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6456 Casamar Street North Las Vegas, NV 89086

4 Beds 3 Baths 2,611 sqft Built 2004

$329,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $126.01
  • 7 Days on Market
  • MLS # : 2242542
  • Updated Date : 11/01/2020 at 07:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,611 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Las Vegas

Listing Agent's Description

Resting comfortably across the community park sits this well designed 2 story home with plenty of grand finishes & modern touches. Downstairs offers polished flooring throughout with a separate living room & family room. The kitchen has an island with granite counter tops surrounded by stainless steel appliances with a private laundry room to the side. Upstairs is complimented with new vinyl plank flooring & offers the primary bedroom with 2 additional guest bedrooms. The back yard is large enough to create your own paradise.

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: Portico West

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $84k349k

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

Neighborhood: Portico West

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
Don E. Hayden Elementary School Primary Regular 702 38 6
Carroll M Johnston Middle School Middle Regular 1,365 58 NA
Legacy High School High Regular 2,819 119 3

Don E. Hayden Elementary School

  • Education Level: Primary
  • # of students: 702
  • # of teachers: 38
6
GreatSchools Rating

Carroll M Johnston Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 58
NA
GreatSchools Rating

Legacy High School

  • Education Level: High
  • # of students: 2,819
  • # of teachers: 119
3
GreatSchools Rating
 

$296,100$361,900$329,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$1,214
Property Tax -$263
Property Insurance -$78
Property Management Fees -$119
CASH FLOW
-$163

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.

$329,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.6%
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$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$92,935

INVESTMENT

$92,935

Down Payment
$82,250
Rehab Estimate
$5,750
Closing Costs
$4,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,214

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,250
Loan Amount $246,750
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$9,204

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.58

    LIST RENT PER SQFT
  • $1,638

    COMP ESTIMATED VALUE
  • $0.63

    COMP AVG. RENT PER SQFT
Comps Range
$1,510
1$1,5102$1,5503$1,6504$1,6855$1,695
$1,695
RENT COMPS ANALYSIS
  • 6456 Casamar Street North Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,611 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,611 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.58
    •  
  • 6425 Casamar Street North Las Vegas, NV 2
    • 3 beds 2 baths ∙ 2,486 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,486 Sqft ∙ Built 2004
    property image
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.62
    •  
  • 6536 Casamar Street North Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,761 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,761 Sqft ∙ Built 2004
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.60
    •  
  • 2924 Covatta Court North Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,761 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,761 Sqft ∙ Built 2004
    property image
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $0.61
    •  
  • 6541 Casamar North Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,486 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,486 Sqft ∙ Built 2004
    property image
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.68
    •  
PROPERTY LISTING DETAILS
Britney E Gaitan
1.702.858.5650
Keller Williams Realty Las Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2242542
Last Updated: 11/01/2020
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