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6205 Grace Mountain Street Las Vegas, NV 89115

4 Beds 3 Baths 2,229 sqft Built 2007

$339,999

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $152.53
  • 2 Days on Market
  • MLS # : 2248365
  • Updated Date : 11/14/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,229 sqft
  • Baths : 2 full , 1 half
Listing Agent

Signature Real Estate Group

Listing Agent's Description

This is the one you've been waiting for. Walk into a beautiful spacious home with high ceiling's the moment you open the door. Gorgeous laminate wood flooring through out. Massive kitchen with center island & dual staircase makes for a perfect floor plan. Low maintenance backyard, extremely well kept home. Incredible curb appeal & corner lot. You don't want to miss this one!

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: Novak and Azure

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $111k296k

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

Neighborhood: Novak and Azure

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10291606

* 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
D.l. Dusty Dickens Elementary School Primary Regular 753 43 6
Carroll M Johnston Middle School Middle Regular 1,365 58 NA
Legacy High School High Regular 2,819 119 3

D.l. Dusty Dickens Elementary School

  • Education Level: Primary
  • # of students: 753
  • # of teachers: 43
6
GreatSchools Rating

Carroll M Johnston Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 58
NA
GreatSchools Rating

Legacy High School

  • Education Level: High
  • # of students: 2,819
  • # of teachers: 119
3
GreatSchools Rating
 

$305,999$373,999$339,999

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$1,254
Property Tax -$274
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
-$247

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.

$339,999

PROJECTED PRICE

$1,470

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 13.6%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $254,999
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$6,556

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,594

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,470
1$1,4702$1,6003$1,6504$1,6995$1,700
$1,700
RENT COMPS ANALYSIS
  • 6205 Grace Mountain Street Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,229 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,229 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.66
    •  
  • 4513 Silverado Sage Avenue North Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,229 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,229 Sqft ∙ Built 2006
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.72
    •  
  • 5837 Middle Rock Street North Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,232 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,232 Sqft ∙ Built 2018
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.74
    •  
  • 5852 Fox Hair Street North Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,419 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,419 Sqft ∙ Built 2018
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.70
    •  
  • 5917 Galway Bay Street North Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,419 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,419 Sqft ∙ Built 2016
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.70
    •  
PROPERTY LISTING DETAILS
Juan E Rubio
1.702.913.3044
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2248365
Last Updated: 11/14/2020
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