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6470 Matthew Hills Court Las Vegas, NV 89130

3 Beds 3 Baths 2,527 sqft Built 2017

$550,000

List Price

$2,360

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

December 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $217.65
  • 6 Days on Market
  • MLS # : 2257271
  • Updated Date : 12/22/2020 at 16:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,527 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty Expertise

Listing Agent's Description

MUST SEE!!! Absolutely stunning SINGLE STORY home on a huge lot with RV PARKING and sparkling POOL/SPA!!! Such PRIDE OF OWNERSHIP in this well maintained home. Gorgeous plantation shutters throughout. Gourmet kitchen with beautiful 42" cabinetry, granite countertops, stainless steel appliances, and sprawling island for eat-in kitchen dining. Good sized great room perfect for entertaining. Big master suite opposite 2 other bedrooms. Spa like master bath with custom countertops, sinks, and separate tub and shower. SMART thermostats and garage openers included. Ceiling fans throughout. Backyard is good size with covered patio, firepit, and shed. Pool/spa combo on SMART SYSTEM which you can control on your phone! Ideal North facing backyard. RV parking equipped with hook ups and dump.The list goes on, THIS WON'T LAST!!!

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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: North Cheyenne

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k302k

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

Neighborhood: North Cheyenne

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10011606

* 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
Joseph Neal Steam Academy Primary Regular 688 34 5
Anthony Saville Middle School Middle Regular 1,494 58 NA
Shadow Ridge High School High Regular 2,697 105 6

Joseph Neal Steam Academy

  • Education Level: Primary
  • # of students: 688
  • # of teachers: 34
5
GreatSchools Rating

Anthony Saville Middle School

  • Education Level: Middle
  • # of students: 1,494
  • # of teachers: 58
NA
GreatSchools Rating

Shadow Ridge High School

  • Education Level: High
  • # of students: 2,697
  • # of teachers: 105
6
GreatSchools Rating
 

$495,000$605,000$550,000

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$2,029
Property Tax -$444
Property Insurance -$76
Property Management Fees -$119
CASH FLOW
-$309

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.

$550,000

PROJECTED PRICE

$2,360

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.7%
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$500k$1.0M$1.5M$2.0M

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$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$15,682

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,360

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,091

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,8953$2,0954$2,3605$2,395
$2,395
RENT COMPS ANALYSIS
  • 6470 Matthew Hills Court Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,527 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,527 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $0.93
    •  
  • 6336 Malachite Bay Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,420 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,420 Sqft ∙ Built 1997
    property image
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.78
    •  
  • 5816 Grand Heritage Street Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,345 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,345 Sqft ∙ Built 1998
    property image
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.81
    •  
  • 6432 Somervell Ranch Street Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,700 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,700 Sqft ∙ Built 2009
    property image
    LEASED 07/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.78
    •  
  • 6478 American Eagle Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,539 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,539 Sqft ∙ Built 2014
    property image
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.94
    •  
PROPERTY LISTING DETAILS
Eddie Meese
1.702.217.8012
Realty Expertise
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2257271
Last Updated: 12/22/2020
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