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6636 Brooklyn Heights Street Las Vegas, NV 89166

4 Beds 2 Baths 3,043 sqft Built 2009

$430,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $141.31
  • 12 Days on Market
  • MLS # : 2250799
  • Updated Date : 12/05/2020 at 13:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,043 sqft
  • Baths : 2 full
Listing Agent

Love Local Real Estate

Listing Agent's Description

*WELCOME HOME TO BEAUTIFUL PROVIDENCE!*THE AIR JUST FEELS CLEANER UP HERE NESTLED AT THE BASE OF THE BEAUTIFUL VEGAS VALLEY MOUNTAINS*YOU WON'T BE DISAPPOINTED WITH THIS IMMACULATE TWO STORY*NICELY UPGRADED AND IMPECCABLY MAINTAINED*TILE THROUGHOUT MAIN LEVEL*BED & BATH DOWN*SPACIOUS LOFT/GAME ROOM*GRACIOUS MASTER SUITE/RETREAT THAT YOU MAY NEVER WANT TO LEAVE*WIDE OPEN KITCHEN TO FAMILY ROOM WITH MASSIVE ISLAND*

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Auburn and Bradford at Providence

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k395k

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

Neighborhood: Auburn and Bradford at Providence

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600165017001750Rent in $10761758

* 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
Kenneth Divich Elementary Primary Unknown NA
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Centennial High School High Regular 3,055 124 6

Kenneth Divich Elementary

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
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
 

$387,000$473,000$430,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,587
Property Tax -$338
Property Insurance -$86
Property Management Fees -$119
CASH FLOW
-$130

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.

$430,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 4.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,700

INVESTMENT

$119,700

Down Payment
$107,500
Rehab Estimate
$5,750
Closing Costs
$6,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,587

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,500
Loan Amount $322,500
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$20,918

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $2,221

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0003$2,2004$2,3005$2,375
$2,375
RENT COMPS ANALYSIS
  • 6636 Brooklyn Heights Street Las Vegas, NV 2
    • 4 beds 2 baths ∙ 3,043 Sqft ∙ Built 2009 4 beds 2 baths ∙ 3,043 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.66
    •  
  • 10613 Lomaland Avenue Las Vegas, NV 1
    • 4 beds 4 baths ∙ 2,868 Sqft ∙ Built 2013 4 beds 4 baths ∙ 2,868 Sqft ∙ Built 2013
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.68
    •  
  • 10428 Doman Avenue Las Vegas, NV 3
    • 5 beds 2 baths ∙ 3,205 Sqft ∙ Built 2012 5 beds 2 baths ∙ 3,205 Sqft ∙ Built 2012
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.69
    •  
  • 10657 Auburn Springs Avenue Las Vegas, NV 4
    • 5 beds 3 baths ∙ 2,996 Sqft ∙ Built 2013 5 beds 3 baths ∙ 2,996 Sqft ∙ Built 2013
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.77
    •  
  • 6615 Brooklyn Heights Street Las Vegas, NV 5
    • 4 beds 2 baths ∙ 3,031 Sqft ∙ Built 2009 4 beds 2 baths ∙ 3,031 Sqft ∙ Built 2009
    LEASED 08/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.78
    •  
PROPERTY LISTING DETAILS
Taylor J Prince
1.702.235.6467
Love Local Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2250799
Last Updated: 12/05/2020
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