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6309 Sterling Cap Street North Las Vegas, NV 89081

3 Beds 3 Baths 1,960 sqft Built 2005

$325,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $165.82
  • 6 Days on Market
  • MLS # : 2272221
  • Updated Date : 02/27/2021 at 02:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,960 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

Turn-key 3 bed, 2.5 bath home with OWNED solar!! The first floor features a living and dining room, family room, half bath, and laundry complete with high efficiency LG washer and dryer, and wood-look plank flooring throughout. The kitchen includes a side by side fridge, double oven gas range, granite counters, and breakfast bar. Upstairs, discover a spacious loft, two secondary bedrooms that share a full bath with privacy door to the shower area, and double sinks. The master bedroom boasts a walk-in closet and en suite bath with garden tub, separate shower, and dual sinks. Enjoy the large private yard with Alumawood covered patio, shed, and lawn with sprinkler system, ready to be reseeded. Current seller pays minimum electric bill and receives a credit for excess energy! Two car garage has Kinetico water softener and conditioner. Just a short walk from the neighborhood park and playground!

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: Pecos Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Pecos Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9611603

* 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
D.l. Dusty Dickens Elementary School Primary Regular 753 43 6
Carroll M Johnston Middle School Middle Regular 1,365 58 NA
Legacy High School High Regular 2,819 119 3

D.l. Dusty Dickens Elementary School

  • Education Level: Primary
  • # of students: 753
  • # of teachers: 43
6
GreatSchools Rating

Carroll M Johnston Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 58
NA
GreatSchools Rating

Legacy High School

  • Education Level: High
  • # of students: 2,819
  • # of teachers: 119
3
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,129
Property Tax -$239
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
-$2

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.

$325,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.3%
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$1.4M

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$17,955

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,558

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4953$1,5504$1,6005$1,650
$1,650
RENT COMPS ANALYSIS
  • 6309 Sterling Cap Street North Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,960 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,960 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.79
    •  
  • 3721 Gretchen Court North Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,908 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,908 Sqft ∙ Built 2004
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.76
    •  
  • 6248 Sterling Cap Street North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,960 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,960 Sqft ∙ Built 2005
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.76
    •  
  • 6324 Legend Falls Street North Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,960 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,960 Sqft ∙ Built 2005
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.82
    •  
  • 6243 Sterling Cap Street North Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,960 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,960 Sqft ∙ Built 2005
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.84
    •  
PROPERTY LISTING DETAILS
Carol T Crowder
1.702.727.3505
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2272221
Last Updated: 02/27/2021
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