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6802 Nickel Mine Avenue Las Vegas, NV 89122

3 Beds 3 Baths 1,362 sqft Built 2006

$239,988

List Price

$1,200

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $176.20
  • 3 Days on Market
  • MLS # : 2276523
  • Updated Date : 03/06/2021 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,362 sqft
  • Baths : 3 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Charming 2 story, single family home featuring 3 bedrooms, 3 bathrooms (one bedroom on first floor with a full bath) and 1 car garage. Kitchen features granite counter tops with all appliances included. Home is nested in a gated community with a community swimming pool, basketball courts, clubhouse and recreational center. Home is close to Sam Boyd Stadium, Wetlands Park and Silver Bowl Park. Great layout, Must See!

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

Zip Code: 89122

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Zip Code: 89122

ZipNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
Josh Stevens Elementary School Primary Unknown NA
Francis Cortney Middle School Middle Regular 1,235 52 NA
Basic High School High Regular 2,367 100 3

Josh Stevens Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Francis Cortney Middle School

  • Education Level: Middle
  • # of students: 1,235
  • # of teachers: 52
NA
GreatSchools Rating

Basic High School

  • Education Level: High
  • # of students: 2,367
  • # of teachers: 100
3
GreatSchools Rating
 

$215,989$263,987$239,988

PURCHASE PRICE

$1,080$1,320$1,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,200
EXPENSES Loan Payment -$834
Property Tax -$163
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
$31

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.

$239,988

PROJECTED PRICE

$1,200

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.1%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,347

INVESTMENT

$69,347

Down Payment
$59,997
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,997
Loan Amount $179,991
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$16,190

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,200

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,188

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,3253$1,3504$1,3505$1,395
$1,395
RENT COMPS ANALYSIS
  • 6802 Nickel Mine Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,362 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,362 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.88
    •  
  • 5998 Jagged Cut Street #103 Henderson, NV 2
    • 3 beds 3 baths ∙ 1,553 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,553 Sqft ∙ Built 2002
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.85
    •  
  • 6474 Stone Dry Avenue #103 Henderson, NV 3
    • 3 beds 3 baths ∙ 1,553 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,553 Sqft ∙ Built 2003
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.87
    •  
  • 5948 High Steed Street #103 Henderson, NV 4
    • 3 beds 3 baths ∙ 1,553 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,553 Sqft ∙ Built 2001
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.87
    •  
  • 5291 Broadlake Lane Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 2006
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.90
    •  
PROPERTY LISTING DETAILS
Jeanette H Cruz
1.702.682.7770
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2276523
Last Updated: 03/06/2021
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