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6668 Silver Penny Avenue Las Vegas, NV 89108

3 Beds 2 Baths 1,249 sqft Built 1990

$239,900

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

December 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $192.07
  • 8 Days on Market
  • MLS # : 2253784
  • Updated Date : 12/14/2020 at 15:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,249 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

Fantastic one-story just needs a little TLC, 3 bed/2 bath home near shopping, freeway, and restaurants. Vaulted ceilings in living room and master bedroom, 2-car garage, low maintenance yard.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Sterling Springs

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $86k296k

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

Neighborhood: Sterling Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9201606

* 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
Irwin And Susan Molasky Junior High School Middle Regular 1,131 50 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

Irwin And Susan Molasky Junior High School

  • Education Level: Middle
  • # of students: 1,131
  • # of teachers: 50
NA
GreatSchools Rating

Cimarron Memorial High School

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

$215,910$263,890$239,900

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$885
Property Tax -$153
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
$101

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.

$239,900

PROJECTED PRICE

$1,310

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 14.3%
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$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$885

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

8.17

YEARS SAVED

$29,723

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,130

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,1703$1,1954$1,2005$1,310
$1,310
RENT COMPS ANALYSIS
  • 6668 Silver Penny Avenue Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,249 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,249 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $1.05
    •  
  • 2451 Rainbow Boulevard #2080 Las Vegas, NV 1
    • 3 beds 1 baths ∙ 1,237 Sqft ∙ Built 1988 3 beds 1 baths ∙ 1,237 Sqft ∙ Built 1988
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.89
    •  
  • 6908 Dorita Avenue #202 Las Vegas, NV 2
    • 3 beds 1 baths ∙ 1,321 Sqft ∙ Built 1997 3 beds 1 baths ∙ 1,321 Sqft ∙ Built 1997
    property image
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,170
    • $0.89
    •  
  • 6588 Woodsworth Avenue Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,315 Sqft ∙ Built 1997 3 beds 1 baths ∙ 1,315 Sqft ∙ Built 1997
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.91
    •  
  • 6704 Dorita Avenue #102 Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,289 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,289 Sqft ∙ Built 1996
    property image
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.93
    •  
PROPERTY LISTING DETAILS
Jason M Abrams
1.702.683.1800
Exp Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2253784
Last Updated: 12/14/2020
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