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6663 Costa Brava Road Las Vegas, NV 89146

4 Beds 2 Baths 2,235 sqft Built 1979

$520,000

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 29, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $232.66
  • 6 Days on Market
  • MLS # : 2256638
  • Updated Date : 01/02/2021 at 19:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,235 sqft
  • Baths : 2 full
Listing Agent

Luxury Homes Of Las Vegas

Listing Agent's Description

Amazing renovation, no expense spared! All NEW! No HOA. 2,466 total SQ ft. New Kitchen cabinets, Top rated Appliances & Italian Granite counter tops and Backsplash, New Black SST appliances, New Gas cooktop with Chef Hood and Pot filler and Double Wall/Micro oven, Samsung Smart Fridge, walk in pantry, wet bar for entertaining, New Double pane windows and New Doors, Electric shutters on front and backyard door. Both Bathrooms new with granite counters, Granite Primary Bath with walk in Shower, has Spa Jets and Rainfall. New flooring, New Paint, New Faucet, new light fixtures and fans, RV parking, Refreshing Pool and Spa, 3 Car Garage. Conveniently located to HWY 95 & I15, 3.3 miles to the Strip, 15 mins to downtown Summerlin and Red Rock Canyon. Come and see this amazing house, you will not be disappointed!

SEE MORE

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: 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
 

$468,000$572,000$520,000

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,919
Property Tax -$242
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
-$340

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.

$520,000

PROJECTED PRICE

$2,010

PROJECTED RENT

0.39%

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-$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$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$143,550

INVESTMENT

$143,550

Down Payment
$130,000
Rehab Estimate
$5,750
Closing Costs
$7,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,919

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $130,000
Loan Amount $390,000
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$13,337

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,727

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,6954$1,8005$2,010
$2,010
RENT COMPS ANALYSIS
  • 6663 Costa Brava Road Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,235 Sqft ∙ Built 1979 4 beds 2 baths ∙ 2,235 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.90
    •  
  • 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
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.74
    •  
  • 6793 Calella Drive Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,205 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,205 Sqft ∙ Built 1977
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.72
    •  
  • 6352 Sandpiper Way Las Vegas, NV 3
    • 4 beds 1 baths ∙ 2,128 Sqft ∙ Built 1977 4 beds 1 baths ∙ 2,128 Sqft ∙ Built 1977
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.80
    •  
  • 7089 Mountain Moss Drive Las Vegas, NV 4
    • 5 beds 2 baths ∙ 2,156 Sqft ∙ Built 1980 5 beds 2 baths ∙ 2,156 Sqft ∙ Built 1980
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.83
    •  
PROPERTY LISTING DETAILS
Roseanne C Luera
1.702.406.1910
Luxury Homes Of Las Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2256638
Last Updated: 01/02/2021
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