise Savello
1.702.328.3702
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2265909
Last Updated: 02/06/2021
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