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6632 Turina Road Las Vegas, NV 89146

4 Beds 3 Baths 2,268 sqft Built 1978

$549,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $242.06
  • 3 Days on Market
  • MLS # : 2280074
  • Updated Date : 03/20/2021 at 19:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,268 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Market Place

Listing Agent's Description

Stunning, Single story home located in SW with NO HOA. 4 bedrooms, 3 baths, as well as 3 car garage. Fabulous open floor plan. Fully upgraded kitchen with commercial class stainless steel, granite countertops, cooking stove, hood, and extra prep and storage space. Master bath with jacuzzi tub. Crystal chandeliers in every room. No carpet. Easy to maintenance. huge backyard with RV parking and covered patio.

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: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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
R. Guild Gray Elementary School Primary Regular 521 24 5
Kenny C. Guinn Middle School Middle Regular 820 40 NA
Bonanza High School High Regular 2,003 83 3

R. Guild Gray Elementary School

  • Education Level: Primary
  • # of students: 521
  • # of teachers: 24
5
GreatSchools Rating

Kenny C. Guinn Middle School

  • Education Level: Middle
  • # of students: 820
  • # of teachers: 40
NA
GreatSchools Rating

Bonanza High School

  • Education Level: High
  • # of students: 2,003
  • # of teachers: 83
3
GreatSchools Rating
 

$494,100$603,900$549,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,907
Property Tax -$222
Property Insurance -$71
Property Management Fees -$119
CASH FLOW
-$589

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.

$549,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.9%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,235

INVESTMENT

$151,235

Down Payment
$137,250
Rehab Estimate
$5,750
Closing Costs
$8,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,907

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,250
Loan Amount $411,750
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$2,177

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,792

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,7303$1,8004$1,8505$2,050
$2,050
RENT COMPS ANALYSIS
  • 6632 Turina Road Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.76
    •  
  • 6561 Larchwood Lane Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,082 Sqft ∙ Built 1975 4 beds 2 baths ∙ 2,082 Sqft ∙ Built 1975
    property image
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.74
    •  
  • 7089 Mountain Moss Drive Las Vegas, NV 3
    • 5 beds 2 baths ∙ 2,156 Sqft ∙ Built 1980 5 beds 2 baths ∙ 2,156 Sqft ∙ Built 1980
    property image
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.83
    •  
  • 2660 Rosanna Street Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,322 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,322 Sqft ∙ Built 1994
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.80
    •  
  • 6618 Coley Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,608 Sqft ∙ Built 1973 3 beds 3 baths ∙ 2,608 Sqft ∙ Built 1973
    property image
    LEASED 04/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.79
    •  
PROPERTY LISTING DETAILS
Nancy Li
1.702.483.0653
Keller Williams Market Place
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2280074
Last Updated: 03/20/2021
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