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6716 Sheffield Drive Las Vegas, NV 89108

2 Beds 1 Baths 1,265 sqft Built 1984

INVESTimate

$225,000

List Price

$1,140

$1,026 - $1,254

Rent Est.

$249,053  ( +10.69%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1984
  • Price/Sqft : $177.87
  • 5 Days on Market
  • MLS # : 2223645
  • Updated Date : 08/22/2020 at 23:30
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,265 sqft
  • Baths : 1 full
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

Highly desired 2 story with NO HOA! Neighborhood shows pride of ownership reminiscent of "old Vegas". Galley kitchen design with white appliances and lots of storage. Dual Master bedroom design, One up and one down. Down has w/2 master closets & patio slider to outside. Upper Master has a walk in closet & access to the great loft/study that over looks the Living room and fireplace. Backyard is excellent w/ a large covered patio & additional paved parking for toys behind a gate. Close to 95 Freeway access and tons of shopping. Just perfect!

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

Neighborhood: North Cheyenne

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k302k

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

Neighborhood: North Cheyenne

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10011606

* 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
Ruthe Deskin Elementary School Primary Regular 624 36 6
Justice M E Leavitt Middle School Middle Regular 1,496 64 NA
Centennial High School High Regular 3,055 124 6

Ruthe Deskin Elementary School

  • Education Level: Primary
  • # of students: 624
  • # of teachers: 36
6
GreatSchools Rating

Justice M E Leavitt Middle School

  • Education Level: Middle
  • # of students: 1,496
  • # of teachers: 64
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,026$1,254$1,140

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,140
EXPENSES Loan Payment -$830
Property Tax -$123
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
$16

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.

$225,000

PROJECTED PRICE

$1,140

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.69%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$19,762

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,140

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,164

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,140
1$1,1402$1,2003$1,2004$1,2505$1,250
$1,250
RENT COMPS ANALYSIS
  • 6716 Sheffield Drive Las Vegas, NV 1
    • 2 beds 1 baths ∙ 1,265 Sqft ∙ Built 1984 2 beds 1 baths ∙ 1,265 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,140
    • $0.90
    •  
  • 6509 Hillside Brook Avenue Las Vegas, NV 2
    • 2 beds 3 baths ∙ 1,265 Sqft ∙ Built 1997 2 beds 3 baths ∙ 1,265 Sqft ∙ Built 1997
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.95
    •  
  • 7224 Diamond Hope Court Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,271 Sqft ∙ Built 2004 2 beds 2 baths ∙ 1,271 Sqft ∙ Built 2004
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.94
    •  
  • 6428 Angel Mountain Avenue #0 Las Vegas, NV 4
    • 2 beds 3 baths ∙ 1,412 Sqft ∙ Built 1996 2 beds 3 baths ∙ 1,412 Sqft ∙ Built 1996
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.89
    •  
  • 4950 Black Bear #204 Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,394 Sqft ∙ Built 1999 2 beds 2 baths ∙ 1,394 Sqft ∙ Built 1999
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.90
    •  
PROPERTY LISTING DETAILS
Kameron L Kildea
1.702.561.6666
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223645
Last Updated: 08/22/2020
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