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6290 Mustang Spring Avenue 
Las Vegas, NV
89139
5 Beds 3 Baths 4,340 sqft
Built 2013
INVESTimate
$549,999
List Price
$151,500
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PROPERTY INFO
FACTS
- Built In 2013
- Price/Sqft : $126.73
- 3 Days on Market
- MLS # : 2224477
- Updated Date : 08/24/2020 at 16:57
CONSTRUCTION
- Beds : 5
- Floor Size : 4,340 sqft
- Baths : 3 full
Listing Agent
Investpro Realty
Listing Agent's Description
Beautiful like-new home! the owner spent over $120k in upgrade and hardly lived in it. open floor plan with luxury 24x24 porcelain tile flow through entire 1st floor, upgraded kitchen cabinets to the high ceiling, huge island with granite countertop opens into the large family room/breakfast area. highly upgraded designer back yard with mature landscaping & fully covered oversized patio. large family room on the 2nd floor with recessed lighting.huge master bedroom with walking closet, upgraded double sink & luxury bathtub. memory foam padding with like new carpet.it is a one of a kind condition, move-in ready home, this one won't last long, don't miss it!!!
SEE MORE
- 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)
- As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)
PRICE & RENT TRENDS
Neighborhood: Coronado Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Coronado Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,760 |
| EXPENSES | Loan Payment | -$2,029 |
| Property Tax | -$434 | |
| Property Insurance | -$111 | |
| HOA | -$166 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$99
|
||
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.
$549,999
PROJECTED PRICE
$2,760
PROJECTED RENT
0.50%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.96% |
| Appreciation Year (1-5) | 9.25% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.63% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$151,500
LOAN DETAILS
$2,029
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $137,500 |
| Loan Amount | $412,499 |
4.58
YEARS SAVED
$30,129
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,760
LIST RENT -
$0.64
LIST RENT PER SQFT
-
$2,745
COMP ESTIMATED VALUE -
$0.63
COMP AVG. RENT PER SQFT
Comps Range
-
6290 Mustang Spring Avenue Las Vegas, NV 4
- 5 beds 3 baths ∙ 4,340 Sqft ∙ Built 2013 5 beds 3 baths ∙ 4,340 Sqft ∙ Built 2013
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- Rent Per SQFT
- $2,760
- $0.64
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6435 Screaming Eagle Avenue Las Vegas, NV 1
- 5 beds 2 baths ∙ 4,340 Sqft ∙ Built 2012 5 beds 2 baths ∙ 4,340 Sqft ∙ Built 2012
LEASED 11/18/19- Rent
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- $2,650
- $0.61
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LEASED 06/15/20- Rent
- Rent Per SQFT
- $2,650
- $0.61
-
6461 Mount Eden Las Vegas, NV 3
- 5 beds 3 baths ∙ 4,340 Sqft ∙ Built 2016 5 beds 3 baths ∙ 4,340 Sqft ∙ Built 2016
LEASED 06/01/20- Rent
- Rent Per SQFT
- $2,695
- $0.62
-
6452 Jade Mountain Court Las Vegas, NV 5
- 5 beds 4 baths ∙ 4,147 Sqft ∙ Built 2013 5 beds 4 baths ∙ 4,147 Sqft ∙ Built 2013
LEASED 07/01/20- Rent
- Rent Per SQFT
- $2,875
- $0.69
PROPERTY LISTING DETAILS
1.702.726.0000
Investpro Realty
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2224477
Last Updated: 08/24/2020
