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6491 Joshua Peak Avenue Las Vegas, NV 89141

3 Beds 2 Baths 2,043 sqft Built 2019

$495,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $242.29
  • 3 Days on Market
  • MLS # : 2278125
  • Updated Date : 03/14/2021 at 03:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,043 sqft
  • Baths : 1 full , 1 half
Listing Agent

King Realty Group

Listing Agent's Description

At the foothills of Southern Highlands, Las Vegas, an ideally located double-storey Richmond home, 15 mins from the strip, at a cul-de-sac, adjacent to mountains offering privacy & unobstructed views from living area, bedrooms & yard. Beautifully landscaped yard, accented by pool with waterfall by Edgewater with both double & single glass doors leading to the backyard & pool. Covered patio with BBQ stub, great for family and entertaining. Loft with large closet can easily be converted into a 4th bedroom. Self-closing maple kitchen cabinets, epoxy floor covering in double garage, You will fall in love with open floor plan & location emanating with light & airiness all around!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
Charles And Phyllis Frias Elementary School Primary Regular 802 41 10
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Charles And Phyllis Frias Elementary School

  • Education Level: Primary
  • # of students: 802
  • # of teachers: 41
10
GreatSchools Rating

Lois And Jerry Tarkanian Middle School

  • Education Level: Middle
  • # of students: 1,739
  • # of teachers: 71
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$445,500$544,500$495,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,719
Property Tax -$310
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
-$595

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.

$495,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$136,925

INVESTMENT

$136,925

Down Payment
$123,750
Rehab Estimate
$5,750
Closing Costs
$7,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,719

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $123,750
Loan Amount $371,250
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$769

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,655

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,6203$1,7454$1,7505$1,795
$1,795
RENT COMPS ANALYSIS
  • 6491 Joshua Peak Avenue Las Vegas, NV 2
    • 3 beds 2 baths ∙ 2,043 Sqft ∙ Built 2019 3 beds 2 baths ∙ 2,043 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.79
    •  
  • 6584 Horatio Court Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,853 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,853 Sqft ∙ Built 2007
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.78
    •  
  • 11226 Dolcetto Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,235 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,235 Sqft ∙ Built 2003
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.78
    •  
  • 6592 Horatio Court Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,179 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,179 Sqft ∙ Built 2007
    property image
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.80
    •  
  • 6449 Earl Pike Court Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,043 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,043 Sqft ∙ Built 2018
    property image
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.88
    •  
PROPERTY LISTING DETAILS
Eleny Rose
1.702.265.8957
King Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2278125
Last Updated: 03/14/2021
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