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6516 Casada Way Las Vegas, NV 89107

3 Beds 3 Baths 988 sqft Built 1964

$235,000

List Price

$1,040

$936 - $1.1K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1964
  • Price/Sqft : $237.85
  • 2 Days on Market
  • MLS # : 2244330
  • Updated Date : 11/02/2020 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 988 sqft
  • Baths : 3 full
Listing Agent

Alliant Real Estate Services

Listing Agent's Description

Charming single story with 3 bedrooms, 2 bathrooms in main house. Garage converted into a beautiful studio with full bathroom with own separate entrance. Square footage including garage conversion is approximately 1,274sf. Upgraded kitchen with granite counter tops , tile throughout, large yard with covered patio and shed. Well taken care of, clean and ready to move in. MUST SEE!

SEE MORE

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: Torrey Pines Preservation

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $73k296k

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

Neighborhood: Torrey Pines Preservation

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8501603

* 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
Rose Warren Elementary School Primary Regular 652 36 4
Frank F. Garside Junior High School Middle Regular 1,209 52 NA
Bonanza High School High Regular 2,003 83 3

Rose Warren Elementary School

  • Education Level: Primary
  • # of students: 652
  • # of teachers: 36
4
GreatSchools Rating

Frank F. Garside Junior High School

  • Education Level: Middle
  • # of students: 1,209
  • # of teachers: 52
NA
GreatSchools Rating

Bonanza High School

  • Education Level: High
  • # of students: 2,003
  • # of teachers: 83
3
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$936$1,144$1,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,040
EXPENSES Loan Payment -$867
Property Tax -$88
Property Insurance -$46
Property Management Fees -$119
CASH FLOW
-$80

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.

$235,000

PROJECTED PRICE

$1,040

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 13.5%
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-$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$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$10,761

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,040

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,062

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,040
1$1,0402$1,2503$1,2504$1,2755$1,330
$1,330
RENT COMPS ANALYSIS
  • 6516 Casada Way Las Vegas, NV 1
    • 3 beds 3 baths ∙ 988 Sqft ∙ Built 1964 3 beds 3 baths ∙ 988 Sqft ∙ Built 1964
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,040
    • $1.05
    •  
  • 6112 Jones Circle Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,180 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,180 Sqft ∙ Built 1962
    property image
    LEASED 07/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.06
    •  
  • 317 South Mallard Street #0 Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,166 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,166 Sqft ∙ Built 1960
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.07
    •  
  • 5908 Gipsy Avenue Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,193 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,193 Sqft ∙ Built 1960
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $1.07
    •  
  • 1053 Neil Armstrong Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,214 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,214 Sqft ∙ Built 1983
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $1.10
    •  
PROPERTY LISTING DETAILS
Gloria Salas
1.702.238.9069
Alliant Real Estate Services
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244330
Last Updated: 11/02/2020
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