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6537 Pinon Pine Way Las Vegas, NV 89108

2 Beds 2 Baths 940 sqft Built 1987

$199,999

List Price

$1,080

$972 - $1.2K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $212.76
  • 3 Days on Market
  • MLS # : 2257872
  • Updated Date : 01/02/2021 at 01:50
CONSTRUCTION
  • Beds : 2
  • Floor Size : 940 sqft
  • Baths : 2 full
Listing Agent

Bottega Real Estate

Listing Agent's Description

Great home in highly desired northwest community! This home is ready for new owner SPACIOUS 2 BEDROOMS, 2 BATH SINGLE STORY* KITCHEN W/ LAMINATE WOOD FLOOR, MICROWAVE, DISHWASHER, FRIDGE OPEN TO GREAT ROOM & DINING AREA*WASHER & DRYER INCLUDED*LARGE REAR YD W/ COVERED PATIO*COMMUNITY POOL*GREAT LOCATION NEAR FREEWAY* HOA MAINTAINS FRONT YARD

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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

Zip Code: 89108

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Zip Code: 89108

ZipNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9121603

* 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
Wing And Lilly Fong Elementary School Primary Regular 867 43 6
J. Harold Brinley Middle School Middle Regular 914 41 NA
Cimarron Memorial High School High Regular 2,541 102 3

Wing And Lilly Fong Elementary School

  • Education Level: Primary
  • # of students: 867
  • # of teachers: 43
6
GreatSchools Rating

J. Harold Brinley Middle School

  • Education Level: Middle
  • # of students: 914
  • # of teachers: 41
NA
GreatSchools Rating

Cimarron Memorial High School

  • Education Level: High
  • # of students: 2,541
  • # of teachers: 102
3
GreatSchools Rating
 

$179,999$219,999$199,999

PURCHASE PRICE

$972$1,188$1,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,080
EXPENSES Loan Payment -$738
Property Tax -$99
Property Insurance -$45
Property Management Fees -$119
CASH FLOW
$79

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.

$199,999

PROJECTED PRICE

$1,080

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.7%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,750

INVESTMENT

$58,750

Down Payment
$50,000
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $50,000
Loan Amount $149,999
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$22,442

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,080

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $806

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$800
1$8002$8403$9004$1,0005$1,080
$1,080
RENT COMPS ANALYSIS
  • 6537 Pinon Pine Way Las Vegas, NV 5
    • 2 beds 2 baths ∙ 940 Sqft ∙ Built 1987 2 beds 2 baths ∙ 940 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,080
    • $1.15
    •  
  • 1912 Lirio #c Las Vegas, NV 1
    • 2 beds 2 baths ∙ 973 Sqft ∙ Built 1984 2 beds 2 baths ∙ 973 Sqft ∙ Built 1984
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $800
    • $0.82
    •  
  • 6237 Bellota Drive #a Las Vegas, NV 2
    • 2 beds 2 baths ∙ 972 Sqft ∙ Built 1984 2 beds 2 baths ∙ 972 Sqft ∙ Built 1984
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $840
    • $0.86
    •  
  • 2451 Rainbow #2088 Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,128 Sqft ∙ Built 1988 2 beds 2 baths ∙ 1,128 Sqft ∙ Built 1988
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $0.80
    •  
  • 6455 Big Pine Way Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,056 Sqft ∙ Built 1984 2 beds 2 baths ∙ 1,056 Sqft ∙ Built 1984
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.95
    •  
PROPERTY LISTING DETAILS
Chris W Fikkert
1.702.743.8886
Bottega Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2257872
Last Updated: 01/02/2021
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