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

6238 Cambria Avenue Las Vegas, NV 89108

5 Beds 1 Baths 1,738 sqft Built 1979

$295,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1979
  • Price/Sqft : $169.74
  • 2 Days on Market
  • MLS # : 2243961
  • Updated Date : 11/02/2020 at 09:30
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,738 sqft
  • Baths : 1 full
Listing Agent

Real Properties Management Gro

Listing Agent's Description

FIVE bedrooms~ZERO hoa~COURTYARD~custom KITCHEN~great sized DINING ROOM~seller will consider CARPET ALLOWANCE with list price offer~SOLAR PANELS OWNED, ZERO BALANCE ($400 transfer fee to buyer)~monthly electric $15.00~super BACKYARD with SHED~EASY PEASY MAINTENACE in front and back yard

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Bertha Ronzone Elementary School Primary Regular 953 54 2
J. Harold Brinley Middle School Middle Regular 914 41 NA
Cimarron Memorial High School High Regular 2,541 102 3

Bertha Ronzone Elementary School

  • Education Level: Primary
  • # of students: 953
  • # of teachers: 54
2
GreatSchools Rating

J. Harold Brinley Middle School

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

Cimarron Memorial High School

  • Education Level: High
  • # of students: 2,541
  • # of teachers: 102
3
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$1,088
Property Tax -$131
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
-$50

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.

$295,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.46%

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$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$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$17,062

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,395

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3503$1,4504$1,4655$1,465
$1,465
RENT COMPS ANALYSIS
  • 6238 Cambria Avenue Las Vegas, NV 2
    • 5 beds 1 baths ∙ 1,738 Sqft ∙ Built 1979 5 beds 1 baths ∙ 1,738 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.78
    •  
  • 5821 Bartlett Avenue Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,622 Sqft ∙ Built 1966 4 beds 2 baths ∙ 1,622 Sqft ∙ Built 1966
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.80
    •  
  • 2576 Silver Shadow Drive Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,806 Sqft ∙ Built 1993 4 beds 3 baths ∙ 1,806 Sqft ∙ Built 1993
    LEASED 05/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.80
    •  
  • 2765 Trotwood Lane Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,806 Sqft ∙ Built 1992 4 beds 3 baths ∙ 1,806 Sqft ∙ Built 1992
    LEASED 08/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,465
    • $0.81
    •  
  • 6437 Peachwood Road Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,841 Sqft ∙ Built 1985 4 beds 3 baths ∙ 1,841 Sqft ∙ Built 1985
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,465
    • $0.80
    •  
PROPERTY LISTING DETAILS
Teresa E Chapman
1.702.481.4353
Real Properties Management Gro
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243961
Last Updated: 11/02/2020
BESbswy