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6401 Eldorado Las Vegas, NV 89139

3 Beds 2 Baths 1,692 sqft Built 2003

$338,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $199.76
  • 3 Days on Market
  • MLS # : 2270013
  • Updated Date : 02/13/2021 at 08:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,692 sqft
  • Baths : 1 full , 1 half
Listing Agent

Nevada Real Estate Corp

Listing Agent's Description

NICE SPACIOUS, ALL TILES DOWNSTAIRS, TWO-TONE COLOR, DEN DOWNSTAIRS, PATIO COVERED, WALKING DISTANCE TO ELEMENTARY SCHOOL, NEAR SHOPPING CENTERS AND STRIPS

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: Coronado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $119k352k

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

Neighborhood: Coronado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9561622

* 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
Tony Alamo Elementary School Primary Regular 961 51 7
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Sierra Vista High School High Regular 2,396 88 4

Tony Alamo Elementary School

  • Education Level: Primary
  • # of students: 961
  • # of teachers: 51
7
GreatSchools Rating

Lawrence And Heidi Canarelli Middle School

  • Education Level: Middle
  • # of students: 1,802
  • # of teachers: 70
NA
GreatSchools Rating

Sierra Vista High School

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

$304,200$371,800$338,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$1,174
Property Tax -$206
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
-$109

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.

$338,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.3%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,320

INVESTMENT

$95,320

Down Payment
$84,500
Rehab Estimate
$5,750
Closing Costs
$5,070

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,174

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,500
Loan Amount $253,500
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$13,355

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,523

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4503$1,4504$1,5505$1,650
$1,650
RENT COMPS ANALYSIS
  • 6401 Eldorado Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.86
    •  
  • 6467 Eldorado Lane Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,659 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,659 Sqft ∙ Built 2002
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.84
    •  
  • 6466 Eldorado Pines Avenue Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,714 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,714 Sqft ∙ Built 2002
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.85
    •  
  • 7594 Wentworth Springs Court #- Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,659 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,659 Sqft ∙ Built 2003
    LEASED 12/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.93
    •  
  • 6360 Eldorado Pines Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,692 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,692 Sqft ∙ Built 2003
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.98
    •  
PROPERTY LISTING DETAILS
Amy Yu
1.702.338.3818
Nevada Real Estate Corp
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2270013
Last Updated: 02/13/2021
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