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6628 Silver Penny Avenue Las Vegas, NV 89108

4 Beds 3 Baths 2,028 sqft Built 1990

$339,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $167.16
  • 4 Days on Market
  • MLS # : 2270996
  • Updated Date : 02/18/2021 at 17:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,028 sqft
  • Baths : 3 full
Listing Agent

O'harmony Realty Llc

Listing Agent's Description

This is a lovely house, there is 1 bedroom & 1 office downstairs, the other 3 bedrooms are upstairs , 3 full bathrooms , and a balcony from master bedroom .High ceiling in living room. New laminate floor in living room and all bedrooms. New title floor in all bathrooms. New paint, New blinds, New dishwasher. AC and water heater are 2 years old. refrigerator sold AS IS. convenient location, easy to go grocery and free way.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Sterling Springs

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $86k296k

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

Neighborhood: Sterling Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9201606

* 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
Berkley Bunker Elementary School Primary Regular 746 39 4
Irwin And Susan Molasky Junior High School Middle Regular 1,131 50 NA
Cimarron Memorial High School High Regular 2,541 102 3

Berkley Bunker Elementary School

  • Education Level: Primary
  • # of students: 746
  • # of teachers: 39
4
GreatSchools Rating

Irwin And Susan Molasky Junior High School

  • Education Level: Middle
  • # of students: 1,131
  • # of teachers: 50
NA
GreatSchools Rating

Cimarron Memorial High School

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

$305,100$372,900$339,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,177
Property Tax -$187
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
$80

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.

$339,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 14.3%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,585

INVESTMENT

$95,585

Down Payment
$84,750
Rehab Estimate
$5,750
Closing Costs
$5,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,177

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,750
Loan Amount $254,250
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$29,725

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,749

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6303$1,6404$1,7995$1,800
$1,800
RENT COMPS ANALYSIS
  • 6628 Silver Penny Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,028 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,028 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.80
    •  
  • 2633 Island Brook Drive Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,836 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,836 Sqft ∙ Built 1990
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.84
    •  
  • 6665 Coral Springs Circle Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,887 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,887 Sqft ∙ Built 1990
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.87
    •  
  • 7205 Dalegrove Drive Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,019 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,019 Sqft ∙ Built 1985
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.89
    •  
  • 2624 Cathedral Lane Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,110 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,110 Sqft ∙ Built 1987
    LEASED 02/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.85
    •  
PROPERTY LISTING DETAILS
Qing Tang
1.702.786.3558
O'harmony Realty Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2270996
Last Updated: 02/18/2021
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