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

6608 Chimes Tower Avenue Las Vegas, NV 89139

4 Beds 3 Baths 2,842 sqft Built 2002

$468,000

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $164.67
  • 4 Days on Market
  • MLS # : 2273016
  • Updated Date : 02/28/2021 at 01:22
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,842 sqft
  • Baths : 2 full , 1 half
Listing Agent

Engel & Volkers Las Vegas

Listing Agent's Description

AWESOME SOUTHWEST BEAUTIFUL HOME!!! Great entryway leading to formal area with engineered wood flooring, this home is GORGEOUS! Gourmet-like kitchen with granite countertops and upgraded cabinetry overlooking a Family/Entertainment Room with 3-way fireplace. Primary bedroom is huge with a separate sitting area with French doors and a balcony. The back has a covered patio and a lush landscaping with several fruit-bearing trees. Very nicely upgraded throughout! Current photos do not give the property much justice so please come and view.

SEE MORE

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
 

$421,200$514,800$468,000

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,626
Property Tax -$291
Property Insurance -$82
Property Management Fees -$119
CASH FLOW
-$37

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.

$468,000

PROJECTED PRICE

$2,080

PROJECTED RENT

0.44%

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$1.6M

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$129,770

INVESTMENT

$129,770

Down Payment
$117,000
Rehab Estimate
$5,750
Closing Costs
$7,020

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,626

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $117,000
Loan Amount $351,000
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$26,889

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,217

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,080
1$2,0802$2,1003$2,1954$2,2905$2,500
$2,500
RENT COMPS ANALYSIS
  • 6608 Chimes Tower Avenue Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,842 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,842 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $0.73
    •  
  • 6708 Starshell Bay Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,842 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,842 Sqft ∙ Built 2001
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.74
    •  
  • 8252 Sorrel Las Vegas, NV 3
    • 4 beds 4 baths ∙ 3,005 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,005 Sqft ∙ Built 2014
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.73
    •  
  • 6633 Shadow Cove Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,842 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,842 Sqft ∙ Built 2002
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $0.81
    •  
  • 6754 Bel Canto Court Las Vegas, NV 5
    • 5 beds 3 baths ∙ 2,960 Sqft ∙ Built 2013 5 beds 3 baths ∙ 2,960 Sqft ∙ Built 2013
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.84
    •  
PROPERTY LISTING DETAILS
Colette L Manauis
1.702.850.1688
Engel & Volkers Las Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2273016
Last Updated: 02/28/2021
BESbswy