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6529 Canyon Route Court Las Vegas, NV 89148

3 Beds 3 Baths 2,037 sqft Built 2015

$390,000

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 31, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $191.46
  • 2 Days on Market
  • MLS # : 2265299
  • Updated Date : 01/31/2021 at 04:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,037 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Las Vegas

Listing Agent's Description

No detail of this stunning home was missed. Meticulous curb appeal featuring a paver drive and walkways. Gorgeous interior featuring an open floor plan that's great for entertaining, custom paint, and ceramic tile flooring throughout the downstairs offer a beautiful yet effortless design. The kitchen boasts granite countertops, custom backsplash, an island with bar seating, pantry, and stainless steel appliances. You’ll feel like you're on vacation when you walk out to this amazing backyard with its sparkling pool, spa, covered patio, and grass inlaid concrete. Located in the heart of Southwest... With easy access to hiking at Red Rock, shopping, dining, award-winning golf courses, and freeways, this home is sure to check every box.

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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: Southern Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k329k

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

Neighborhood: Southern Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9691735

* 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
Shelley Berkley Elementary School Primary Unknown NA
Wilbur And Theresa Faiss Middle School Middle Regular 1,409 61 NA
Sierra Vista High School High Regular 2,396 88 4

Shelley Berkley Elementary School

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

Wilbur And Theresa Faiss Middle School

  • Education Level: Middle
  • # of students: 1,409
  • # of teachers: 61
NA
GreatSchools Rating

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

$351,000$429,000$390,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,355
Property Tax -$320
Property Insurance -$67
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 16% of earned rent to cover both maintenance and periods of vacancy.

$390,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.4%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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

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$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,355

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$17,708

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,777

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7503$1,7804$1,8005$1,875
$1,875
RENT COMPS ANALYSIS
  • 6529 Canyon Route Court Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,037 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,037 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.87
    •  
  • 9887 Corliss Court #na Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,996 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,996 Sqft ∙ Built 2016
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.83
    •  
  • 6530 Fog Creek Street Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,037 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,037 Sqft ∙ Built 2015
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.86
    •  
  • 9892 Sunriver Meadows Avenue #- Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,045 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,045 Sqft ∙ Built 2016
    LEASED 01/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.88
    •  
  • 9940 Sunriver Meadows Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,037 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,037 Sqft ∙ Built 2016
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.92
    •  
PROPERTY LISTING DETAILS
Genesis Jameson
1.702.338.9706
Keller Williams Realty Las Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2265299
Last Updated: 01/31/2021
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