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6508 First View Avenue Las Vegas, NV 89142

3 Beds 2 Baths 1,405 sqft Built 2002

$275,000

List Price

$1,220

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

December 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $195.73
  • 7 Days on Market
  • MLS # : 2257582
  • Updated Date : 12/28/2020 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,405 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

This Las Vegas one-story cul-de-sac home offers a two-car garage.

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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: 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
Mervin Iverson Elementary School Primary Regular 870 43 7
Kathleen And Tim Harney Middle School Middle Regular 1,845 71 NA
Las Vegas High School High Regular 3,077 121 4

Mervin Iverson Elementary School

  • Education Level: Primary
  • # of students: 870
  • # of teachers: 43
7
GreatSchools Rating

Kathleen And Tim Harney Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 71
NA
GreatSchools Rating

Las Vegas High School

  • Education Level: High
  • # of students: 3,077
  • # of teachers: 121
4
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,098$1,342$1,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,220
EXPENSES Loan Payment -$1,015
Property Tax -$173
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
-$141

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.

$275,000

PROJECTED PRICE

$1,220

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.8%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$8,186

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,220

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,250

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2203$1,3004$1,3505$1,395
$1,395
RENT COMPS ANALYSIS
  • 6508 First View Avenue Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,405 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,405 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,220
    • $0.87
    •  
  • 2520 Olay Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,352 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,352 Sqft ∙ Built 2005
    LEASED 02/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.89
    •  
  • 2633 Still Light Street Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 2002
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.86
    •  
  • 2561 Rosy Sunrise Street #n/a Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,521 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,521 Sqft ∙ Built 2001
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.89
    •  
  • 2621 Still Light Street Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,521 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,521 Sqft ∙ Built 2002
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.92
    •  
PROPERTY LISTING DETAILS
Alexis M Rogers
1.702.710.3787
Opendoor Brokerage Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2257582
Last Updated: 12/28/2020
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