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6613 Song Sparrow Court North Las Vegas, NV 89084

4 Beds 2 Baths 2,038 sqft Built 2006

$385,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $188.91
  • 5 Days on Market
  • MLS # : 2276927
  • Updated Date : 03/17/2021 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,038 sqft
  • Baths : 2 full
Listing Agent

Re/max Advantage

Listing Agent's Description

Super single story in the premier Aliante community. Over 2000sf of single story living complete with a 3 car garage and private backyard. Enjoy the upgraded kitchen overlooking the family room making this place a place to gather post COVID. Kitchen has an island with sink, granite counters, tumbled marble backsplash, and tile floors too! Wide open formal rooms at double door entry in front. Lots of flexibility to match your imagination here. Spacious primary bedroom w/ ensuite includes spa tub! Separate shower and walk-in closet rock the suite. Quick access to parks and Aliante community shopping, 215 freeway too!

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: Aliante

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $110k362k

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

Neighborhood: Aliante

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9671963

* 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
Theron And Naomi Goynes Elementary School Primary Regular 896 41 7
Brian And Teri Cram Middle School Middle Regular 1,568 65 NA
Legacy High School High Regular 2,819 119 3

Theron And Naomi Goynes Elementary School

  • Education Level: Primary
  • # of students: 896
  • # of teachers: 41
7
GreatSchools Rating

Brian And Teri Cram Middle School

  • Education Level: Middle
  • # of students: 1,568
  • # of teachers: 65
NA
GreatSchools Rating

Legacy High School

  • Education Level: High
  • # of students: 2,819
  • # of teachers: 119
3
GreatSchools Rating
 

$346,500$423,500$385,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,337
Property Tax -$308
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
-$181

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.

$385,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.2%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,337

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$11,086

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,661

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6953$1,7954$1,7995$1,850
$1,850
RENT COMPS ANALYSIS
  • 6613 Song Sparrow Court North Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,038 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,038 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.81
    •  
  • 2117 Merganser Court North Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,153 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,153 Sqft ∙ Built 2004
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.79
    •  
  • 2516 Courlan Drive North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,205 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,205 Sqft ∙ Built 2005
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.81
    •  
  • 2613 Courlan North Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,205 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,205 Sqft ∙ Built 2005
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.82
    •  
  • 6557 Cape Petrel Street Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,206 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,206 Sqft ∙ Built 2005
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.84
    •  
PROPERTY LISTING DETAILS
Timothy P Kuptz
1.702.723.7290
Re/max Advantage
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2276927
Last Updated: 03/17/2021
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