Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

6721 Boom Town Drive Las Vegas, NV 89122

4 Beds 3 Baths 2,162 sqft Built 2012

INVESTimate

$304,999

List Price

$1,600

$1,440 - $1,760

Rent Est.

$338,762  ( +11.07%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2012
  • Price/Sqft : $141.07
  • 4 Days on Market
  • MLS # : 2224318
  • Updated Date : 08/25/2020 at 09:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,162 sqft
  • Baths : 2 full , 1 half
Listing Agent

Love Local Real Estate

Listing Agent's Description

Beautiful 2 story home in a gated community with a community pool, park, spa and playground. This 4 bedroom with a loft is the perfect place to call home. Kitchen has custom cabinets , granite countertops and tile flooring which opens up into a large living room for the perfect entertaining situation. Upstairs has the Master bedroom with vaulted ceilings , wide hallways and laundry room all upstairs along with 3 other bedrooms to make this home complete. Close to shopping , Parks, Freeways and much , much more. Make sure this is on the must see list today.

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

Zip Code: 89122

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Zip Code: 89122

ZipNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
Josh Stevens Elementary School Primary Unknown NA
Francis Cortney Middle School Middle Regular 1,235 52 NA
Basic High School High Regular 2,367 100 3

Josh Stevens Elementary School

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

Francis Cortney Middle School

  • Education Level: Middle
  • # of students: 1,235
  • # of teachers: 52
NA
GreatSchools Rating

Basic High School

  • Education Level: High
  • # of students: 2,367
  • # of teachers: 100
3
GreatSchools Rating
 

$274,499$335,499$304,999

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,125
Property Tax -$241
Property Insurance -$69
HOA -$70
Property Management Fees -$119
CASH FLOW
-$25

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$304,999

PROJECTED PRICE

$1,600

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.07%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,250
Loan Amount $228,749
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$17,354

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,649

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,4953$1,5504$1,6005$1,660
$1,660
RENT COMPS ANALYSIS
  • 6721 Boom Town Drive Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,162 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,162 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.74
    •  
  • 6758 Crystal Run Lane Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,979 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,979 Sqft ∙ Built 2012
    LEASED 10/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.76
    •  
  • 5668 Diamond Palm Court Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,031 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,031 Sqft ∙ Built 2007
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.74
    •  
  • 6749 Prairie Dusk Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,979 Sqft ∙ Built 2012 4 beds 3 baths ∙ 1,979 Sqft ∙ Built 2012
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.78
    •  
  • 6696 Boom Town Drive Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,162 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,162 Sqft ∙ Built 2012
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.77
    •  
PROPERTY LISTING DETAILS
Aaron Smith
1.702.813.6392
Love Local Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224318
Last Updated: 08/25/2020
BESbswy