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6221 Carl Avenue Las Vegas, NV 89108

4 Beds 3 Baths 1,844 sqft Built 1978

$245,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1978
  • Price/Sqft : $132.86
  • 4 Days on Market
  • MLS # : 2244363
  • Updated Date : 11/06/2020 at 16:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,844 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Southern Nevada

Listing Agent's Description

This Northwest four bedroom home is priced to sell, with desirable RV parking and no HOA! Laminate floors and a cozy fireplace in the living room will get you ready for the chilly months ahead. Stainless steel appliances and the upgraded washer and dryer stay with the home. Upstairs is carpeted, there is a delighful balcony with French doors off the primary bedroom and the bathrooms have upgraded cabinets. The huge back yard boasts a covered patio and several fruit trees and it is a blank canvas for your imagination! Centrally located close to freeway access and local amenities.

SEE MORE

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

Zip Code: 89108

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Zip Code: 89108

ZipNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9121603

* 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
Paul E. Culley Elementary School Primary Regular 895 38 2
J. Harold Brinley Middle School Middle Regular 914 41 NA
Western High School High Regular 2,534 112 2

Paul E. Culley Elementary School

  • Education Level: Primary
  • # of students: 895
  • # of teachers: 38
2
GreatSchools Rating

J. Harold Brinley Middle School

  • Education Level: Middle
  • # of students: 914
  • # of teachers: 41
NA
GreatSchools Rating

Western High School

  • Education Level: High
  • # of students: 2,534
  • # of teachers: 112
2
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$904
Property Tax -$136
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
$228

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.

$245,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.7%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

10.17

YEARS SAVED

$42,190

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,461

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3953$1,4504$1,4755$1,600
$1,600
RENT COMPS ANALYSIS
  • 6221 Carl Avenue Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,844 Sqft ∙ Built 1978 4 beds 3 baths ∙ 1,844 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.79
    •  
  • 6225 Rassler Avenue Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,663 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,663 Sqft ∙ Built 1964
    property image
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.81
    •  
  • 6360 Mint Frost Way #- Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,902 Sqft ∙ Built 1990 4 beds 2 baths ∙ 1,902 Sqft ∙ Built 1990
    property image
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.73
    •  
  • 6216 Saginaw Drive Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,746 Sqft ∙ Built 1984 4 beds 2 baths ∙ 1,746 Sqft ∙ Built 1984
    property image
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.84
    •  
  • 6313 Mandarin Drive Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,037 Sqft ∙ Built 1990 4 beds 2 baths ∙ 2,037 Sqft ∙ Built 1990
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.79
    •  
PROPERTY LISTING DETAILS
Sandee G Mcduffie
1.702.308.7627
Keller Williams Southern Nevada
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244363
Last Updated: 11/06/2020
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