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6631 Breakwater Reef Street Las Vegas, NV 89149

3 Beds 3 Baths 1,731 sqft Built 2017

$328,900

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $190.01
  • 5 Days on Market
  • MLS # : 2248033
  • Updated Date : 11/13/2020 at 12:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,731 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Market Place I

Listing Agent's Description

MOVE IN READY! * TONS OF UPGRADES IN THIS GATED COMMUNITY HOME * 3BD+LOFT / 2.5 BA, 2-CAR, YR 2017 * BETTER THAN NEW! * REAL WOOD SHUTTERS THROUGHOUT * GRANITE, STAINLESS STEEL AND WALKIN PANTRY * OPEN AIRY FLOOR PLAN WITH SUNNY KITCHEN AND GREAT ROOM * FULLY LANDSCAPED BACKYARD WITH SYNTHETIC GRASS * ALL APPLIANCES INCLUDED INCLUDING WATER SOFT * SUPER CLEAN * ALARM SYSTEM HARDWARE INCLUDED * COMMUNITY PARK & POOL * EXCELLENT NORTHWEST LOCATION ** COME AND SEE!

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: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Marshall C. Darnell Elementary School Primary Regular 793 40 6
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Centennial High School High Regular 3,055 124 6

Marshall C. Darnell Elementary School

  • Education Level: Primary
  • # of students: 793
  • # of teachers: 40
6
GreatSchools Rating

Edmundo Eddie Escobedo Sr Middle School

  • Education Level: Middle
  • # of students: 1,171
  • # of teachers: 47
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$296,010$361,790$328,900

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$1,214
Property Tax -$276
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
-$149

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.

$328,900

PROJECTED PRICE

$1,520

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.3%
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$92,909

INVESTMENT

$92,909

Down Payment
$82,225
Rehab Estimate
$5,750
Closing Costs
$4,934

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,214

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,225
Loan Amount $246,675
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$12,725

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,549

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,520
1$1,5202$1,5493$1,5504$1,5505$1,595
$1,595
RENT COMPS ANALYSIS
  • 6631 Breakwater Reef Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,731 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,731 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.88
    •  
  • 6767 Sharks Bay Court Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,731 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,731 Sqft ∙ Built 2015
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,549
    • $0.89
    •  
  • 9149 Checkerboard Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,697 Sqft ∙ Built 2011 3 beds 3 baths ∙ 1,697 Sqft ∙ Built 2011
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.91
    •  
  • 6484 Albina Creek Street Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,701 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,701 Sqft ∙ Built 2006
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.91
    •  
  • 9013 Victor Creek Avenue Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 2007
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.87
    •  
PROPERTY LISTING DETAILS
Tania Michaels
1.702.675.8211
Keller Williams Market Place I
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2248033
Last Updated: 11/13/2020
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