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6617 Genevieve Court Las Vegas, NV 89108

3 Beds 2 Baths 1,315 sqft Built 1997

INVESTimate

$318,000

List Price

$1,210

$1,089 - $1,331

Rent Est.

$355,333  ( +11.74%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $241.83
  • 8 Days on Market
  • MLS # : 2223358
  • Updated Date : 08/19/2020 at 18:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,315 sqft
  • Baths : 2 full
Listing Agent

Vegas One Realty

Listing Agent's Description

Beautiful upgraded home, wood floors, travertine kitchen flooring along with the the hallways. Custom cabinets with granite counter tops new appliances included. Including washer n dryer. Interior and exterior have been recently painted, this house has a lot of upgrades. Swimming pool deck recently painted with cooler paint, this backyard also has Jacuzzi and water flowing fountain. Make a appointment to see this one in person the pictures do not do it justice.

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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

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
J. Harold Brinley Middle School Middle Regular 914 41 NA
Cimarron Memorial High School High Regular 2,541 102 3

Wing And Lilly Fong Elementary School

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

J. Harold Brinley Middle School

  • Education Level: Middle
  • # of students: 914
  • # of teachers: 41
NA
GreatSchools Rating

Cimarron Memorial High School

  • Education Level: High
  • # of students: 2,541
  • # of teachers: 102
3
GreatSchools Rating
 

$286,200$349,800$318,000

PURCHASE PRICE

$1,089$1,331$1,210

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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,210
EXPENSES Loan Payment -$1,173
Property Tax -$215
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
-$350

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.

$318,000

PROJECTED PRICE

$1,210

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.74%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,020

INVESTMENT

$90,020

Down Payment
$79,500
Rehab Estimate
$5,750
Closing Costs
$4,770

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,173

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,500
Loan Amount $238,500
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$1,370

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,210

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,190

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,050
1$1,0502$1,1003$1,1954$1,2105$1,350
$1,350
RENT COMPS ANALYSIS
  • 6617 Genevieve Court Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,315 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,315 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,210
    • $0.92
    •  
  • 2700 North Rainbow Boulevard #1016 Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,172 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,172 Sqft ∙ Built 1989
    LEASED 08/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.90
    •  
  • 2451 Rainbow Boulevard #2080 Las Vegas, NV 2
    • 3 beds 1 baths ∙ 1,237 Sqft ∙ Built 1988 3 beds 1 baths ∙ 1,237 Sqft ∙ Built 1988
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.89
    •  
  • 6588 Woodsworth Avenue Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,315 Sqft ∙ Built 1997 3 beds 1 baths ∙ 1,315 Sqft ∙ Built 1997
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.91
    •  
  • 1917 Bookbinder Drive Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1992
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.92
    •  
PROPERTY LISTING DETAILS
Thomas Leigh
1.702.460.8143
Vegas One Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223358
Last Updated: 08/19/2020
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