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6609 Lund Drive Las Vegas, NV 89108

3 Beds 3 Baths 1,572 sqft Built 1993

$309,988

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $197.19
  • 5 Days on Market
  • MLS # : 2269056
  • Updated Date : 02/10/2021 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,572 sqft
  • Baths : 3 full
Listing Agent

Ims Realty Llc

Listing Agent's Description

Fantastic Two Story Home On Large Corner Lot! Features 3 Full Baths, 3 Bedrooms, 1 Den/Office/Media Room That Could Potentially Be a 4th Bedroom. Gorgeous Entertainers Back Yard! Great Neighborhood With Easy Access to 95! Close To Shopping, Restaurants, Entertainment & More!

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

Zip Code: 89108

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Zip Code: 89108

ZipNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9121603

* 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
Wing And Lilly Fong Elementary School Primary Regular 867 43 6
Frank F. Garside Junior High School Middle Regular 1,209 52 NA
Western High School High Regular 2,534 112 2

Wing And Lilly Fong Elementary School

  • Education Level: Primary
  • # of students: 867
  • # of teachers: 43
6
GreatSchools Rating

Frank F. Garside Junior High School

  • Education Level: Middle
  • # of students: 1,209
  • # of teachers: 52
NA
GreatSchools Rating

Western High School

  • Education Level: High
  • # of students: 2,534
  • # of teachers: 112
2
GreatSchools Rating
 

$278,989$340,987$309,988

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$1,077
Property Tax -$180
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
-$44

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.

$309,988

PROJECTED PRICE

$1,390

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,897

INVESTMENT

$87,897

Down Payment
$77,497
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,497
Loan Amount $232,491
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$14,568

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,391

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3503$1,3504$1,3905$1,480
$1,480
RENT COMPS ANALYSIS
  • 6609 Lund Drive Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,572 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,572 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.88
    •  
  • 6513 Ruby Red Circle Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 1991
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.85
    •  
  • 6395 Blue Twilight Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,483 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,483 Sqft ∙ Built 2007
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.91
    •  
  • 6500 Burlwood Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 1990
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.85
    •  
  • 1324 Nugget Creek Drive Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,591 Sqft ∙ Built 1995 4 beds 3 baths ∙ 1,591 Sqft ∙ Built 1995
    LEASED 01/16/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.93
    •  
PROPERTY LISTING DETAILS
Walt Ford
1.702.600.5874
Ims Realty Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2269056
Last Updated: 02/10/2021
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