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6525 Grand Concourse Street Las Vegas, NV 89166

3 Beds 3 Baths 2,709 sqft Built 2012

INVESTimate

$362,500

List Price

$1,800

$1,620 - $1,980

Rent Est.

$379,973  ( +4.82%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2012
  • Price/Sqft : $133.81
  • 7 Days on Market
  • MLS # : 2223763
  • Updated Date : 08/22/2020 at 20:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,709 sqft
  • Baths : 2 full , 1 half
Listing Agent

L & S Property Management

Listing Agent's Description

Check out this beautiful home nestled in a gated Providence community. Three beds plus an amazing third floor loft with plenty of space! The house comes equipped with Solar panels, a state of the art water softener, as well as a doggy-door. The large Master Bedroom also comes with its own cozy balcony. This property also includes an incredible covered patio with a fully landscaped backyard just off the open kitchen/family room! Enjoy walking around the gated neighborhood, or enjoy a short walk to the beautiful nearby Knickerbocker Park.

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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: Auburn and Bradford at Providence

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k395k

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

Neighborhood: Auburn and Bradford at Providence

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600165017001750Rent in $10761758

* 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
Kenneth Divich Elementary Primary Unknown NA
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Centennial High School High Regular 3,055 124 6

Kenneth Divich Elementary

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Edmundo Eddie Escobedo Sr Middle School

  • Education Level: Middle
  • # of students: 1,171
  • # of teachers: 47
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$326,250$398,750$362,500

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,337
Property Tax -$332
Property Insurance -$80
Property Management Fees -$119
CASH FLOW
-$68

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.

$362,500

PROJECTED PRICE

$1,800

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 4.82%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,813

INVESTMENT

$101,813

Down Payment
$90,625
Rehab Estimate
$5,750
Closing Costs
$5,438

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,337

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $90,625
Loan Amount $271,875
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$20,644

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $2,025

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8003$1,9504$2,3755$2,400
$2,400
RENT COMPS ANALYSIS
  • 6525 Grand Concourse Street Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,709 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,709 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.66
    •  
  • 10738 Leatherstocking Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,443 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,443 Sqft ∙ Built 2008
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.70
    •  
  • 10613 Lomaland Avenue Las Vegas, NV 3
    • 4 beds 4 baths ∙ 2,868 Sqft ∙ Built 2013 4 beds 4 baths ∙ 2,868 Sqft ∙ Built 2013
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.68
    •  
  • 6615 Brooklyn Heights Street Las Vegas, NV 4
    • 4 beds 2 baths ∙ 3,031 Sqft ∙ Built 2009 4 beds 2 baths ∙ 3,031 Sqft ∙ Built 2009
    LEASED 08/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.78
    •  
  • 6631 Chinatown Street Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,908 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,908 Sqft ∙ Built 2007
    LEASED 08/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.83
    •  
PROPERTY LISTING DETAILS
Jennifer Frey
1.814.450.6335
L & S Property Management
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223763
Last Updated: 08/22/2020
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