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6384 Mint Frost Way Las Vegas, NV 89108

4 Beds 2 Baths 1,902 sqft Built 1990

INVESTimate

$295,000

List Price

$1,490

$1,341 - $1,639

Rent Est.

$329,633  ( +11.74%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1990
  • Price/Sqft : $155.10
  • 4 Days on Market
  • MLS # : 2222791
  • Updated Date : 08/24/2020 at 16:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,902 sqft
  • Baths : 2 full
Listing Agent

The Baird Group, Llc

Listing Agent's Description

ONE OF A KIND! LARGE CUL DE SAC LOT JUST UNDER .25 ACRE; RV/BOAT PARKING; STORAGE SHED; HUGE BACK YARD W/ LARGE COVERED PATIO; 3 CAR GARAGE;LUSH LANDSCAPING AND PAVERS; STORAGE SHED; FORMAL LIVING ROOM/DINING COMBO; KITCHEN HAS LOTS OF CABINETS; ISLAND BAR; LAMINATE WOOD FLOORING; UPGRADED BATH FIXTURES; 4 BEDROOMS; LARGE MASTER BEDROOM WITH WALK IN CLOSET; DUAL VANITY AND SEPARATE TUB & SHOWER IN MASTER BATH; SEPARATE FAMILY ROOM OFF KITCHEN WITH FIREPLACE; ENERGY EFFICIENCY...SOLAR SCREENS; SOLAR PANELS THAT ARE PAID FOR. GREAT BUY!

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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

Zip Code: 89108

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Zip Code: 89108

ZipNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9121603

* 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
Paul E. Culley Elementary School Primary Regular 895 38 2
Frank F. Garside Junior High School Middle Regular 1,209 52 NA
Western High School High Regular 2,534 112 2

Paul E. Culley Elementary School

  • Education Level: Primary
  • # of students: 895
  • # of teachers: 38
2
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
 

$265,500$324,500$295,000

PURCHASE PRICE

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

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-$2.0k$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$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$1,088
Property Tax -$205
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
$13

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.

$295,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.74%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$21,593

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
  • $0.78

    LIST RENT PER SQFT
  • $1,474

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,3953$1,4904$1,4955$1,600
$1,600
RENT COMPS ANALYSIS
  • 6384 Mint Frost Way Las Vegas, NV 3
    • 4 beds 2 baths ∙ 1,902 Sqft ∙ Built 1990 4 beds 2 baths ∙ 1,902 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.78
    •  
  • 6241 Spanish Moss Avenue Las Vegas, NV 1
    • 4 beds 1 baths ∙ 1,849 Sqft ∙ Built 1984 4 beds 1 baths ∙ 1,849 Sqft ∙ Built 1984
    property image
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.74
    •  
  • 6360 Mint Frost Way #- Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,902 Sqft ∙ Built 1990 4 beds 2 baths ∙ 1,902 Sqft ∙ Built 1990
    property image
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.73
    •  
  • 1321 Maplegrove Circle Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,779 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,779 Sqft ∙ Built 1989
    property image
    LEASED 10/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.84
    •  
  • 6313 Mandarin Drive Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,037 Sqft ∙ Built 1990 4 beds 2 baths ∙ 2,037 Sqft ∙ Built 1990
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.79
    •  
PROPERTY LISTING DETAILS
Steven D Baird
1.702.592.9927
The Baird Group, Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222791
Last Updated: 08/24/2020
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