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6481 Mission Crest Avenue Las Vegas, NV 89131

4 Beds 2 Baths 2,539 sqft Built 2015

INVESTimate

$465,000

List Price

$2,050

$1,845 - $2,255

Rent Est.

$512,988  ( +10.32%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $183.14
  • 8 Days on Market
  • MLS # : 2222568
  • Updated Date : 08/19/2020 at 12:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,539 sqft
  • Baths : 2 full
Listing Agent

Lusso Residential Sales & Inv

Listing Agent's Description

PROBATE SALE! Single-story home located in the gated community of Eagle Ranch. This property is move in ready and features an open floorplan with 4 Bedrooms, 3 bathrooms and a 3-car garage! The neutral two-tone paint and ceramic flooring are carried throughout the home - kitchen is highlighted with an oversized island, stainless steel appliances and a walk-in pantry. Low maintenance backyard features a large covered patio, mature landscaping, and synthetic turf.

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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: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
 

$418,500$511,500$465,000

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.6M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,716
Property Tax -$337
Property Insurance -$76
HOA -$63
Property Management Fees -$119
CASH FLOW
-$261

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.

$465,000

PROJECTED PRICE

$2,050

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.32%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$128,975

INVESTMENT

$128,975

Down Payment
$116,250
Rehab Estimate
$5,750
Closing Costs
$6,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,716

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $116,250
Loan Amount $348,750
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$13,711

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
  • $0.81

    LIST RENT PER SQFT
  • $2,057

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8953$2,0004$2,0505$2,400
$2,400
RENT COMPS ANALYSIS
  • 6481 Mission Crest Avenue Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,539 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,539 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.81
    •  
  • 6078 Tarrant Ranch Road Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,520 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,520 Sqft ∙ Built 2007
    property image
    LEASED 04/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.73
    •  
  • 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
    •  
  • 5905 Kane Holly Street Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,345 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,345 Sqft ∙ Built 1999
    property image
    LEASED 02/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.85
    •  
  • 6730 Montsouris Park Court North Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,810 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,810 Sqft ∙ Built 2001
    property image
    LEASED 05/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.85
    •  
PROPERTY LISTING DETAILS
Traci L Carzoo
1.702.210.5559
Lusso Residential Sales & Inv
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222568
Last Updated: 08/19/2020
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