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6721 Burbage Avenue Las Vegas, NV 89139

2 Beds 3 Baths 1,277 sqft Built 2004

$250,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $195.77
  • 3 Days on Market
  • MLS # : 2261198
  • Updated Date : 01/16/2021 at 03:56
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,277 sqft
  • Baths : 2 full , 1 half
Listing Agent

Signature Real Estate Group

Listing Agent's Description

Stunning recently updated/upgraded - Reversed two Story Layout!! Home features 2 bedrooms with Owner's Suite on the Upper Level, 2. 5 bathrooms, single car garage in 1277 sq ft of living space. The unique home includes One Bedroom on the lower level with a separate sitting area and fireplace. The Upper level includes an open concept for the Kitchen, living spaces, Owner's Suite, dining area, and off the dining area is a private balcony. Entertain in style at the community pool or relax on your patio. Located Near Rainbow & Warm springs, in the highly coveted Southwest area of Las Vegas. This Listing is By APPOINTMENT only!So, Call Aisha Sotelo today for scheduling.

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: Coronado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $119k352k

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

Neighborhood: Coronado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9561622

* 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
Tony Alamo Elementary School Primary Regular 961 51 7
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Sierra Vista High School High Regular 2,396 88 4

Tony Alamo Elementary School

  • Education Level: Primary
  • # of students: 961
  • # of teachers: 51
7
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
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$868
Property Tax -$158
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
$153

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.

$250,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

9.17

YEARS SAVED

$30,869

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,347

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3503$1,4994$1,5505$1,595
$1,595
RENT COMPS ANALYSIS
  • 6721 Burbage Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,277 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,277 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.06
    •  
  • 7554 Bear River Court Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,369 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,369 Sqft ∙ Built 2002
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.99
    •  
  • 7386 Burnt Umber Street Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,467 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,467 Sqft ∙ Built 2007
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $1.02
    •  
  • 7312 Divine Ridge Street Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,389 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,389 Sqft ∙ Built 2004
    property image
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.12
    •  
  • 7384 Lagoon Blue Street Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,467 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,467 Sqft ∙ Built 2006
    property image
    LEASED 12/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.09
    •  
PROPERTY LISTING DETAILS
Aisha Sotelo
1.702.325.5098
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261198
Last Updated: 01/16/2021
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