Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

6568 La Placita Avenue Las Vegas, NV 89142

3 Beds 3 Baths 1,182 sqft Built 2004

$239,900

List Price

$1,070

$963 - $1.2K

Rent Est.

PROPERTY INFO

February 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $202.96
  • 7 Days on Market
  • MLS # : 2264981
  • Updated Date : 02/03/2021 at 21:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,182 sqft
  • Baths : 2 full , 1 half
Listing Agent

Life Realty District

Listing Agent's Description

Charming, newly remodeled two story home with 3 bedroom 3 bath 2 car garage. New appliances, new carpets, new painting, new Garage door. spacious living room in the rear of home with cozy fireplace, kitchen has breakfast bar, with dining area. Master bedroom with walk-in closet.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (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
 

$215,910$263,890$239,900

PURCHASE PRICE

$963$1,177$1,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,070
EXPENSES Loan Payment -$833
Property Tax -$150
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
-$83

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.

$239,900

PROJECTED PRICE

$1,070

PROJECTED RENT

0.45%

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$833

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$7,804

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,070

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,073

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,070
1$1,0702$1,1003$1,2004$1,2505$1,350
$1,350
RENT COMPS ANALYSIS
  • 6568 La Placita Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,182 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,182 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,070
    • $0.91
    •  
  • 2529 Madre Grande Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,182 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,182 Sqft ∙ Built 2005
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.93
    •  
  • 2520 Olay Street Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,352 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,352 Sqft ∙ Built 2005
    LEASED 02/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.89
    •  
  • 6520 La Placita Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,352 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,352 Sqft ∙ Built 2004
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.92
    •  
  • 2561 Rosy Sunrise Street #n/a Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,521 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,521 Sqft ∙ Built 2001
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.89
    •  
PROPERTY LISTING DETAILS
Nancy Chen
1.702.758.3798
Life Realty District
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2264981
Last Updated: 02/03/2021
BESbswy