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6571 Solitary Avenue Las Vegas, NV 89110

3 Beds 2 Baths 2,102 sqft Built 1996

$450,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $214.08
  • 5 Days on Market
  • MLS # : 2272129
  • Updated Date : 02/26/2021 at 16:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,102 sqft
  • Baths : 2 full
Listing Agent

Allison James Estates & Homes

Listing Agent's Description

Gorgeous ONE STORY HOME on 1/2 ACRE LOT (.46) in the quaint, quiet community of SOLITUDE. This immaculate home has great CURB APPEAL and VIEWS of SUNRISE MOUNTAIN and the LAS VEGAS STRIP. LOTS of LIGHT with vaulted ceilings and beautiful arched architecture, large windows overlooking pool size backyard. FRENCH DOORS, cozy FIREPLACE, LUXURY vinyl flooring, NEW STAINLESS STEEL Refrigerator, Gas Oven and Dishwasher, 5 inch BASEBOARDS, UPDATED LIGHTING. Relax in the beautiful indoor JACUZZI walk-in tub valued at 20K(per seller). Quaint, quiet Solitary community has only 80 homes, all built on nice large lots, so it's an open feel for your clients. Neighbors enjoy walking the neighborhood with views of the Sunrise Mountain. One-story homes rarely come on the market in the Solitude community. LOW HOA, only $55 per mo. Immaculate, SINGLE STORY homes on a 1/2 acre (.46) with RV PARKING and 3-car garage are a RARE find. Shows like a MODEL HOME. ORIGINAL OWNERS--PRIDE OF OWNERSHIP.

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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: 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
Kirk Adams Elementary School Primary Regular 509 27 4
Duane Keller Middle School Middle Regular 1,257 56 NA
Las Vegas High School High Regular 3,077 121 4

Kirk Adams Elementary School

  • Education Level: Primary
  • # of students: 509
  • # of teachers: 27
4
GreatSchools Rating

Duane Keller Middle School

  • Education Level: Middle
  • # of students: 1,257
  • # of teachers: 56
NA
GreatSchools Rating

Las Vegas High School

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

$405,000$495,000$450,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,563
Property Tax -$267
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
-$287

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.

$450,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.38%

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$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$7,076

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,529

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3503$1,6004$1,7305$1,800
$1,800
RENT COMPS ANALYSIS
  • 6571 Solitary Avenue Las Vegas, NV 4
    • 3 beds 2 baths ∙ 2,102 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,102 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.82
    •  
  • 5993 Autumn Harvest Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,756 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,756 Sqft ∙ Built 1998
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.74
    •  
  • 6329 Peach Orchard Road Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,989 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,989 Sqft ∙ Built 1997
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.68
    •  
  • 5958 Samia Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,290 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,290 Sqft ∙ Built 2001
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.70
    •  
  • 1206 Mint Julep Way Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,279 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,279 Sqft ∙ Built 1996
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.79
    •  
PROPERTY LISTING DETAILS
Sheree B Segura
1.702.888.2683
Allison James Estates & Homes
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2272129
Last Updated: 02/26/2021
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