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6360 High Sierra Avenue Las Vegas, NV 89156

3 Beds 3 Baths 1,627 sqft Built 1994

$268,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $164.72
  • 10 Days on Market
  • MLS # : 2266357
  • Updated Date : 02/07/2021 at 04:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,627 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homie Llc

Listing Agent's Description

LOVELY 2 STORY HOME, 3 BEDROOMS 2.5 BATHS, VAULTED CEILING, ALL BEDROOMS UPSTAIRS, MASTER BEDROOM WITH WALK-IN CLOSET (CARPET REPLACED ABOUT 8 MONTHS AGO), DINING/FAMILY ROOM COMBO, OPEN LIVING ROOM WITH VENECIA WALL. 1 BATHROOM DOWNSTAIRS, OPEN FLOOR PLAN, SPACIOUS KITCHEN, PANTRY, LOTS OF NATURAL LIGHT. UPGRADED & COVERED BACKYARD PATIO. FRUIT TREES, PAVERS & MORE.... ***NO HOA***

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Sunburst Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Sunburst Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9211603

* 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
Helen Herr Elementary School Primary Regular 725 37 1
Dr. William H Bob Bailey Middle School Middle Regular 1,202 49 NA
Sunrise Mountain High School High Regular 2,526 113 2

Helen Herr Elementary School

  • Education Level: Primary
  • # of students: 725
  • # of teachers: 37
1
GreatSchools Rating

Dr. William H Bob Bailey Middle School

  • Education Level: Middle
  • # of students: 1,202
  • # of teachers: 49
NA
GreatSchools Rating

Sunrise Mountain High School

  • Education Level: High
  • # of students: 2,526
  • # of teachers: 113
2
GreatSchools Rating
 

$241,200$294,800$268,000

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$931
Property Tax -$151
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
$81

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.

$268,000

PROJECTED PRICE

$1,340

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 10.4%
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$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$76,770

INVESTMENT

$76,770

Down Payment
$67,000
Rehab Estimate
$5,750
Closing Costs
$4,020

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$931

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,000
Loan Amount $201,000
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$22,614

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,436

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,299
1$1,2992$1,3403$1,3504$1,3505$1,595
$1,595
RENT COMPS ANALYSIS
  • 6360 High Sierra Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,627 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,627 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.82
    •  
  • 5967 Stone Hollow Avenue #0 Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,433 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,433 Sqft ∙ Built 2001
    property image
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.91
    •  
  • 6674 Jordan River Drive Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 1997
    property image
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.82
    •  
  • 6045 Stone Hollow Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,649 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,649 Sqft ∙ Built 2001
    property image
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.82
    •  
  • 6292 Rustic Haven Court Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 2001
    property image
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.98
    •  
PROPERTY LISTING DETAILS
Roy P Fune
1.702.879.8359
Homie Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2266357
Last Updated: 02/07/2021
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