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6768 Eldora Avenue Las Vegas, NV 89146

3 Beds 3 Baths 2,295 sqft Built 1986

INVESTimate

$569,000

List Price

$1,790

$1,611 - $1,969

Rent Est.

$625,388  ( +9.91%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $247.93
  • 6 Days on Market
  • MLS # : 2223587
  • Updated Date : 08/24/2020 at 00:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,295 sqft
  • Baths : 3 full
Listing Agent

Exp Realty

Listing Agent's Description

Immaculately Maintained Semi Custom Home in the Heart of Las Vegas. 3 Bedroom 3 bath + Den. Oversized RV Gate and RV Parking Plus 3 Car Garage. All Bathrooms Have Been Beautifully Renovated. Huge Master with Balcony and Spiral Staircase. Sparkling, Meticulously Maintained Pool and Spa, Covered Patio and So Much More! Centrally Located, Minutes to the Strip.

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: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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
R. Guild Gray Elementary School Primary Regular 521 24 5
Kenny C. Guinn Middle School Middle Regular 820 40 NA
Bonanza High School High Regular 2,003 83 3

R. Guild Gray Elementary School

  • Education Level: Primary
  • # of students: 521
  • # of teachers: 24
5
GreatSchools Rating

Kenny C. Guinn Middle School

  • Education Level: Middle
  • # of students: 820
  • # of teachers: 40
NA
GreatSchools Rating

Bonanza High School

  • Education Level: High
  • # of students: 2,003
  • # of teachers: 83
3
GreatSchools Rating
 

$512,100$625,900$569,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

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-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$2,099
Property Tax -$274
Property Insurance -$72
HOA -$157
Property Management Fees -$119
CASH FLOW
-$931

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.

$569,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.91%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$156,535

INVESTMENT

$156,535

Down Payment
$142,250
Rehab Estimate
$5,750
Closing Costs
$8,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$2,099

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $142,250
Loan Amount $426,750
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$72

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,888

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,580
1$1,5802$1,7503$1,7904$1,8505$2,050
$2,050
RENT COMPS ANALYSIS
  • 6768 Eldora Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,295 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,295 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.78
    •  
  • 6762 Carrera Drive #0 Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,967 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,967 Sqft ∙ Built 1973
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.80
    •  
  • 3668 Redwood Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,947 Sqft ∙ Built 1974 4 beds 3 baths ∙ 1,947 Sqft ∙ Built 1974
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.90
    •  
  • 2660 Rosanna Street Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,322 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,322 Sqft ∙ Built 1994
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.80
    •  
  • 6618 Coley Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,608 Sqft ∙ Built 1973 3 beds 3 baths ∙ 2,608 Sqft ∙ Built 1973
    LEASED 04/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.79
    •  
PROPERTY LISTING DETAILS
Pamela L Junge
1.702.812.6339
Exp Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223587
Last Updated: 08/24/2020
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