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6287 Apple Orchard Drive Las Vegas, NV 89142

4 Beds 2 Baths 1,679 sqft Built 1996

$334,999

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $199.52
  • 6 Days on Market
  • MLS # : 2265451
  • Updated Date : 02/27/2021 at 09:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,679 sqft
  • Baths : 2 full
Listing Agent

24 Karat Realty

Listing Agent's Description

Charming single story 4 bedrooms with great open floor plan, vaulted ceilings for an open and airy feel, open living room and dinning room, kitchen with island granite counter top and nook, new stainless steel appliances, plumbing, interior/exterior paint, hardwood/tile/ceiling fans throughout, wait until you see the size of these rooms! Low-maintenance private front & back yard, with large patio for barbecues/entertaining. brand new AC & 50 gallons water heater was installed last year. Home offers majestic views of Sunrise Mountain. Convenient to shopping, freeway, parks and downtown Las Vegas. Hurry, there are very few gems like this available at this price with no HOA!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Las Vegas metro has 61.2% labor force participation rate (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Orchards

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Orchards

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
Daniel Goldfarb Elementary School Primary Regular 838 38 6
Kathleen And Tim Harney Middle School Middle Regular 1,845 71 NA
Las Vegas High School High Regular 3,077 121 4

Daniel Goldfarb Elementary School

  • Education Level: Primary
  • # of students: 838
  • # of teachers: 38
6
GreatSchools Rating

Kathleen And Tim Harney Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 71
NA
GreatSchools Rating

Las Vegas High School

  • Education Level: High
  • # of students: 3,077
  • # of teachers: 121
4
GreatSchools Rating
 

$301,499$368,499$334,999

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$1,164
Property Tax -$181
Property Insurance -$60
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 17% of earned rent to cover both maintenance and periods of vacancy.

$334,999

PROJECTED PRICE

$1,390

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.3%
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-$4.0k-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,164

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,750
Loan Amount $251,249
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$9,812

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,469

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3503$1,3904$1,5005$1,500
$1,500
RENT COMPS ANALYSIS
  • 6287 Apple Orchard Drive Las Vegas, NV 3
    • 4 beds 2 baths ∙ 1,679 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,679 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.83
    •  
  • 5990 Emerald Canyon Drive #home Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,542 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,542 Sqft ∙ Built 1989
    property image
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.84
    •  
  • 2561 Rosy Sunrise Street #n/a Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,521 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,521 Sqft ∙ Built 2001
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.89
    •  
  • 2745 Promontory Vista Place Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2007
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.88
    •  
  • 6202 Elderberry Wine Avenue Las Vegas, NV 5
    • 4 beds 1 baths ∙ 1,679 Sqft ∙ Built 1996 4 beds 1 baths ∙ 1,679 Sqft ∙ Built 1996
    property image
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.89
    •  
PROPERTY LISTING DETAILS
Sokly Lay
1.702.328.8721
24 Karat Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2265451
Last Updated: 02/27/2021
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