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6592 Mountain Spirit Court Las Vegas, NV 89139

5 Beds 3 Baths 2,900 sqft Built 2016

INVESTimate

$460,000

List Price

$2,130

$1,917 - $2,343

Rent Est.

$505,034  ( +9.79%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $158.62
  • 7 Days on Market
  • MLS # : 2222679
  • Updated Date : 08/22/2020 at 15:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,900 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Sw

Listing Agent's Description

Gorgeous 5 bed, 3.5 bath southwest Las Vegas home available in desirable Coronado Ranch. Well placed on a large south facing corner lot, just across the street from Cougar Creek Park and minutes from freeways, schools, shopping and restaurants. Room to spread out with 2900 sqft of living space, a formal living and dining area as well as a separate open concept family room. Stylish island kitchen boasts ss appliances and granite countertops. Upstairs master includes a walk in closet and a private en-suite with dual sinks and an oversize shower. Large backyard with room for pets, gardening, entertaining and more. This one will sell fast. Don´t miss it.

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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: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
Mark L. Fine Elementary School Primary Regular 1,001 51 6
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Sierra Vista High School High Regular 2,396 88 4

Mark L. Fine Elementary School

  • Education Level: Primary
  • # of students: 1,001
  • # of teachers: 51
6
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
 

$414,000$506,000$460,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,697
Property Tax -$343
Property Insurance -$83
HOA -$19
Property Management Fees -$119
CASH FLOW
-$132

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.

$460,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.79%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,650

INVESTMENT

$127,650

Down Payment
$115,000
Rehab Estimate
$5,750
Closing Costs
$6,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $115,000
Loan Amount $345,000
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$23,714

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,190

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,970
1$1,9702$2,1303$2,2004$2,2505$2,400
$2,400
RENT COMPS ANALYSIS
  • 6592 Mountain Spirit Court Las Vegas, NV 2
    • 5 beds 3 baths ∙ 2,900 Sqft ∙ Built 2016 5 beds 3 baths ∙ 2,900 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $0.73
    •  
  • 6639 Octave Avenue Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,742 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,742 Sqft ∙ Built 2006
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.72
    •  
  • 6328 White Heron Court #0 Las Vegas, NV 3
    • 4 beds 3 baths ∙ 3,019 Sqft ∙ Built 2013 4 beds 3 baths ∙ 3,019 Sqft ∙ Built 2013
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.73
    •  
  • 6603 Musette Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,971 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,971 Sqft ∙ Built 2010
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.76
    •  
  • 6754 Bel Canto Court Las Vegas, NV 5
    • 5 beds 4 baths ∙ 2,960 Sqft ∙ Built 2013 5 beds 4 baths ∙ 2,960 Sqft ∙ Built 2013
    LEASED 10/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.81
    •  
PROPERTY LISTING DETAILS
Robert Strohmeyer
1.702.508.1872
Keller Williams Realty Sw
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222679
Last Updated: 08/22/2020
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