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6710 Arville Street Las Vegas, NV 89118

4 Beds 3 Baths 2,262 sqft Built 1994

$490,000

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $216.62
  • 34 Days on Market
  • MLS # : 2239326
  • Updated Date : 11/12/2020 at 11:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,262 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

BIG LOT! BIGGER VALUE! WITH ENDLESS POSSIBILITIES! in this EQUESTRIAN/HORSE FRIENDLY RURAL ESTATE in the SW NEAR ALLEGIANT STADUIM and SOUTH STRIP! HOUSE FEATURING: almost 1/2 ACRE, SINGLE STORY 4 BDS 2 1/2 FULL BATHS 3 CAR GARAGE RV PARKING. STAINED CONCRETE, TRAVERTINE, BAMBOO FLOORING, CUSTOM WOOD kitchen countertops,OPEN FLOOR PLAN, FIRE PLACE, SOLAR,SOLAR SCREENS, CRAFT ROOM/SPACE IN GARAGE . MORE PICTURES COMING SOON! **NO HOA**

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Dr. Beverly S. Mathis Elementary School Primary Unknown NA
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Desert Oasis High School High Regular 2,417 102 5

Dr. Beverly S. Mathis Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Lawrence And Heidi Canarelli Middle School

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

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$441,000$539,000$490,000

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,808
Property Tax -$319
Property Insurance -$71
Property Management Fees -$119
CASH FLOW
-$206

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.

$490,000

PROJECTED PRICE

$2,110

PROJECTED RENT

0.43%

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) 8.00%
Vacancy 7.57%
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$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$135,600

INVESTMENT

$135,600

Down Payment
$122,500
Rehab Estimate
$5,750
Closing Costs
$7,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,808

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $122,500
Loan Amount $367,500
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$20,775

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,730

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6953$1,8004$1,8505$2,110
$2,110
RENT COMPS ANALYSIS
  • 6710 Arville Street Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,262 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,262 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $0.93
    •  
  • 7577 Shiny Bangle Court Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,991 Sqft ∙ Built 2011 3 beds 3 baths ∙ 1,991 Sqft ∙ Built 2011
    property image
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.80
    •  
  • 7733 Hardesty Court Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,220 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,220 Sqft ∙ Built 2002
    property image
    LEASED 08/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.76
    •  
  • 5271 Valencia Crest Avenue Las Vegas, NV 3
    • 5 beds 3 baths ∙ 2,443 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,443 Sqft ∙ Built 2005
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.74
    •  
  • 4987 Canadian Lynx Court Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,444 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,444 Sqft ∙ Built 2008
    property image
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.76
    •  
PROPERTY LISTING DETAILS
Fernando Mendoza
1.702.400.1203
Exp Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2239326
Last Updated: 11/12/2020
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