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6464 La Palma Parkway Las Vegas, NV 89118

4 Beds 3 Baths 2,481 sqft Built 1989

INVESTimate

$496,200

List Price

$2,050

$1,845 - $2,255

Rent Est.

$545,373  ( +9.91%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1989
  • Price/Sqft : $200.00
  • 8 Days on Market
  • MLS # : 2223548
  • Updated Date : 08/21/2020 at 09:37
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,481 sqft
  • Baths : 3 full
Listing Agent

Simply Vegas

Listing Agent's Description

BEAUTIFUL 4 BD 3 BA REMODELED HOME IN SPRING VALLEY AREA. NO HOA. TILES AND WOOD LIKE FLOOR THROUGHOUT. MAIN FLOOR BEDROOM WITH BATHROOM FAMILY ROOM WITH FIREPLACE,DINING ROOM,LIVING PLAY ROOM, SPACIOUS KITCHEN WITH ISLAND PLUS LAUNDRY ROOM.SECOND FLOOR MASTER SUIT WITH WALKING CLOSET ,2 BEDROOMS WITH SHARED BATH , HUGE LOFT -IN HOME OFFICE. 3 CAR GARAGE WITH NEW WATER HEATER AND WATER SOFTENER .PLENTY OF ROOM IN THIS PRIVATE RESORT STYLE BACKYARD WITH LARGE SIZE SWIMMING POOL , COVERED PATIO FOR ENTERTAINMENT , MINUTES AWAY FROM NEW RAIDERS STADIUM , TOWN SQUAER ,SCHOOLS , SHOPPING CENTERS , FREEWAYS , LAS VEGAS STRIP.

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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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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
Marion B. Earl Elementary School Primary Regular 727 38 6
Grant Sawyer Middle School Middle Regular 1,308 52 NA
Durango High School High Regular 2,302 95 5

Marion B. Earl Elementary School

  • Education Level: Primary
  • # of students: 727
  • # of teachers: 38
6
GreatSchools Rating

Grant Sawyer Middle School

  • Education Level: Middle
  • # of students: 1,308
  • # of teachers: 52
NA
GreatSchools Rating

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$446,580$545,820$496,200

PURCHASE PRICE

$1,845$2,255$2,050

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$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,831
Property Tax -$243
Property Insurance -$75
Property Management Fees -$119
CASH FLOW
-$218

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.

$496,200

PROJECTED PRICE

$2,050

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.91%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$137,243

INVESTMENT

$137,243

Down Payment
$124,050
Rehab Estimate
$5,750
Closing Costs
$7,443

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,831

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,050
Loan Amount $372,150
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$20,352

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,041

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$2,0503$2,1004$2,1005$2,200
$2,200
RENT COMPS ANALYSIS
  • 6464 La Palma Parkway Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,481 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,481 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.83
    •  
  • 6436 Crystal Dew Drive Las Vegas, NV 1
    • 5 beds 2 baths ∙ 2,481 Sqft ∙ Built 1989 5 beds 2 baths ∙ 2,481 Sqft ∙ Built 1989
    LEASED 09/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.71
    •  
  • 5524 Hawley Court Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,510 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,510 Sqft ∙ Built 2001
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.84
    •  
  • 5239 Autumn Sky Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,481 Sqft ∙ Built 1989 4 beds 2 baths ∙ 2,481 Sqft ∙ Built 1989
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.85
    •  
  • 6464 La Palma Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,481 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,481 Sqft ∙ Built 1989
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.89
    •  
PROPERTY LISTING DETAILS
Petar Gavrilov
1.702.372.0287
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223548
Last Updated: 08/21/2020
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