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6573 Chimes Tower Avenue Las Vegas, NV 89139

4 Beds 3 Baths 2,324 sqft Built 2002

$435,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $187.18
  • 3 Days on Market
  • MLS # : 2280134
  • Updated Date : 03/21/2021 at 02:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,324 sqft
  • Baths : 2 full , 1 half
Listing Agent

Property Search Vegas Llc

Listing Agent's Description

BEAUTIFUL HOME IN DESIRABLE SOUTHWEST AREA!!! WALK INTO THE HIGH CEILINGS FORMAL LIVING ROOM WITH GORGEOUS FILEPLACE... TRI LEVEL UP INTO FORMAL DINING ROOM & LEADING YOU INTO KITCHEN WITH LOTS OF CABINET SPACE, ISLAND & BREAKFAST NOOK. TRI LEVEL DOWN INTO FAMILY ROOM WITH COZY FIREPLACE & WET BAR, GREAT FOR ENTERTAINING. ALL 4 BEDROOMS ARE UPSTAIRS & MASTER BEDROOM FEATURES A LARGE BATHROOM WITH SEPERATE BATHTUB/SHOWER & WALK IN CLOSET. POOL SIZE BACK YARD IS READY FOR NEW OWERS TO MAKE THEIR OWN PARADISE. MINUTES FROM FREEWAY, LAS VEGAS STRIP, RAIDER'S STADIUM, SCHOOLS AND SHOPPING.

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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: Coronado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $119k352k

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

Neighborhood: Coronado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9561622

* 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
Tony Alamo Elementary School Primary Regular 961 51 7
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Sierra Vista High School High Regular 2,396 88 4

Tony Alamo Elementary School

  • Education Level: Primary
  • # of students: 961
  • # of teachers: 51
7
GreatSchools Rating

Lawrence And Heidi Canarelli Middle School

  • Education Level: Middle
  • # of students: 1,802
  • # of teachers: 70
NA
GreatSchools Rating

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

$391,500$478,500$435,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,511
Property Tax -$271
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
-$303

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.

$435,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.3%
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$1.2M$1.4M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$121,025

INVESTMENT

$121,025

Down Payment
$108,750
Rehab Estimate
$5,750
Closing Costs
$6,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,511

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $108,750
Loan Amount $326,250
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$6,890

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,853

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,670
1$1,6702$1,7303$1,8004$1,9005$1,985
$1,985
RENT COMPS ANALYSIS
  • 6573 Chimes Tower Avenue Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,324 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,324 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.72
    •  
  • 6652 Ashley House Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,256 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,256 Sqft ∙ Built 2007
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.77
    •  
  • 6624 Baroque Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,227 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,227 Sqft ∙ Built 2004
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.81
    •  
  • 6815 Frogs Leap Court Las Vegas, NV 4
    • 4 beds 4 baths ∙ 2,470 Sqft ∙ Built 2010 4 beds 4 baths ∙ 2,470 Sqft ∙ Built 2010
    property image
    LEASED 02/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.77
    •  
  • 6623 Octave Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,368 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,368 Sqft ∙ Built 2006
    property image
    LEASED 03/17/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,985
    • $0.84
    •  
PROPERTY LISTING DETAILS
Maria Bernal
1.702.338.8499
Property Search Vegas Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2280134
Last Updated: 03/21/2021
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