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6320 Bluejay Way Las Vegas, NV 89146

4 Beds 2 Baths 2,361 sqft Built 1978

$389,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $164.76
  • 7 Days on Market
  • MLS # : 2257970
  • Updated Date : 12/31/2020 at 05:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,361 sqft
  • Baths : 2 full
Listing Agent

Elite Realty

Listing Agent's Description

Grand 4 bedroom home with a delightful pool near Community College, shopping centers, restaurants, schools, 95, I-15 freeway, and more. The kitchen is gorgeous with quartz counter-tops, stainless steel appliances, modern hood, and a spectacular view of the back yard/pool. Cozy fireplace at family room. New water heater. The family room looks out to the pool as well. Exquisite backyard to enjoy and relax. Several parks in the area. No HOA’s! This home is waiting for you!

SEE MORE

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: Canyon Gate

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k384k

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

Neighborhood: Canyon Gate

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10762045

* 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
Doris Hancock Elementary School Primary Regular 552 29 2
Frank F. Garside Junior High School Middle Regular 1,209 52 NA
Bonanza High School High Regular 2,003 83 3

Doris Hancock Elementary School

  • Education Level: Primary
  • # of students: 552
  • # of teachers: 29
2
GreatSchools Rating

Frank F. Garside Junior High School

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

Bonanza High School

  • Education Level: High
  • # of students: 2,003
  • # of teachers: 83
3
GreatSchools Rating
 

$350,100$427,900$389,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,435
Property Tax -$205
Property Insurance -$73
Property Management Fees -$119
CASH FLOW
$18

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.

$389,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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$20k

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$108,835

INVESTMENT

$108,835

Down Payment
$97,250
Rehab Estimate
$5,750
Closing Costs
$5,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,435

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,250
Loan Amount $291,750
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$33,230

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,842

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,421
1$1,4212$1,6503$1,8504$1,8505$2,295
$2,295
RENT COMPS ANALYSIS
  • 6320 Bluejay Way Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,361 Sqft ∙ Built 1978 4 beds 2 baths ∙ 2,361 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.78
    •  
  • 6121 Evergreen Avenue Las Vegas, NV 1
    • 3 beds 2 baths ∙ 2,212 Sqft ∙ Built 1960 3 beds 2 baths ∙ 2,212 Sqft ∙ Built 1960
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,421
    • $0.64
    •  
  • 6605 Vicuna Drive Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,026 Sqft ∙ Built 1985 4 beds 2 baths ∙ 2,026 Sqft ∙ Built 1985
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.81
    •  
  • 2660 Rosanna Street Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,322 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,322 Sqft ∙ Built 1994
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.80
    •  
  • 6512 Peppermill Drive Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,650 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,650 Sqft ∙ Built 1985
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.87
    •  
PROPERTY LISTING DETAILS
Gricelda Leon
1.702.250.6614
Elite Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2257970
Last Updated: 12/31/2020
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