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6648 Petrified Forest Street North Las Vegas, NV 89084

4 Beds 3 Baths 2,224 sqft Built 2001

$310,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2001
  • Price/Sqft : $139.39
  • 11 Days on Market
  • MLS # : 2242220
  • Updated Date : 10/24/2020 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,224 sqft
  • Baths : 2 full , 1 half
Listing Agent

Monticello Realty Llc

Listing Agent's Description

See 3d virtual tour. 4 bedroom + loft in a gated community. Beautiful back yard with 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: Parks

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $110k296k

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

Neighborhood: Parks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9431606

* 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
Don E. Hayden Elementary School Primary Regular 702 38 6
Clifford O. Findlay Middle School Middle Regular 1,372 59 NA
Legacy High School High Regular 2,819 119 3

Don E. Hayden Elementary School

  • Education Level: Primary
  • # of students: 702
  • # of teachers: 38
6
GreatSchools Rating

Clifford O. Findlay Middle School

  • Education Level: Middle
  • # of students: 1,372
  • # of teachers: 59
NA
GreatSchools Rating

Legacy High School

  • Education Level: High
  • # of students: 2,819
  • # of teachers: 119
3
GreatSchools Rating
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,144
Property Tax -$243
Property Insurance -$70
HOA -$68
Property Management Fees -$119
CASH FLOW
-$4

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.

$310,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 12.8%
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$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$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$22,423

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,635

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,640
1$1,6402$1,6503$1,6754$1,6755$1,695
$1,695
RENT COMPS ANALYSIS
  • 6648 Petrified Forest Street North Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.74
    •  
  • 630 Blossom Berry Court North Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,240 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,240 Sqft ∙ Built 2000
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.74
    •  
  • 6416 Setting Moon Street North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,315 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,315 Sqft ∙ Built 2010
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.72
    •  
  • 6509 Winter Moon Street #0 North Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,315 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,315 Sqft ∙ Built 2007
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.72
    •  
  • 6716 Maple Mesa Street #0 North Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 2001
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.76
    •  
PROPERTY LISTING DETAILS
Ethan R Hardinger
1.702.499.9802
Monticello Realty Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2242220
Last Updated: 10/24/2020
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