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6677 Brick House Avenue Las Vegas, NV 89122

4 Beds 3 Baths 1,836 sqft Built 2006

INVESTimate

$259,000

List Price

$1,540

$1,386 - $1,694

Rent Est.

$287,671  ( +11.07%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $141.07
  • 2 Days on Market
  • MLS # : 2224827
  • Updated Date : 08/25/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,836 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Americana

Listing Agent's Description

4 Bedroom 3 bath 2 story home in great condition. Separate Downstairs Laundry room,... Solid surface Counter tops, backsplash in open concept kitchen. Near Sam Boyd Stadium, Casinos, Shopping, Soccer Park! Low HOA, near parks and Duck Creek. Unique Cul de Sac with additional parking across the street. 2 Car Garage. All Appliances including washer, dryer Fridge. Appliances are sold as is. Backyard and covered Patio.

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

Zip Code: 89122

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Zip Code: 89122

ZipNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
Sister Robert Joseph Bailey Elementary School Primary Regular 839 46 4
Francis Cortney Middle School Middle Regular 1,235 52 NA
Basic High School High Regular 2,367 100 3

Sister Robert Joseph Bailey Elementary School

  • Education Level: Primary
  • # of students: 839
  • # of teachers: 46
4
GreatSchools Rating

Francis Cortney Middle School

  • Education Level: Middle
  • # of students: 1,235
  • # of teachers: 52
NA
GreatSchools Rating

Basic High School

  • Education Level: High
  • # of students: 2,367
  • # of teachers: 100
3
GreatSchools Rating
 

$233,100$284,900$259,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

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$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$956
Property Tax -$199
Property Insurance -$63
HOA -$38
Property Management Fees -$119
CASH FLOW
$166

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.

$259,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.07%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,385

INVESTMENT

$74,385

Down Payment
$64,750
Rehab Estimate
$5,750
Closing Costs
$3,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$956

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,750
Loan Amount $194,250
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$34,090

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,506

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,4503$1,4954$1,5005$1,540
$1,540
RENT COMPS ANALYSIS
  • 6677 Brick House Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,836 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,836 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.84
    •  
  • 6709 Brick House Avenue Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,847 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,847 Sqft ∙ Built 2006
    property image
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.77
    •  
  • 6732 Fort Benton Road #. Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,821 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,821 Sqft ∙ Built 2007
    property image
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.80
    •  
  • 6659 Brick House Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 2006
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.90
    •  
  • 6730 Frances Celia Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,847 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,847 Sqft ∙ Built 2006
    property image
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.81
    •  
PROPERTY LISTING DETAILS
Anita K Wizemann
1.702.696.8255
Century 21 Americana
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224827
Last Updated: 08/25/2020
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