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6333 Arlington Avenue Las Vegas, NV 89107

3 Beds 1 Baths 1,350 sqft Built 1962

INVESTimate

$287,500

List Price

$1,220

$1,098 - $1,342

Rent Est.

$323,323  ( +12.46%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1962
  • Price/Sqft : $212.96
  • 9 Days on Market
  • MLS # : 2223006
  • Updated Date : 08/19/2020 at 13:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,350 sqft
  • Baths : 1 full
Listing Agent

Ameropan Realty And Property

Listing Agent's Description

Freshly remodeled single story pool home with room for RV parking in front just minutes from Summerlin! House has fresh paint inside and out , New HVAC unit , new Flooring , New Privacy fence , Pool re plastered , new kitchen backsplash , lighting and many more to list. Come visit and make this home yours. This one will not last long!

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: Charleston Preservation

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $82k296k

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

Neighborhood: Charleston Preservation

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
O.k. Adcock Elementary School Primary Regular 603 33 5
Frank F. Garside Junior High School Middle Regular 1,209 52 NA
Bonanza High School High Regular 2,003 83 3

O.k. Adcock Elementary School

  • Education Level: Primary
  • # of students: 603
  • # of teachers: 33
5
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
 

$258,750$316,250$287,500

PURCHASE PRICE

$1,098$1,342$1,220

RENT

DOWN PAYMENT
FINANCING

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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,220
EXPENSES Loan Payment -$1,061
Property Tax -$108
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
-$121

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.

$287,500

PROJECTED PRICE

$1,220

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.46%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,938

INVESTMENT

$81,938

Down Payment
$71,875
Rehab Estimate
$5,750
Closing Costs
$4,313

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,061

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,875
Loan Amount $215,625
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$11,060

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,220

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,256

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,2003$1,2204$1,2505$1,250
$1,250
RENT COMPS ANALYSIS
  • 6333 Arlington Avenue Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,350 Sqft ∙ Built 1962 3 beds 1 baths ∙ 1,350 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $1,220
    • $0.90
    •  
  • 6320 Bristol Way Las Vegas, NV 1
    • 3 beds 1 baths ∙ 1,274 Sqft ∙ Built 1961 3 beds 1 baths ∙ 1,274 Sqft ∙ Built 1961
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.94
    •  
  • 210 Mallard Street Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,301 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,301 Sqft ∙ Built 1961
    LEASED 09/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.92
    •  
  • 361 Mallard Street Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,418 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,418 Sqft ∙ Built 1960
    LEASED 10/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.88
    •  
  • 6216 Bannock Las Vegas, NV 5
    • 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
    •  
PROPERTY LISTING DETAILS
Mugurel A Banu
1.818.326.6638
Ameropan Realty And Property
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223006
Last Updated: 08/19/2020
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