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6783 Flamenco Court Las Vegas, NV 89139

5 Beds 2 Baths 2,960 sqft Built 2012

$445,000

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $150.34
  • 4 Days on Market
  • MLS # : 2274397
  • Updated Date : 03/07/2021 at 06:16
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,960 sqft
  • Baths : 1 full , 1 half
Listing Agent

Huntington & Ellis, A Real Est

Listing Agent's Description

TRUE PRIDE OF OWNERSHIP! Stunning 3 Story home in the heart of Southwest Las Vegas. This home features a modern exterior elevation with a balcony, pavered driveway, and extended gated RV parking space. This home showcases an open and airy floor plan with beautiful upgrades from granite countertops in the kitchen, contemporary glass tile backsplash, stainless steel appliances, laminate wood flooring all throughout the main living areas and masters bedroom. The room on the 1st floor can be used as a 5th bedroom or an in home theatre room as room darkening window shades have been installed. Oversized masters bedroom with custom built closet. Built in storage shed in the backyard stays. Easy maintenance desert landscaping with designated dog run. Tankless water heater, water softener, and reverse osmosis convey. ALL appliances stay. Definitely one of a kind home that is worth seeing!

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
Mark L. Fine Elementary School Primary Regular 1,001 51 6
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Sierra Vista High School High Regular 2,396 88 4

Mark L. Fine Elementary School

  • Education Level: Primary
  • # of students: 1,001
  • # of teachers: 51
6
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
 

$400,500$489,500$445,000

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 -$1,546
Property Tax -$329
Property Insurance -$85
Property Management Fees -$119
CASH FLOW
$152

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.

$445,000

PROJECTED PRICE

$2,230

PROJECTED RENT

0.50%

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$1.2M$1.4M$1.6M$1.8M

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$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$123,675

INVESTMENT

$123,675

Down Payment
$111,250
Rehab Estimate
$5,750
Closing Costs
$6,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,546

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $111,250
Loan Amount $333,750
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$42,413

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
  • $0.75

    LIST RENT PER SQFT
  • $2,346

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,099
1$2,0992$2,2303$2,2504$2,4955$2,500
$2,500
RENT COMPS ANALYSIS
  • 6783 Flamenco Court Las Vegas, NV 2
    • 5 beds 2 baths ∙ 2,960 Sqft ∙ Built 2012 5 beds 2 baths ∙ 2,960 Sqft ∙ Built 2012
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $0.75
    •  
  • 6467 Parrot Ridge Court Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,971 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,971 Sqft ∙ Built 2013
    property image
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,099
    • $0.71
    •  
  • 6603 Musette Avenue Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,971 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,971 Sqft ∙ Built 2010
    property image
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.76
    •  
  • 6546 Creekside Cellars Court Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,900 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,900 Sqft ∙ Built 2017
    property image
    LEASED 10/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.86
    •  
  • 6754 Bel Canto Court Las Vegas, NV 5
    • 5 beds 3 baths ∙ 2,960 Sqft ∙ Built 2013 5 beds 3 baths ∙ 2,960 Sqft ∙ Built 2013
    property image
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.84
    •  
PROPERTY LISTING DETAILS
Mariel Pamintuan-esguerr
1.702.340.5795
Huntington & Ellis, A Real Est
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2274397
Last Updated: 03/07/2021
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