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6329 Oakey Boulevard Las Vegas, NV 89146

4 Beds 2 Baths 1,210 sqft Built 1976

$279,000

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $230.58
  • 3 Days on Market
  • MLS # : 2258660
  • Updated Date : 01/02/2021 at 17:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,210 sqft
  • Baths : 2 full
Listing Agent

Simply Vegas

Listing Agent's Description

9,650 SQFT lot! 2 master bedrooms, cross street from CSN

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
 

$251,100$306,900$279,000

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$1,029
Property Tax -$137
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
$83

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.

$279,000

PROJECTED PRICE

$1,420

PROJECTED RENT

0.51%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,685

INVESTMENT

$79,685

Down Payment
$69,750
Rehab Estimate
$5,750
Closing Costs
$4,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,750
Loan Amount $209,250
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$31,722

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $1,159

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$925
1$9252$1,1953$1,2504$1,2955$1,420
$1,420
RENT COMPS ANALYSIS
  • 6329 Oakey Boulevard Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,210 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,210 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $1.17
    •  
  • 1337 Kari Lee Court #a Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,012 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,012 Sqft ∙ Built 1986
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $925
    • $0.91
    •  
  • 6717 Charleston Boulevard #1 Las Vegas, NV 2
    • 3 beds 1 baths ∙ 1,204 Sqft ∙ Built 1986 3 beds 1 baths ∙ 1,204 Sqft ∙ Built 1986
    LEASED 07/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.99
    •  
  • 6216 Bannock Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,274 Sqft ∙ Built 1961 3 beds 1 baths ∙ 1,274 Sqft ∙ Built 1961
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.98
    •  
  • 6225 Vista Verde #n/a Las Vegas, NV 4
    • 3 beds 1 baths ∙ 1,365 Sqft ∙ Built 1977 3 beds 1 baths ∙ 1,365 Sqft ∙ Built 1977
    LEASED 11/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.95
    •  
PROPERTY LISTING DETAILS
Franklin X Liu
1.702.742.2373
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2258660
Last Updated: 01/02/2021
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