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6363 Pinion Jay Street Las Vegas, NV 89148

5 Beds 3 Baths 3,223 sqft Built 2004

$462,500

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $143.50
  • 3 Days on Market
  • MLS # : 2253518
  • Updated Date : 12/04/2020 at 15:30
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,223 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Amazing Southwest LOCATION! Primary Bedroom Down?...YES and it has dual walk in closets, double vanities. 4 Additional Bedrooms?...YES, All oversized, 3 with walk-in closets and one Jack & Jill with private vanities. Loft?...YES! Plantation Shutters throughout? YES!!  NO HOA? YES!!!! All new laminate floors, paint, trim, baseboards, carpet and tile.  There has NOT been a surface left untouched in this home! Approx 1 mile to Bishop Gorman High School!

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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: Southern Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k329k

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

Neighborhood: Southern Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9691735

* 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
Shelley Berkley Elementary School Primary Unknown NA
Wilbur And Theresa Faiss Middle School Middle Regular 1,409 61 NA
Sierra Vista High School High Regular 2,396 88 4

Shelley Berkley Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Wilbur And Theresa Faiss Middle School

  • Education Level: Middle
  • # of students: 1,409
  • # of teachers: 61
NA
GreatSchools Rating

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

$416,250$508,750$462,500

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,706
Property Tax -$319
Property Insurance -$90
Property Management Fees -$119
CASH FLOW
-$274

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.

$462,500

PROJECTED PRICE

$1,960

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.4%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$128,313

INVESTMENT

$128,313

Down Payment
$115,625
Rehab Estimate
$5,750
Closing Costs
$6,938

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,706

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $115,625
Loan Amount $346,875
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$12,670

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.61

    LIST RENT PER SQFT
  • $1,982

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9003$1,9504$1,9605$2,200
$2,200
RENT COMPS ANALYSIS
  • 6363 Pinion Jay Street Las Vegas, NV 4
    • 5 beds 3 baths ∙ 3,223 Sqft ∙ Built 2004 5 beds 3 baths ∙ 3,223 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.61
    •  
  • 9660 Rolling Thunder Las Vegas, NV 1
    • 4 beds 1 baths ∙ 3,178 Sqft ∙ Built 2005 4 beds 1 baths ∙ 3,178 Sqft ∙ Built 2005
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.57
    •  
  • 9609 Rolling Thunder Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 3,178 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,178 Sqft ∙ Built 2005
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.60
    •  
  • 9651 Hawk Cliff Avenue Las Vegas, NV 3
    • 4 beds 2 baths ∙ 3,178 Sqft ∙ Built 2003 4 beds 2 baths ∙ 3,178 Sqft ∙ Built 2003
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.61
    •  
  • 9566 Rolling Thunder Avenue #9566 Las Vegas, NV 5
    • 5 beds 4 baths ∙ 3,223 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,223 Sqft ∙ Built 2005
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.68
    •  
PROPERTY LISTING DETAILS
Mark M Minelli
1.702.683.2450
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2253518
Last Updated: 12/04/2020
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