Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

6489 Lantana Falls Court Las Vegas, NV 89131

3 Beds 2 Baths 2,759 sqft Built 2003

$615,000

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $222.91
  • 6 Days on Market
  • MLS # : 2263567
  • Updated Date : 01/27/2021 at 20:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,759 sqft
  • Baths : 2 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Dreams really do come true in this beautiful, expansive ranch estate nestled on a cul-de-sac lot*Come vacation in your own backyard with a resort like pool & water feature, above ground spa, BBQ entertaining space & light features to provide elegance. Entertain away in your own private oasis*Enjoy your own fresh fruit from this backyard too*Vaulted ceilings throughout your living spaces create an open airy feel*A kitchen with solid counters, walk in pantry, breakfast bar & a double wall oven provide for ease of cooking for your family*Three spacious bedrooms, a Den & Three living spaces for a family to expand in*Screened in Solar panels with approximately 15 years left on the grandfathered lease, Maintenance included in said lease*Primary Bedroom has separate exterior door for easy access to your above ground spa*RV/Boat parking on this fully paved side yard*Dog friendly with this recently installed high grade turf*Please Come see this very well known DR Horton floor plan*Stunning

SEE MORE

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: Meister Park North

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $119k563k

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

Neighborhood: Meister Park North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10762294

* 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
Kay Carl Elementary School Primary Regular 686 32 4
Anthony Saville Middle School Middle Regular 1,494 58 NA
Shadow Ridge High School High Regular 2,697 105 6

Kay Carl Elementary School

  • Education Level: Primary
  • # of students: 686
  • # of teachers: 32
4
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
 

$553,500$676,500$615,000

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$2,136
Property Tax -$448
Property Insurance -$81
Property Management Fees -$119
CASH FLOW
-$534

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.

$615,000

PROJECTED PRICE

$2,250

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.5%
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-$10k-$5.0k$0.0$5.0k$10k$15k

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$168,725

INVESTMENT

$168,725

Down Payment
$153,750
Rehab Estimate
$5,750
Closing Costs
$9,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,136

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $153,750
Loan Amount $461,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$4,957

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,290

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1003$2,2004$2,2505$2,550
$2,550
RENT COMPS ANALYSIS
  • 6489 Lantana Falls Court Las Vegas, NV 4
    • 3 beds 2 baths ∙ 2,759 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,759 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.82
    •  
  • 6717 Pyracantha Glen Court Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,537 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,537 Sqft ∙ Built 2002
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.83
    •  
  • 6904 Desert Wren Lane North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,714 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,714 Sqft ∙ Built 2006
    LEASED 11/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.77
    •  
  • 6912 Desert Wren Lane North Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,714 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,714 Sqft ∙ Built 2006
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.81
    •  
  • 6601 Sycamore View Street North Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,805 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,805 Sqft ∙ Built 2002
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.91
    •  
PROPERTY LISTING DETAILS
Christina Yeakel
1.702.767.8812
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2263567
Last Updated: 01/27/2021
BESbswy