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6549 Butterfly Sky Street North Las Vegas, NV 89084

4 Beds 3 Baths 1,575 sqft Built 2004

$269,900

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $171.37
  • 5 Days on Market
  • MLS # : 2243351
  • Updated Date : 11/01/2020 at 09:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,575 sqft
  • Baths : 3 full
Listing Agent

Homesmart Encore

Listing Agent's Description

Unique floor plan with 1575 sq ft of living space featuring a large Master Bedroom Retreat! This inviting home offers 4 bedrooms and 3 full baths with 1 BR & full BA downstairs. Inviting open floor plan with Kitchen/Dining Room/Living Room combo. Kitchen offers lots of natural light, ample counter space, stainless steel appliances and tile flooring. Other features include separate laundry room, 2 car garage, ceiling fans in bedrooms and living room, and inviting outdoor living space with courtyard.

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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: Rome

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $92k296k

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

Neighborhood: Rome

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9041606

* 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
Don E. Hayden Elementary School Primary Regular 702 38 6
Clifford O. Findlay Middle School Middle Regular 1,372 59 NA
Legacy High School High Regular 2,819 119 3

Don E. Hayden Elementary School

  • Education Level: Primary
  • # of students: 702
  • # of teachers: 38
6
GreatSchools Rating

Clifford O. Findlay Middle School

  • Education Level: Middle
  • # of students: 1,372
  • # of teachers: 59
NA
GreatSchools Rating

Legacy High School

  • Education Level: High
  • # of students: 2,819
  • # of teachers: 119
3
GreatSchools Rating
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$996
Property Tax -$205
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
-$57

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.

$269,900

PROJECTED PRICE

$1,320

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$15,648

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,382

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,320
1$1,3202$1,3503$1,3954$1,4505$1,450
$1,450
RENT COMPS ANALYSIS
  • 6549 Butterfly Sky Street North Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,575 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,575 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $0.84
    •  
  • 6541 Butterfly Sky Street North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,479 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,479 Sqft ∙ Built 2004
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.91
    •  
  • 6551 Goldfield Street #0 North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,656 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,656 Sqft ∙ Built 2004
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.84
    •  
  • 24 Yellow Flame North Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,656 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,656 Sqft ∙ Built 2004
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.88
    •  
  • 6445 Butterfly Sky Street #0 Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 2004
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.88
    •  
PROPERTY LISTING DETAILS
Alexandra Matthews
1.702.302.6941
Homesmart Encore
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243351
Last Updated: 11/01/2020
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