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6463 Mahogany Peak Avenue Las Vegas, NV 89110

4 Beds 3 Baths 2,390 sqft Built 2001

$349,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $146.03
  • 6 Days on Market
  • MLS # : 2249268
  • Updated Date : 11/21/2020 at 12:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,390 sqft
  • Baths : 3 full
Listing Agent

Royal Diamond Realty

Listing Agent's Description

Beautiful 2 story home with Strip views from back yard and balcony. This beauty has formal living room, dinning room, family room and open kitchen concept. Kitchen has granite counter tops and tile floors, home has tile floors though out first floor and wood laminate upstairs, NO CARPET IN THIS HOME! Home was recently painted and has crown molding through out. Convenient down stair bedroom and full bathroom, family room has a fire place that gives it a fantastic ambiance for cold winter days. Big pool size backyard with side access on both sides for big toys or vehicles. One air conditioning unit replaced new 3 years ago, water heater is one year old. HOA is perimeter landscaping only, Call the HOA for more information on what the rules are for this type of HOA. This fantastic home with Strip views is ready for a new home owner.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9591603

* 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
Eileen Brookman Elementary School Primary Regular 753 35 5
Dr. William H Bob Bailey Middle School Middle Regular 1,202 49 NA
Eldorado High School High Regular 1,920 76 1

Eileen Brookman Elementary School

  • Education Level: Primary
  • # of students: 753
  • # of teachers: 35
5
GreatSchools Rating

Dr. William H Bob Bailey Middle School

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

Eldorado High School

  • Education Level: High
  • # of students: 1,920
  • # of teachers: 76
1
GreatSchools Rating
 

$314,100$383,900$349,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,288
Property Tax -$246
Property Insurance -$73
Property Management Fees -$119
CASH FLOW
$4

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.

$349,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.8%
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$1.4M

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$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,235

INVESTMENT

$98,235

Down Payment
$87,250
Rehab Estimate
$5,750
Closing Costs
$5,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,288

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,250
Loan Amount $261,750
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$24,323

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,751

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6003$1,7304$1,8955$1,930
$1,930
RENT COMPS ANALYSIS
  • 6463 Mahogany Peak Avenue Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,390 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,390 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.72
    •  
  • 1017 Pearl Peak Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,387 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,387 Sqft ∙ Built 2002
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.67
    •  
  • 5958 Samia Court Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,290 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,290 Sqft ∙ Built 2001
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.70
    •  
  • 972 Azure Heights Place Las Vegas, NV 4
    • 4 beds 4 baths ∙ 2,525 Sqft ∙ Built 2002 4 beds 4 baths ∙ 2,525 Sqft ∙ Built 2002
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.75
    •  
  • 6042 Halehaven Las Vegas, NV 5
    • 5 beds 3 baths ∙ 2,380 Sqft ∙ Built 1998 5 beds 3 baths ∙ 2,380 Sqft ∙ Built 1998
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.81
    •  
PROPERTY LISTING DETAILS
Irma Duafala
1.702.308.6432
Royal Diamond Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249268
Last Updated: 11/21/2020
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