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6184 Pine Banks Court Las Vegas, NV 89141

3 Beds 3 Baths 1,740 sqft Built 2008

INVESTimate

$314,000

List Price

$1,400

$1,260 - $1,540

Rent Est.

$344,741  ( +9.79%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2008
  • Price/Sqft : $180.46
  • 3 Days on Market
  • MLS # : 2224245
  • Updated Date : 08/24/2020 at 14:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,740 sqft
  • Baths : 2 full , 1 half
Listing Agent

Foster Realty

Listing Agent's Description

Beautiful open floor plan on quiet cul-de-sac in a small gated community at the edge of Southern Highlands. Large family area, dining & kitchen downstairs. Kitchen renovation includes butcher-block island, quartz counter tops, and stainless steel appliances. Downstairs includes upgraded flooring - laminate hard wood and large tile. Upstairs consists of 3 bedrooms, a multi-purpose loft, and full bath. Open the French doors that lead to a spacious master bedroom w/ large walk-in closet and en-suite master bathroom. Master bath has double vanities, garden bathtub and separate shower. Never walk downstairs with laundry again! Convenient laundry area upstairs. Spend evenings relaxing on the covered patio next to the fire pit or BBQ'ing in the landscaped backyard. On those hot summer days, swim in the community pool. House equipped w/ water softener & alarm system. 2" faux blinds throughout. 2 tone. Park and schools within walking distance. No SIDS/LIDS. Act Now! This one won't last!!

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: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
Charles And Phyllis Frias Elementary School Primary Regular 802 41 10
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Charles And Phyllis Frias Elementary School

  • Education Level: Primary
  • # of students: 802
  • # of teachers: 41
10
GreatSchools Rating

Lois And Jerry Tarkanian Middle School

  • Education Level: Middle
  • # of students: 1,739
  • # of teachers: 71
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$282,600$345,400$314,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$1,159
Property Tax -$229
Property Insurance -$61
HOA -$92
Property Management Fees -$119
CASH FLOW
-$259

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.

$314,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.79%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$88,960

INVESTMENT

$88,960

Down Payment
$78,500
Rehab Estimate
$5,750
Closing Costs
$4,710

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,159

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,500
Loan Amount $235,500
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$4,522

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,409

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4253$1,4504$1,5005$1,550
$1,550
RENT COMPS ANALYSIS
  • 6184 Pine Banks Court Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,740 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,740 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.80
    •  
  • 10669 Allegrini Drive Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,849 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,849 Sqft ∙ Built 2006
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.77
    •  
  • 6245 West Levi Avenue #0 Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,903 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,903 Sqft ∙ Built 2006
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.76
    •  
  • 10686 Allegrini Drive #0 Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,733 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,733 Sqft ∙ Built 2006
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.87
    •  
  • 5987 Allanche Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,837 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,837 Sqft ∙ Built 2004
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.84
    •  
PROPERTY LISTING DETAILS
Lora T Hendrickson
1.702.235.2140
Foster Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224245
Last Updated: 08/24/2020
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