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6556 First View Avenue Las Vegas, NV 89142

4 Beds 2 Baths 1,521 sqft Built 2001

$274,500

List Price

$1,250

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

December 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $180.47
  • 6 Days on Market
  • MLS # : 2254471
  • Updated Date : 12/08/2020 at 20:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,521 sqft
  • Baths : 2 full
Listing Agent

Advent Realty Group Llc

Listing Agent's Description

BEAUTIFUL 1 STORY HOME WITH 4 BEDROOMS, 2 FULL BATHROOMS, LARGE OPEN LIVING ROOM, DINING AREA, KITCHEN, 2 CAR GARAGE & LARGE BACKYARD.

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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: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9591603

* 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
Mervin Iverson Elementary School Primary Regular 870 43 7
Kathleen And Tim Harney Middle School Middle Regular 1,845 71 NA
Las Vegas High School High Regular 3,077 121 4

Mervin Iverson Elementary School

  • Education Level: Primary
  • # of students: 870
  • # of teachers: 43
7
GreatSchools Rating

Kathleen And Tim Harney Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 71
NA
GreatSchools Rating

Las Vegas High School

  • Education Level: High
  • # of students: 3,077
  • # of teachers: 121
4
GreatSchools Rating
 

$247,050$301,950$274,500

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$1,013
Property Tax -$172
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
-$110

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.

$274,500

PROJECTED PRICE

$1,250

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.8%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,493

INVESTMENT

$78,493

Down Payment
$68,625
Rehab Estimate
$5,750
Closing Costs
$4,118

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,013

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,625
Loan Amount $205,875
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$10,111

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,250

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,354

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2503$1,3004$1,3505$1,395
$1,395
RENT COMPS ANALYSIS
  • 6556 First View Avenue Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,521 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,521 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.82
    •  
  • 2520 Olay Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,352 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,352 Sqft ∙ Built 2005
    property image
    LEASED 02/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.89
    •  
  • 2633 Still Light Street Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 2002
    property image
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.86
    •  
  • 2561 Rosy Sunrise Street #n/a Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,521 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,521 Sqft ∙ Built 2001
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.89
    •  
  • 2621 Still Light Street Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,521 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,521 Sqft ∙ Built 2002
    property image
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.92
    •  
PROPERTY LISTING DETAILS
Antonio Gastelum
1.702.622.7601
Advent Realty Group Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2254471
Last Updated: 12/08/2020
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