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6242 Sandford Creek Street Las Vegas, NV 89148

3 Beds 3 Baths 2,662 sqft Built 2017

$598,800

List Price

$2,560

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $224.94
  • 5 Days on Market
  • MLS # : 2270702
  • Updated Date : 02/26/2021 at 00:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,662 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Exquisite Single Story in SW gated community. This home promotes many Upgrades. 3 bedroom, 2.5 bath 3 car garage.2662 sq ft. 6098 sq ft lot. Featuring Absolutely Amazing Gourmet Kitchen with SS appliance, custom Backsplash, Incredible Granite Island with additional cabinets under Breakfast Bar! The Owner's Suite is separate from Secondary Bedrooms that feature a Jack and Jill bathroom. The backyard presents a Cover patio with ceiling fan, Low Maintenance Landscaping with Fountain and sprinklers and so much more. Conveniently close to shopping and restaurants!

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

Neighborhood: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k339k

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

Neighborhood: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10551829

* 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
Lucille Rogers Elementary School Primary Regular 775 43 9
Grant Sawyer Middle School Middle Regular 1,308 52 NA
Durango High School High Regular 2,302 95 5

Lucille Rogers Elementary School

  • Education Level: Primary
  • # of students: 775
  • # of teachers: 43
9
GreatSchools Rating

Grant Sawyer Middle School

  • Education Level: Middle
  • # of students: 1,308
  • # of teachers: 52
NA
GreatSchools Rating

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$538,920$658,680$598,800

PURCHASE PRICE

$2,304$2,816$2,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,560
EXPENSES Loan Payment -$2,080
Property Tax -$416
Property Insurance -$79
Property Management Fees -$119
CASH FLOW
-$134

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$598,800

PROJECTED PRICE

$2,560

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,432

INVESTMENT

$164,432

Down Payment
$149,700
Rehab Estimate
$5,750
Closing Costs
$8,982

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,080

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $149,700
Loan Amount $449,100
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$26,992

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,560

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,056

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9503$1,9954$1,9955$2,560
$2,560
RENT COMPS ANALYSIS
  • 6242 Sandford Creek Street Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,662 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,662 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,560
    • $0.96
    •  
  • 6707 Stonetrace Street Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,466 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,466 Sqft ∙ Built 2018
    property image
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.79
    •  
  • 6423 Pochman Mesa Las Vegas, NV 2
    • 4 beds 4 baths ∙ 2,470 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,470 Sqft ∙ Built 2016
    property image
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.79
    •  
  • 6176 Jennings Cove Court Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,776 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,776 Sqft ∙ Built 2016
    property image
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.72
    •  
  • 6195 Jennings Cove Court Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,521 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,521 Sqft ∙ Built 2016
    property image
    LEASED 01/21/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.79
    •  
PROPERTY LISTING DETAILS
Carol J Carr
1.702.605.5332
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2270702
Last Updated: 02/26/2021
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