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6687 Higger Tor Avenue Las Vegas, NV 89139

2 Beds 3 Baths 1,535 sqft Built 2005

$267,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $173.94
  • 3 Days on Market
  • MLS # : 2243962
  • Updated Date : 11/01/2020 at 17:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,535 sqft
  • Baths : 2 full , 1 half
Listing Agent

Heartland Realty

Listing Agent's Description

***WOW*** This is a NO WORRIES sale. A certified appraisal was just completed and we priced it below appraised value for a quick and easy sale and no guessing the real value. Need any buyer closing costs? No problem. A certified prelisting inspection was completed and deficiencies will be corrected prior to close. The Appraisal and full inspection report is available for your review upon request. Great home in a development with nice amenities. Owners suite has a separate office, covered deck, TWO walk in closets. OUTSTANDING!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Coronado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $119k352k

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

Neighborhood: Coronado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9561622

* 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
Tony Alamo Elementary School Primary Regular 961 51 7
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Sierra Vista High School High Regular 2,396 88 4

Tony Alamo Elementary School

  • Education Level: Primary
  • # of students: 961
  • # of teachers: 51
7
GreatSchools Rating

Lawrence And Heidi Canarelli Middle School

  • Education Level: Middle
  • # of students: 1,802
  • # of teachers: 70
NA
GreatSchools Rating

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

$240,300$293,700$267,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$985
Property Tax -$181
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
$148

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.

$267,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.3%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$76,505

INVESTMENT

$76,505

Down Payment
$66,750
Rehab Estimate
$5,750
Closing Costs
$4,005

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$985

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,750
Loan Amount $200,250
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$37,100

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,543

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3503$1,3504$1,4505$1,490
$1,490
RENT COMPS ANALYSIS
  • 6687 Higger Tor Avenue Las Vegas, NV 5
    • 2 beds 3 baths ∙ 1,535 Sqft ∙ Built 2005 2 beds 3 baths ∙ 1,535 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.97
    •  
  • 7059 Palisade Grove Court Las Vegas, NV 1
    • 2 beds 2 baths ∙ 1,315 Sqft ∙ Built 2003 2 beds 2 baths ∙ 1,315 Sqft ∙ Built 2003
    LEASED 06/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.03
    •  
  • 7067 Palisade Grove Court #0 Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,315 Sqft ∙ Built 2003 2 beds 2 baths ∙ 1,315 Sqft ∙ Built 2003
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.03
    •  
  • 7586 Peavine Ridge Street Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,389 Sqft ∙ Built 2002 2 beds 2 baths ∙ 1,389 Sqft ∙ Built 2002
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.97
    •  
  • 7004 Bodega Point Court Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,468 Sqft ∙ Built 2004 2 beds 2 baths ∙ 1,468 Sqft ∙ Built 2004
    LEASED 07/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.99
    •  
PROPERTY LISTING DETAILS
Stephen M Murphy
1.702.301.7806
Heartland Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243962
Last Updated: 11/01/2020
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