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6737 Upper Mesa Court North Las Vegas, NV 89084

4 Beds 3 Baths 2,518 sqft Built 2012

$399,999

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $158.86
  • 6 Days on Market
  • MLS # : 2248778
  • Updated Date : 11/18/2020 at 14:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,518 sqft
  • Baths : 3 full
Listing Agent

Signature Real Estate Group

Listing Agent's Description

Excellent 4 bedrooms and 3 full baths. Bedroom and Full bath downstairs and primary and 2 bedrooms upstairs. Large loft upstairs and great room down stairs for entertaining. Open Kitchen with Granite countertops and Stainless Steel Appliances. Large Primary Bedroom with huge walk in closet. Master Bath has dual sinks and roman tub and shower. Outside has a covered patio and full landscaping.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: El Dorado

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $110k347k

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

Neighborhood: El Dorado

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9671606

* 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
Theron And Naomi Goynes Elementary School Primary Regular 896 41 7
Brian And Teri Cram Middle School Middle Regular 1,568 65 NA
Legacy High School High Regular 2,819 119 3

Theron And Naomi Goynes Elementary School

  • Education Level: Primary
  • # of students: 896
  • # of teachers: 41
7
GreatSchools Rating

Brian And Teri Cram Middle School

  • Education Level: Middle
  • # of students: 1,568
  • # of teachers: 65
NA
GreatSchools Rating

Legacy High School

  • Education Level: High
  • # of students: 2,819
  • # of teachers: 119
3
GreatSchools Rating
 

$359,999$439,999$399,999

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,476
Property Tax -$318
Property Insurance -$76
Property Management Fees -$119
CASH FLOW
-$29

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.

$399,999

PROJECTED PRICE

$1,960

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.8%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,000
Loan Amount $299,999
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$27,754

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,926

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9493$1,9504$1,9605$2,000
$2,000
RENT COMPS ANALYSIS
  • 6737 Upper Mesa Court North Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,518 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,518 Sqft ∙ Built 2012
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.78
    •  
  • 2113 Baywater Avenue North Las Vegas, NV 1
    • 3 beds 2 baths ∙ 2,700 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,700 Sqft ∙ Built 2006
    property image
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.69
    •  
  • 1904 La Calera Avenue North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,320 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,320 Sqft ∙ Built 2008
    property image
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,949
    • $0.84
    •  
  • 6711 Surfbird North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,678 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,678 Sqft ∙ Built 2004
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.73
    •  
  • 7144 Charter Crest Street #0 North Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,512 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,512 Sqft ∙ Built 2006
    property image
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.80
    •  
PROPERTY LISTING DETAILS
Andrew Lunsford
1.702.415.4819
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2248778
Last Updated: 11/18/2020
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