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6540 Smokey Pine Way Las Vegas, NV 89108

2 Beds 2 Baths 940 sqft Built 1987

$189,900

List Price

$940

$846 - $1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $202.02
  • 4 Days on Market
  • MLS # : 2277523
  • Updated Date : 03/13/2021 at 20:46
CONSTRUCTION
  • Beds : 2
  • Floor Size : 940 sqft
  • Baths : 2 full
Listing Agent

Era Brokers Consolidated

Listing Agent's Description

Great opportunity to own a home in the desirable NW community of Smoke Ranch Pines! This home features 2 bedrooms, 2 bathrooms, vaulted ceilings, a gas fireplace, and ceiling fans throughout. The spacious backyard has a shed and covered patio. Washer & dryer included. There is a community pool and the HOA maintains the front yard landscaping. Great location near the freeway, shops & restaurants! Don't miss out on this one!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$170,910$208,890$189,900

PURCHASE PRICE

$846$1,034$940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $940
EXPENSES Loan Payment -$660
Property Tax -$99
Property Insurance -$45
Property Management Fees -$119
CASH FLOW
$17

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.

$189,900

PROJECTED PRICE

$940

PROJECTED RENT

0.49%

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

PROJECTED ANNUAL CASH FLOW

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

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$56,074

INVESTMENT

$56,074

Down Payment
$47,475
Rehab Estimate
$5,750
Closing Costs
$2,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$660

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $47,475
Loan Amount $142,425
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$12,623

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $940

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $780

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$800
1$8002$9003$9404$950
$950
RENT COMPS ANALYSIS
  • 6540 Smokey Pine Way Las Vegas, NV 3
    • 2 beds 2 baths ∙ 940 Sqft ∙ Built 1987 2 beds 2 baths ∙ 940 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $940
    • $1.00
    •  
  • 1912 Lirio #c Las Vegas, NV 1
    • 2 beds 2 baths ∙ 973 Sqft ∙ Built 1984 2 beds 2 baths ∙ 973 Sqft ∙ Built 1984
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $800
    • $0.82
    •  
  • 2451 Rainbow #2088 Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,128 Sqft ∙ Built 1988 2 beds 2 baths ∙ 1,128 Sqft ∙ Built 1988
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $0.80
    •  
  • 1646 Marathon Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,089 Sqft ∙ Built 1984 2 beds 2 baths ∙ 1,089 Sqft ∙ Built 1984
    property image
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.87
    •  
PROPERTY LISTING DETAILS
Kristen Makhathini
1.702.521.8721
Era Brokers Consolidated
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2277523
Last Updated: 03/13/2021
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