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6329 Hobart Avenue Las Vegas, NV 89107

3 Beds 1 Baths 1,770 sqft Built 1964

$299,900

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $169.44
  • 3 Days on Market
  • MLS # : 2260108
  • Updated Date : 01/08/2021 at 18:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,770 sqft
  • Baths : 1 full
Listing Agent

Pulse Realty Group Llc

Listing Agent's Description

Gorgeous pool with low maintenance yard. Open kitchen to family room. Modern finishes include: quartz, crystal chandeliers (4), granite, waterfall faucets, touchless kitchen faucet/undermount sink. Master has it's own bathroom. 2018 upgrades: pool plaster, variable speed pump, motor, crown molding, quartz counters in Kitchen, granite in bath, exterior of home painted, new laminate in casita. 2019 upgrades: new permitted 3rd bathroom. 2020 upgrades: NEW central AC/Heater, new carpet, pool cool deck, patio concrete paint front and back. Attached Casita/mother-in-law quarters has private bathroom, two private entrances--additional sink/fridge in kitchenette area. 2 50" inch tv's wall mounted. 2 high end washers/dryers (Bosch), 2 refrigerators.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$1,042
Property Tax -$117
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$151

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.

$299,900

PROJECTED PRICE

$1,490

PROJECTED RENT

0.50%

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$1.2M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$32,076

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,553

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4753$1,4904$1,4955$1,765
$1,765
RENT COMPS ANALYSIS
  • 6329 Hobart Avenue Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,770 Sqft ∙ Built 1964 3 beds 1 baths ∙ 1,770 Sqft ∙ Built 1964
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.84
    •  
  • 6225 Rassler Avenue Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,663 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,663 Sqft ∙ Built 1964
    property image
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.81
    •  
  • 6216 Saginaw Drive Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,746 Sqft ∙ Built 1984 4 beds 2 baths ∙ 1,746 Sqft ∙ Built 1984
    property image
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.84
    •  
  • 6221 Factor Las Vegas, NV 4
    • 4 beds 1 baths ∙ 1,770 Sqft ∙ Built 1963 4 beds 1 baths ∙ 1,770 Sqft ∙ Built 1963
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.84
    •  
  • 401 Torrey Pines Drive Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,728 Sqft ∙ Built 1973 4 beds 3 baths ∙ 1,728 Sqft ∙ Built 1973
    property image
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,765
    • $1.02
    •  
PROPERTY LISTING DETAILS
Jessica M Kruze
1.702.526.1002
Pulse Realty Group Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2260108
Last Updated: 01/08/2021
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