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6760 Mountridge Drive Las Vegas, NV 89110

4 Beds 2 Baths 2,556 sqft Built 1975

$489,999

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $191.71
  • 4 Days on Market
  • MLS # : 2261820
  • Updated Date : 01/16/2021 at 01:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,556 sqft
  • Baths : 2 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Hunny, are you sure we're in Las Vegas?! Beautiful 1 Story Ranch style home sits on over 20,000 sq ft lot! The strip views are incredible and the brisk mountain views are jaw dropping. Homes completely remodeled-beauiful kitchen that opens to a kitchen nook with sightlines to the courtyard STRIP & downtown views, you'll never complain about doing the dishes in your apron front farm sink looking out to the MTNS! Enjoy walking through the naturally lit open hallways with a big smile remindng yourself you live here. Seperate great room perfect for cuddling up next to the fire or binge watcing your favorite show while the kids play board games! Plenty of space 4 bedroom, 3 bath, now more than ever we are home- this house is perfect for entertaining family and never feeling crammed! Endless opportunity awaits in your backyard! Horse stables for rent seconds away from your personal backyard trail! Brandnew SS appliances. Ask about the community ammenities!!

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: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9591603

* 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
Eileen Brookman Elementary School Primary Regular 753 35 5
Dr. William H Bob Bailey Middle School Middle Regular 1,202 49 NA
Eldorado High School High Regular 1,920 76 1

Eileen Brookman Elementary School

  • Education Level: Primary
  • # of students: 753
  • # of teachers: 35
5
GreatSchools Rating

Dr. William H Bob Bailey Middle School

  • Education Level: Middle
  • # of students: 1,202
  • # of teachers: 49
NA
GreatSchools Rating

Eldorado High School

  • Education Level: High
  • # of students: 1,920
  • # of teachers: 76
1
GreatSchools Rating
 

$440,999$538,999$489,999

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,702
Property Tax -$211
Property Insurance -$77
Property Management Fees -$119
CASH FLOW
$121

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.

$489,999

PROJECTED PRICE

$2,230

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.8%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

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

$1,702

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $122,500
Loan Amount $367,499
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$40,324

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,230

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,786

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,230
1$2,2302$2,500
$2,500
RENT COMPS ANALYSIS
  • 6760 Mountridge Drive Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,556 Sqft ∙ Built 1975 4 beds 2 baths ∙ 2,556 Sqft ∙ Built 1975
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $0.87
    •  
  • 7039 East Mesquite Avenue Las Vegas, NV 2
    • 5 beds 3 baths ∙ 2,296 Sqft ∙ Built 1974 5 beds 3 baths ∙ 2,296 Sqft ∙ Built 1974
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.09
    •  
PROPERTY LISTING DETAILS
Sarah K Gabany
1.858.722.8264
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261820
Last Updated: 01/16/2021
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