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6240 Barkstone Avenue Las Vegas, NV 89108

4 Beds 2 Baths 1,918 sqft Built 1989

$292,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $152.24
  • 5 Days on Market
  • MLS # : 2257311
  • Updated Date : 12/23/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,918 sqft
  • Baths : 2 full
Listing Agent

Empire Realty & Management

Listing Agent's Description

Welcome to the market an awesome opportunity with this Northwest Vegas, single story gem! Home features a two car garage, two full bathrooms, and a converted den for a 4th bedroom! Walk into an open floor plan, with separated living room/family room, and awesome three-way gas fireplace. Spacious kitchen with a ton of cabinet space! Choose to eat at the bar countertop, or in the dining area! The primary bedroom/bathroom is fit for a king/queen! Including a walk-in closet, and separate shower/tub combo! Desert landscaped backyard allows you to use your imagination after closing! No HOA! Conveniently located to all of your highway, shopping, and entertainment needs! Come check this out while this one lasts!

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

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
Berkley Bunker Elementary School Primary Regular 746 39 4
Irwin And Susan Molasky Junior High School Middle Regular 1,131 50 NA
Cimarron Memorial High School High Regular 2,541 102 3

Berkley Bunker Elementary School

  • Education Level: Primary
  • # of students: 746
  • # of teachers: 39
4
GreatSchools Rating

Irwin And Susan Molasky Junior High School

  • Education Level: Middle
  • # of students: 1,131
  • # of teachers: 50
NA
GreatSchools Rating

Cimarron Memorial High School

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

$262,800$321,200$292,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,077
Property Tax -$200
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
$179

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.

$292,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.56%

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$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$83,130

INVESTMENT

$83,130

Down Payment
$73,000
Rehab Estimate
$5,750
Closing Costs
$4,380

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,000
Loan Amount $219,000
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$38,988

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,602

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4653$1,5504$1,6405$1,640
$1,640
RENT COMPS ANALYSIS
  • 6240 Barkstone Avenue Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,918 Sqft ∙ Built 1989 4 beds 2 baths ∙ 1,918 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.86
    •  
  • 3444 Trilogy Drive Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,761 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,761 Sqft ∙ Built 1998
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.82
    •  
  • 2765 Trotwood Lane Las Vegas, NV 2
    • 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
    •  
  • 2633 Island Brook Drive Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,836 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,836 Sqft ∙ Built 1990
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.84
    •  
  • 6665 Coral Springs Circle Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,887 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,887 Sqft ∙ Built 1990
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.87
    •  
PROPERTY LISTING DETAILS
Jason Ross
1.702.274.1597
Empire Realty & Management
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2257311
Last Updated: 12/23/2020
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