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6652 Gazelle Drive Las Vegas, NV 89108

2 Beds 1 Baths 1,125 sqft Built 1983

$328,000

List Price

$1,160

$1K - $1.3K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $291.56
  • 4 Days on Market
  • MLS # : 2263554
  • Updated Date : 01/22/2021 at 23:45
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,125 sqft
  • Baths : 1 full
Listing Agent

Gk Properties

Listing Agent's Description

This Wonderful Cottage has been completely remodeled! Move In Ready with a HUGE back yard to build your outdoor escape! Close to Everything. New Floors, paint and cabinets. A Must See at this price range. possibly the nicest home on the block. Don't miss out on this one.

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

Zip Code: 89108

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Zip Code: 89108

ZipNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9121603

* 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
Wing And Lilly Fong Elementary School Primary Regular 867 43 6
J. Harold Brinley Middle School Middle Regular 914 41 NA
Western High School High Regular 2,534 112 2

Wing And Lilly Fong Elementary School

  • Education Level: Primary
  • # of students: 867
  • # of teachers: 43
6
GreatSchools Rating

J. Harold Brinley Middle School

  • Education Level: Middle
  • # of students: 914
  • # of teachers: 41
NA
GreatSchools Rating

Western High School

  • Education Level: High
  • # of students: 2,534
  • # of teachers: 112
2
GreatSchools Rating
 

$295,200$360,800$328,000

PURCHASE PRICE

$1,044$1,276$1,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,160
EXPENSES Loan Payment -$1,139
Property Tax -$114
Property Insurance -$49
Property Management Fees -$119
CASH FLOW
-$261

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$328,000

PROJECTED PRICE

$1,160

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.7%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$92,670

INVESTMENT

$92,670

Down Payment
$82,000
Rehab Estimate
$5,750
Closing Costs
$4,920

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,139

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,000
Loan Amount $246,000
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$3,851

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,160

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,010

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$950
1$9502$9503$1,0254$1,1605$1,195
$1,195
RENT COMPS ANALYSIS
  • 6652 Gazelle Drive Las Vegas, NV 4
    • 2 beds 1 baths ∙ 1,125 Sqft ∙ Built 1983 2 beds 1 baths ∙ 1,125 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,160
    • $1.03
    •  
  • 1622 Marathon Las Vegas, NV 1
    • 2 beds 2 baths ∙ 1,089 Sqft ∙ Built 1984 2 beds 2 baths ∙ 1,089 Sqft ∙ Built 1984
    property image
    LEASED 04/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.87
    •  
  • 1646 Marathon Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,089 Sqft ∙ Built 1984 2 beds 2 baths ∙ 1,089 Sqft ∙ Built 1984
    property image
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.87
    •  
  • 1701 Kismet Las Vegas, NV 3
    • 2 beds 1 baths ∙ 1,125 Sqft ∙ Built 1982 2 beds 1 baths ∙ 1,125 Sqft ∙ Built 1982
    property image
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,025
    • $0.91
    •  
  • 6516 Capricorn Drive #0 Las Vegas, NV 5
    • 2 beds 1 baths ∙ 1,272 Sqft ∙ Built 1984 2 beds 1 baths ∙ 1,272 Sqft ∙ Built 1984
    property image
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.94
    •  
PROPERTY LISTING DETAILS
Nitsa Filios
1.702.595.6888
Gk Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2263554
Last Updated: 01/22/2021
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