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6687 Tangled Vines Avenue Las Vegas, NV 89139

4 Beds 3 Baths 2,988 sqft Built 2019

$610,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2019
  • Price/Sqft : $204.15
  • 3 Days on Market
  • MLS # : 2246607
  • Updated Date : 11/07/2020 at 10:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,988 sqft
  • Baths : 2 full , 1 half
Listing Agent

Win Win Real Estate

Listing Agent's Description

GORGEOUS 2 STORY AMERICA WEST HOME. BUILT IN 2019 AND HIGHLY UPGRADED. OPEN FLOOR PLAN WITH A GREAT ROOM. DOWNSTAIRS BEDROOM WITH PRIVATE BATHROOM. UPSTAIRS HAS A OPEN LOFT WITH A CLOSET. DON'T LOOK ANY FURTHER AS THIS HOME IS THE ONE.

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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: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
Mark L. Fine Elementary School Primary Regular 1,001 51 6
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Sierra Vista High School High Regular 2,396 88 4

Mark L. Fine Elementary School

  • Education Level: Primary
  • # of students: 1,001
  • # of teachers: 51
6
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
 

$549,000$671,000$610,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$2,251
Property Tax -$382
Property Insurance -$85
Property Management Fees -$119
CASH FLOW
-$617

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 11% of earned rent to cover both maintenance and periods of vacancy.

$610,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.8%
Maintenance Year (1-5) 3.00%
Vacancy 7.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$163,650

INVESTMENT

$163,650

Down Payment
$152,500
Rehab Estimate
$2,000
Closing Costs
$9,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,251

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $152,500
Loan Amount $457,500
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$4,766

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,241

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,951
1$1,9512$2,1003$2,2204$2,2505$2,495
$2,495
RENT COMPS ANALYSIS
  • 6687 Tangled Vines Avenue Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,988 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,988 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.74
    •  
  • 6522 Creekside Cellars Court Las Vegas, NV 1
    • 5 beds 4 baths ∙ 2,900 Sqft ∙ Built 2017 5 beds 4 baths ∙ 2,900 Sqft ∙ Built 2017
    LEASED 10/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,951
    • $0.67
    •  
  • 6387 Tomahawk Mill Court Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,971 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,971 Sqft ∙ Built 2013
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.71
    •  
  • 6603 Musette Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,971 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,971 Sqft ∙ Built 2010
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.76
    •  
  • 6546 Creekside Cellars Court Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,900 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,900 Sqft ∙ Built 2017
    LEASED 10/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.86
    •  
PROPERTY LISTING DETAILS
Son Olney
1.702.810.1420
Win Win Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2246607
Last Updated: 11/07/2020
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