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6803 Mataro Drive Las Vegas, NV 89103

4 Beds 2 Baths 2,205 sqft Built 1976

$347,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $157.37
  • 2 Days on Market
  • MLS # : 2271894
  • Updated Date : 02/28/2021 at 04:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,205 sqft
  • Baths : 1 full , 1 half
Listing Agent

Galindo Group Real Estate

Listing Agent's Description

GORGEOUS 4 BEDROOM 3 BATHROOM TWO STORY HOME WITH RV GATE AND NO HOA. WALK IN THE FRONT DOOR TO VAULTED CEILINGS, A SUNKEN FRONT ROOM, AND LUXURY VINYL/TILE THROUGHOUT THE DOWNSTAIRS. MAKE YOUR WAY THROUGH THE FRONT ROOM TO A SEPARATE DINING ROOM. NEXT STOP IS THE UPDATED OPEN AIRY KITCHEN. THE KITCHEN BOASTS A SAMSUNG 5 BURNER CHEF STOVE, BLUETOOTH HOOD VENT, AND DOUBLE OVEN. JOURNEY TO THE LIVING ROOM TO FIND BEAUTIFUL EXPOSED WOODEN BEAMS, FIREPLACE, BUILT IN BAR WITH SINK, AND SPEAKER PRE-WIRES. DOWNSTAIRS ALSO OFFERS A LAUNDRY ROOM WITH CABINETS. WANDER UPSTAIRS TO FIND 4 BEDROOMS AND 2 BATHROOMS; ALL BEDROOMS HAVE CEILINGS FANS WITH LIGHTS. THE PRIMARY BEDROOM OFFERS UPDATED CABINETS WITH A STAND-UP SHOWER AND WALK-IN CLOSET. GO THROUGH THE SLIDER OUTSIDE TO THE LUSH GREEN BACKYARD OFFERING A COVERED PATIO, REAL GRASS, AND AN RV GATE. THIS HOME HAS NEW UPGRADED WINDOWS THROUGHOUT, NEW UPDATED ELECTRICAL PANEL, AND A BRAND NEW WATER LINE INSTALLED FROM THE STREET TO THE HOUSE.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
C.h. Decker Elementary School Primary Regular 698 36 3
Kenny C. Guinn Middle School Middle Regular 820 40 NA
Durango High School High Regular 2,302 95 5

C.h. Decker Elementary School

  • Education Level: Primary
  • # of students: 698
  • # of teachers: 36
3
GreatSchools Rating

Kenny C. Guinn Middle School

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

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$312,300$381,700$347,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,205
Property Tax -$139
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
$107

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.

$347,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.9%
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$97,705

INVESTMENT

$97,705

Down Payment
$86,750
Rehab Estimate
$5,750
Closing Costs
$5,205

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,205

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,750
Loan Amount $260,250
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$33,466

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,775

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6003$1,6404$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 6803 Mataro Drive Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,205 Sqft ∙ Built 1976 4 beds 2 baths ∙ 2,205 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.74
    •  
  • 6561 Larchwood Lane Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,082 Sqft ∙ Built 1975 4 beds 2 baths ∙ 2,082 Sqft ∙ Built 1975
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.74
    •  
  • 4386 Newhaven Drive Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,016 Sqft ∙ Built 1984 4 beds 2 baths ∙ 2,016 Sqft ∙ Built 1984
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.79
    •  
  • 7089 Mountain Moss Drive Las Vegas, NV 4
    • 5 beds 2 baths ∙ 2,156 Sqft ∙ Built 1980 5 beds 2 baths ∙ 2,156 Sqft ∙ Built 1980
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.83
    •  
  • 4570 Freshwater Drive Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,161 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,161 Sqft ∙ Built 1980
    LEASED 02/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.86
    •  
PROPERTY LISTING DETAILS
Karl Workman
1.702.592.7353
Galindo Group Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2271894
Last Updated: 02/28/2021
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