Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

6223 Fort Worth Street North Las Vegas, NV 89081

3 Beds 3 Baths 1,644 sqft Built 2006

$282,500

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $171.84
  • 3 Days on Market
  • MLS # : 2265173
  • Updated Date : 01/31/2021 at 00:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,644 sqft
  • Baths : 2 full , 1 half
Listing Agent

Elite Realty

Listing Agent's Description

LIKE NEW!! ABSOLUTE STUNNER WITH MODERN/CONTEMPORARY FINISHES. THE PRIDE OF OWNERSHIP DEFINITELY SHINES THROUGH! VAULTED CEILINGS, OPEN CONCEPT & THE UPGRADES ARE ENDLESS WITH NEW WATERPROOF VINYL FLOORING DOWNSTAIRS & IN ALL WET AREAS. NEW CARPET WITH PREMIUM MEMORY FOAM PAD THROUGHOUT THE SECOND FLOOR AND BEDROOMS. NEW CORDLESS BLINDS, NEW LIGHT FIXTURES, NEW ELONGATED TOILETS, NEW PAINT, UPDATED BASEBOARDS, NEW A/C CONDENSER, NEW VANITY IN THE DOWNSTAIRS BATHROOM, NEW HARDWARE & FIXTURES THROUGHOUT, UPGRADED CABINETS WITH NEW CABINET AND DRAWER PULLS, NEW KOHLER SINGLE BASIN KITCHEN SINK W/NEW FAUCET AND MUCH MORE! NEST THERMOSTAT, NEST DOORBELL & SCHLAGE SMART LOCK STAYS, BONUS! THIS HOME SITS JUST RIGHT ALLOWING AMPLE ROOM IN THE BACKYARD FOR A FUTURE POOL OR YOUR VERY OWN PRIVATE PARADISE CREATION! COME TAKE A LOOK, YOU WON'T BE DISAPPOINTED.

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

Neighborhood: Pecos Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Pecos Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9611603

* 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
 

$254,250$310,750$282,500

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$981
Property Tax -$220
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
$31

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.

$282,500

PROJECTED PRICE

$1,410

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.3%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$80,613

INVESTMENT

$80,613

Down Payment
$70,625
Rehab Estimate
$5,750
Closing Costs
$4,238

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$981

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,625
Loan Amount $211,875
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$18,153

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,406

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,225
1$1,2252$1,2753$1,4004$1,4105$1,500
$1,500
RENT COMPS ANALYSIS
  • 6223 Fort Worth Street North Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,644 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,644 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.86
    •  
  • 3728 Pecos Park Avenue Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 2007
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $0.84
    •  
  • 3781 Hollycroft Drive North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,557 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,557 Sqft ∙ Built 2005
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.82
    •  
  • 3804 Alpine Bypass Avenue North Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,644 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,644 Sqft ∙ Built 2006
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.85
    •  
  • 6312 Fort Worth Street North Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,644 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,644 Sqft ∙ Built 2006
    LEASED 01/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.91
    •  
PROPERTY LISTING DETAILS
Christina V Kinney
1.702.375.5525
Elite Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2265173
Last Updated: 01/31/2021
BESbswy