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6220 Barkis Court Las Vegas, NV 89130

5 Beds 3 Baths 3,078 sqft Built 2003

$444,999

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

December 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $144.57
  • 5 Days on Market
  • MLS # : 2258251
  • Updated Date : 12/31/2020 at 01:17
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,078 sqft
  • Baths : 3 full
Listing Agent

Nevada Realty

Listing Agent's Description

This Beautiful Home with Gorgeous front curb appeal located on a desired cul-de-sac features 3,078 sqft of open floor plan. Dramatic entrance with vaulted ceilings leading to a large formal living and dining room area. 5 large bedrooms, 3 full bathrooms, eat in kitchen, granite counter tops, tile floors throughout main floor, 1 bedroom located downstairs and downstairs bathroom offers the ideal convenience of an access door leading to spacious backyard. RV PARKING! with plenty of room for all your TOYS! This home will not last long!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Copperfield

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $119k530k

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

Neighborhood: Copperfield

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10762205

* 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
Joseph Neal Steam Academy Primary Regular 688 34 5
Anthony Saville Middle School Middle Regular 1,494 58 NA
Shadow Ridge High School High Regular 2,697 105 6

Joseph Neal Steam Academy

  • Education Level: Primary
  • # of students: 688
  • # of teachers: 34
5
GreatSchools Rating

Anthony Saville Middle School

  • Education Level: Middle
  • # of students: 1,494
  • # of teachers: 58
NA
GreatSchools Rating

Shadow Ridge High School

  • Education Level: High
  • # of students: 2,697
  • # of teachers: 105
6
GreatSchools Rating
 

$400,499$489,499$444,999

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$1,642
Property Tax -$338
Property Insurance -$87
Property Management Fees -$119
CASH FLOW
$74

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.

$444,999

PROJECTED PRICE

$2,260

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.1%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$123,675

INVESTMENT

$123,675

Down Payment
$111,250
Rehab Estimate
$5,750
Closing Costs
$6,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,642

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $111,250
Loan Amount $333,749
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$43,086

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,247

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,2603$2,3004$2,3505$2,500
$2,500
RENT COMPS ANALYSIS
  • 6220 Barkis Court Las Vegas, NV 2
    • 5 beds 3 baths ∙ 3,078 Sqft ∙ Built 2003 5 beds 3 baths ∙ 3,078 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $0.73
    •  
  • 6608 Manzanita Glen Avenue Las Vegas, NV 1
    • 5 beds 3 baths ∙ 3,248 Sqft ∙ Built 2008 5 beds 3 baths ∙ 3,248 Sqft ∙ Built 2008
    property image
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.68
    •  
  • 6509 Taylor Creek Avenue Las Vegas, NV 3
    • 5 beds 4 baths ∙ 3,248 Sqft ∙ Built 2008 5 beds 4 baths ∙ 3,248 Sqft ∙ Built 2008
    property image
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.71
    •  
  • 5514 Moonlight Garden Street Las Vegas, NV 4
    • 5 beds 4 baths ∙ 3,248 Sqft ∙ Built 2008 5 beds 4 baths ∙ 3,248 Sqft ∙ Built 2008
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.72
    •  
  • 6000 Blowing Bellows Street #0 Las Vegas, NV 5
    • 4 beds 2 baths ∙ 3,091 Sqft ∙ Built 1997 4 beds 2 baths ∙ 3,091 Sqft ∙ Built 1997
    property image
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.81
    •  
PROPERTY LISTING DETAILS
Anna M Hernandez
1.702.376.1896
Nevada Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2258251
Last Updated: 12/31/2020
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