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6499 Lookout Mountain Drive Las Vegas, NV 89110

4 Beds 3 Baths 2,506 sqft Built 1998

INVESTimate

$395,000

List Price

$1,690

$1,521 - $1,859

Rent Est.

$445,441  ( +12.77%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1998
  • Price/Sqft : $157.62
  • 23 Days on Market
  • MLS # : 2219127
  • Updated Date : 08/21/2020 at 02:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,506 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Vip

Listing Agent's Description

Coveted single story, 4 bed/3 bath home with 3 car garage in Sunrise Manor. All interior details and descriptions coming soon. Keep your eye on this one!

SEE MORE

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: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9591603

* 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
Eileen Brookman Elementary School Primary Regular 753 35 5
Dr. William H Bob Bailey Middle School Middle Regular 1,202 49 NA
Eldorado High School High Regular 1,920 76 1

Eileen Brookman Elementary School

  • Education Level: Primary
  • # of students: 753
  • # of teachers: 35
5
GreatSchools Rating

Dr. William H Bob Bailey Middle School

  • Education Level: Middle
  • # of students: 1,202
  • # of teachers: 49
NA
GreatSchools Rating

Eldorado High School

  • Education Level: High
  • # of students: 1,920
  • # of teachers: 76
1
GreatSchools Rating
 

$355,500$434,500$395,000

PURCHASE PRICE

$1,521$1,859$1,690

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 $1,690
EXPENSES Loan Payment -$1,457
Property Tax -$254
Property Insurance -$76
Property Management Fees -$119
CASH FLOW
-$216

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$395,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.77%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,457

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$10,336

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,754

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,5953$1,6004$1,6905$1,745
$1,745
RENT COMPS ANALYSIS
  • 6499 Lookout Mountain Drive Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,506 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,506 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.67
    •  
  • 5955 Bushra Court Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,290 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,290 Sqft ∙ Built 2000
    LEASED 04/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.69
    •  
  • 1017 Pearl Peak Street Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,387 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,387 Sqft ∙ Built 2002
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.67
    •  
  • 5958 Samia Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,290 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,290 Sqft ∙ Built 2001
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.70
    •  
  • 6531 Lucky Boy Drive Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,349 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,349 Sqft ∙ Built 1997
    LEASED 06/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.74
    •  
PROPERTY LISTING DETAILS
Daniel Valenzuela
1.702.416.8789
Keller Williams Vip
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2219127
Last Updated: 08/21/2020
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