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6248 Desert Lavender Avenue Las Vegas, NV 89141

4 Beds 3 Baths 2,039 sqft Built 2005

$320,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $156.94
  • 4 Days on Market
  • MLS # : 2244218
  • Updated Date : 11/06/2020 at 08:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,039 sqft
  • Baths : 2 full , 1 half
Listing Agent

Nicklin Prop Mgmt & Inv Inc

Listing Agent's Description

WHAT A GREAT FLOOR PLAN! DOWNSTAIRS YOU’LL FIND A REALLY BIG GREAT ROOM-BIG ENOUGH FOR A DINING AREA IF YOU WANT. OPEN KITCHEN WITH A PANTRY AND RECESSED LIGHTING AND A BREAKFAST BAR FOR CASUAL DINING. THERE IS ALSO A SEPARATE DEN. THE WASHER AND DRYER IN THE LAUNDRY ROOM ARE INCLUDED! ALL BEDROOMS ARE UPSTAIRS. AND THERE IS A SEPARATE LOFT! WAIT UNTIL YOU SEE HOW LARGE THE MASTER BEDROOM IS! THE FULL MASTER BATH IS VERY ROOMY AND THERE IS A WALK-IN CLOSET. TWO CAR GARAGE WITH HOUSE ENTRY. SITUATED ON A NICE SIZED LOT WITH MATURE LANDSCAPING. YOUR NEW HOME IS MOVE-IN READY – PROFESSIONALLY PANITED AND CLEANED JUST DAYS AGO. BUYER TO VERIFY ALL INFORMATION AND SCHOOLS.

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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: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
Aldeane Comito Ries Elementary School Primary Regular 975 57 4
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Aldeane Comito Ries Elementary School

  • Education Level: Primary
  • # of students: 975
  • # of teachers: 57
4
GreatSchools Rating

Lois And Jerry Tarkanian Middle School

  • Education Level: Middle
  • # of students: 1,739
  • # of teachers: 71
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,181
Property Tax -$216
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
-$42

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.

$320,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
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

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$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$21,688

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,652

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,540
1$1,5402$1,5503$1,5994$1,6505$1,760
$1,760
RENT COMPS ANALYSIS
  • 6248 Desert Lavender Avenue Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,039 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,039 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.76
    •  
  • 6270 Canebrake Court Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,009 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,009 Sqft ∙ Built 2005
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.77
    •  
  • 6264 Canebrake Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,009 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,009 Sqft ∙ Built 2005
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.80
    •  
  • 10116 Desert Trees Street Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,039 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,039 Sqft ∙ Built 2006
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.81
    •  
  • 6237 Desert Lavender Las Vegas, NV 5
    • 5 beds 3 baths ∙ 2,039 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,039 Sqft ∙ Built 2005
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.86
    •  
PROPERTY LISTING DETAILS
Patricia Annis
1.702.533.2949
Nicklin Prop Mgmt & Inv Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244218
Last Updated: 11/06/2020
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