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6236 Brittany Way Las Vegas, NV 89107

3 Beds 1 Baths 988 sqft Built 1961

INVESTimate

$199,900

List Price

$1,020

$918 - $1,122

Rent Est.

$224,808  ( +12.46%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1961
  • Price/Sqft : $202.33
  • 2 Days on Market
  • MLS # : 2224249
  • Updated Date : 08/25/2020 at 20:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 988 sqft
  • Baths : 1 full
Listing Agent

Vegas One Realty

Listing Agent's Description

Beautiful home, RV Parking, remodeled In 2017:(Installed NEW Roof, NEW AC UNIT, NEW Laminate flooring , NEW kitchen, NEW full bath, NEW PAINT and NEW stain still Appliances), located is a desirable area near CCNV Community Collage Of Nevada , shopping, dining, major roadways and community parks. WON'T LAST...

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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: Charleston Preservation

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $82k296k

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

Neighborhood: Charleston Preservation

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
Rose Warren Elementary School Primary Regular 652 36 4
Frank F. Garside Junior High School Middle Regular 1,209 52 NA
Bonanza High School High Regular 2,003 83 3

Rose Warren Elementary School

  • Education Level: Primary
  • # of students: 652
  • # of teachers: 36
4
GreatSchools Rating

Frank F. Garside Junior High School

  • Education Level: Middle
  • # of students: 1,209
  • # of teachers: 52
NA
GreatSchools Rating

Bonanza High School

  • Education Level: High
  • # of students: 2,003
  • # of teachers: 83
3
GreatSchools Rating
 

$179,910$219,890$199,900

PURCHASE PRICE

$918$1,122$1,020

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,020
EXPENSES Loan Payment -$738
Property Tax -$91
Property Insurance -$46
Property Management Fees -$119
CASH FLOW
$26

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.

$199,900

PROJECTED PRICE

$1,020

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.46%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$17,206

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,020

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,030

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,020
1$1,0202$1,2503$1,2504$1,2505$1,250
$1,250
RENT COMPS ANALYSIS
  • 6236 Brittany Way Las Vegas, NV 1
    • 3 beds 1 baths ∙ 988 Sqft ∙ Built 1961 3 beds 1 baths ∙ 988 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $1,020
    • $1.03
    •  
  • 6112 Jones Circle Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,180 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,180 Sqft ∙ Built 1962
    LEASED 07/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.06
    •  
  • 5908 Heron Avenue Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,178 Sqft ∙ Built 1961 3 beds 1 baths ∙ 1,178 Sqft ∙ Built 1961
    LEASED 01/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.06
    •  
  • 317 South Mallard Street #0 Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,166 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,166 Sqft ∙ Built 1960
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.07
    •  
  • 6216 Bannock Las Vegas, NV 5
    • 3 beds 1 baths ∙ 1,274 Sqft ∙ Built 1961 3 beds 1 baths ∙ 1,274 Sqft ∙ Built 1961
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.98
    •  
PROPERTY LISTING DETAILS
Arik Shina
1.702.604.3435
Vegas One Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224249
Last Updated: 08/25/2020
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