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6699 Catoctin Avenue 
Las Vegas, NV
89139
3 Beds 3 Baths 1,230 sqft
Built 2004
INVESTimate
$242,000
List Price
$69,880
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PROPERTY INFO
FACTS
- Built In 2004
- Price/Sqft : $196.75
- 2 Days on Market
- MLS # : 2224628
- Updated Date : 08/25/2020 at 14:00
CONSTRUCTION
- Beds : 3
- Floor Size : 1,230 sqft
- Baths : 2 full , 1 half
Listing Agent
Wardley Real Estate
Listing Agent's Description
Resplendent 2-story home in a quiet SW community with elegant curb appeal. The entire interior has just been freshly painted & sports brand-new carpet throughout the entire 2nd floor & on the staircase. The huge living room features attractive wood laminate & ceramic tile floors accented by many bright windows! Crisp, clean walls are illuminated by the flow of natural light into each room. Prepare gourmet meals in the charming kitchen with modern appliances, custom cabinets & stainless steel sink. A restful sleep awaits in the 3 bedrooms upstairs, each lined with new carpets. Brand-new sinks adorn each upstairs bathroom. Enjoy cocktails drenched in sunlight on the quaint upstairs balcony, or dine on quiet breakfasts under the covered front patio. Elegant, easy-maintenance landscaping completes this perfect picture. Located close to shops, restaurants & schools, this tranquil community includes convenient amenities such as a playground, park, BBQ area & swimming pools. Come visit today!
SEE MORE
- 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: Coronado Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Coronado Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,180 |
| EXPENSES | Loan Payment | -$893 |
| Property Tax | -$156 | |
| Property Insurance | -$51 | |
| HOA | -$65 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$104
|
||
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.
$242,000
PROJECTED PRICE
$1,180
PROJECTED RENT
0.49%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.96% |
| Appreciation Year (1-5) | 9.25% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.63% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$69,880
LOAN DETAILS
$893
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $60,500 |
| Loan Amount | $181,500 |
3.67
YEARS SAVED
$9,517
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,180
LIST RENT -
$0.96
LIST RENT PER SQFT
-
$1,178
COMP ESTIMATED VALUE -
$0.96
COMP AVG. RENT PER SQFT
Comps Range
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6699 Catoctin Avenue Las Vegas, NV 1
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- Rent Per SQFT
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- $0.96
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LEASED 10/18/19- Rent
- Rent Per SQFT
- $1,300
- $0.93
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7554 Bear River Court Las Vegas, NV 5
- 3 beds 2 baths ∙ 1,369 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,369 Sqft ∙ Built 2002
LEASED 06/01/20- Rent
- Rent Per SQFT
- $1,350
- $0.99
PROPERTY LISTING DETAILS
1.415.971.3379
Wardley Real Estate
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2224628
Last Updated: 08/25/2020
