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6653 Coral Falls Circle Las Vegas, NV 89108

2 Beds 4 Baths 1,601 sqft Built 1990

$240,000

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $149.91
  • 7 Days on Market
  • MLS # : 2246888
  • Updated Date : 11/09/2020 at 19:30
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,601 sqft
  • Baths : 3 full , 1 half
Listing Agent

Innovative Real Estate Strateg

Listing Agent's Description

Well kept 2 story home located in the hidden gem of the Smoke Ranch community. The amenities included are a clubhouse, park, pool, roving security and many more. The interior features the primary bedroom downstairs and secondary room upstairs providing plenty of privacy as well as vaulted ceilings creating open spaces. The kitchen offers plenty of cabinet space and stainless steel appliances.

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
Berkley Bunker Elementary School Primary Regular 746 39 4
J. Harold Brinley Middle School Middle Regular 914 41 NA
Cimarron Memorial High School High Regular 2,541 102 3

Berkley Bunker Elementary School

  • Education Level: Primary
  • # of students: 746
  • # of teachers: 39
4
GreatSchools Rating

J. Harold Brinley Middle School

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

Cimarron Memorial High School

  • Education Level: High
  • # of students: 2,541
  • # of teachers: 102
3
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$886
Property Tax -$166
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$131

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.

$240,000

PROJECTED PRICE

$1,360

PROJECTED RENT

0.57%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$29,981

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,409

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,190
1$1,1902$1,3003$1,3004$1,3505$1,360
$1,360
RENT COMPS ANALYSIS
  • 6653 Coral Falls Circle Las Vegas, NV 5
    • 2 beds 4 baths ∙ 1,601 Sqft ∙ Built 1990 2 beds 4 baths ∙ 1,601 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.85
    •  
  • 7013 Brown Derby Circle #0 Las Vegas, NV 1
    • 2 beds 3 baths ∙ 1,408 Sqft ∙ Built 1987 2 beds 3 baths ∙ 1,408 Sqft ∙ Built 1987
    LEASED 05/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,190
    • $0.85
    •  
  • 7216 Mocha Drive Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,508 Sqft ∙ Built 1984 2 beds 2 baths ∙ 1,508 Sqft ∙ Built 1984
    LEASED 07/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.86
    •  
  • 1413 Wheatland Way Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,508 Sqft ∙ Built 1984 2 beds 2 baths ∙ 1,508 Sqft ∙ Built 1984
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.86
    •  
  • 6368 Blue Twilight Court #n/a Las Vegas, NV 4
    • 2 beds 3 baths ∙ 1,417 Sqft ∙ Built 2006 2 beds 3 baths ∙ 1,417 Sqft ∙ Built 2006
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.95
    •  
PROPERTY LISTING DETAILS
Brandy J White Elk
1.702.478.2242
Innovative Real Estate Strateg
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2246888
Last Updated: 11/09/2020
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