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6232 Downpour Court Las Vegas, NV 89110

4 Beds 2 Baths 2,131 sqft Built 2005

INVESTimate

$349,900

List Price

$1,740

$1,566 - $1,914

Rent Est.

$394,582  ( +12.77%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $164.20
  • 7 Days on Market
  • MLS # : 2223767
  • Updated Date : 08/23/2020 at 13:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,131 sqft
  • Baths : 2 full
Listing Agent

Paragon Life Realty

Listing Agent's Description

Terrific one-story four bedroom in a gated community! Enjoy the green backyard from the almost-new sunroom! Three car garage with storage cabinets and epoxy floor! Spacious master bath with tub, shower and grab bars. Vaulted ceilings. Ceiling fans throughout including back patio. Upgraded kitchen with built in SS oven, stovetop and sink. Plenty of parking and space for friends and family! Come and see today!

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: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9591603

* 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
Kirk Adams Elementary School Primary Regular 509 27 4
Duane Keller Middle School Middle Regular 1,257 56 NA
Eldorado High School High Regular 1,920 76 1

Kirk Adams Elementary School

  • Education Level: Primary
  • # of students: 509
  • # of teachers: 27
4
GreatSchools Rating

Duane Keller Middle School

  • Education Level: Middle
  • # of students: 1,257
  • # of teachers: 56
NA
GreatSchools Rating

Eldorado High School

  • Education Level: High
  • # of students: 1,920
  • # of teachers: 76
1
GreatSchools Rating
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

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$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,291
Property Tax -$246
Property Insurance -$68
HOA -$48
Property Management Fees -$119
CASH FLOW
-$33

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.

$349,900

PROJECTED PRICE

$1,740

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.77%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$20,520

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,492

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4503$1,5004$1,6005$1,740
$1,740
RENT COMPS ANALYSIS
  • 6232 Downpour Court Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,131 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,131 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.82
    •  
  • 6329 Peach Orchard Road Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,989 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,989 Sqft ∙ Built 1997
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.68
    •  
  • 478 Stanley Cup Drive Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,063 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,063 Sqft ∙ Built 1995
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.70
    •  
  • 5973 Spinnaker Point Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,069 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,069 Sqft ∙ Built 2001
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.72
    •  
  • 5958 Samia Court Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,290 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,290 Sqft ∙ Built 2001
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.70
    •  
PROPERTY LISTING DETAILS
Kathrine A Logan
1.702.409.2834
Paragon Life Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223767
Last Updated: 08/23/2020
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