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6234 Copper Light Street North Las Vegas, NV 89081

5 Beds 3 Baths 2,123 sqft Built 2005

$314,995

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $148.37
  • 6 Days on Market
  • MLS # : 2258248
  • Updated Date : 12/30/2020 at 15:40
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,123 sqft
  • Baths : 3 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Amazing home that has been highly upgraded. The kitchen offers beautiful quartz counter tops with proline appliances and a marble backsplash. Upgraded flooring throughout the upstairs, fully landscaped backyard with synthetic grass, recently upgraded full bathroom downstairs and much more. This home is a must see!

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: Centennial Azure

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k299k

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

Neighborhood: Centennial Azure

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
John Tartan Elementary School Primary Regular 637 37 3
Carroll M Johnston Middle School Middle Regular 1,365 58 NA
Legacy High School High Regular 2,819 119 3

John Tartan Elementary School

  • Education Level: Primary
  • # of students: 637
  • # of teachers: 37
3
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
 

$283,496$346,495$314,995

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,162
Property Tax -$255
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
$116

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.

$314,995

PROJECTED PRICE

$1,720

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 10.0%
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$0.0$5.0k$10k$15k$20k

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$89,224

INVESTMENT

$89,224

Down Payment
$78,749
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,749
Loan Amount $236,246
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$32,848

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,667

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,7203$1,7504$1,7505$1,795
$1,795
RENT COMPS ANALYSIS
  • 6234 Copper Light Street North Las Vegas, NV 2
    • 5 beds 3 baths ∙ 2,123 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,123 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.81
    •  
  • 6508 Kenya Springs Street North Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,044 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,044 Sqft ∙ Built 2004
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.78
    •  
  • 2617 Torch Avenue North Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,280 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,280 Sqft ∙ Built 2005
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.77
    •  
  • 3021 Austin Pale North Las Vegas, NV 4
    • 5 beds 2 baths ∙ 2,123 Sqft ∙ Built 2006 5 beds 2 baths ∙ 2,123 Sqft ∙ Built 2006
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.82
    •  
  • 3057 Austin Pale Avenue North Las Vegas, NV 5
    • 4 beds 4 baths ∙ 2,321 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,321 Sqft ∙ Built 2006
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.77
    •  
PROPERTY LISTING DETAILS
Adam Naglich
1.702.335.2156
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2258248
Last Updated: 12/30/2020
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