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6312 Parsifal Place Las Vegas, NV 89107

3 Beds 2 Baths 1,350 sqft Built 1963

$255,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $188.89
  • 13 Days on Market
  • MLS # : 2256159
  • Updated Date : 12/26/2020 at 02:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,350 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

***NO HOA!!*** Welcome home to escape the Vegas heat in your swimming pool with newly installed cool deck! This single story home is located close to your essential shopping needs. Nestled in a 1960's Vegas bedroom community just blocks away from Pittman Vail Elementary School. You'll enjoy nearby freeway access putting you just minutes from the excitement of the Las Vegas Strip. The low maintenance desert landscaping is certain to keep your cost down and give you more time to lounge by your pool. Come on inside and check out the granite kitchen counters and newly installed bathroom finishes. A spacious family room off the kitchen will host your many family get-togethers. Celebrate coming home!!

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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: Pittman

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $80k296k

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

Neighborhood: Pittman

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9391603

* 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
Vail Pittman Elementary School Primary Regular 616 33 3
Frank F. Garside Junior High School Middle Regular 1,209 52 NA
Western High School High Regular 2,534 112 2

Vail Pittman Elementary School

  • Education Level: Primary
  • # of students: 616
  • # of teachers: 33
3
GreatSchools Rating

Frank F. Garside Junior High School

  • Education Level: Middle
  • # of students: 1,209
  • # of teachers: 52
NA
GreatSchools Rating

Western High School

  • Education Level: High
  • # of students: 2,534
  • # of teachers: 112
2
GreatSchools Rating
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$941
Property Tax -$110
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
$227

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.

$255,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.0%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$941

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

10.08

YEARS SAVED

$43,650

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,451

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3993$1,4504$1,5005$1,650
$1,650
RENT COMPS ANALYSIS
  • 6312 Parsifal Place Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.07
    •  
  • 5905 Shawnee Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,208 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,208 Sqft ∙ Built 1960
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.03
    •  
  • 900 Smith Street #0 Las Vegas, NV 2
    • 3 beds 1 baths ∙ 1,294 Sqft ∙ Built 1979 3 beds 1 baths ∙ 1,294 Sqft ∙ Built 1979
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $1.08
    •  
  • 701 Artie Street Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1964
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.11
    •  
  • 701 Watkins Drive Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,533 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,533 Sqft ∙ Built 1976
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.08
    •  
PROPERTY LISTING DETAILS
Alvin T Burkett
1.702.931.6201
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2256159
Last Updated: 12/26/2020
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