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6805 Urania Court Las Vegas, NV 89131

4 Beds 3 Baths 2,203 sqft Built 1998

$349,900

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $158.83
  • 3 Days on Market
  • MLS # : 2265448
  • Updated Date : 01/30/2021 at 07:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,203 sqft
  • Baths : 3 full
Listing Agent

Platinum R.e. Professionals

Listing Agent's Description

Next to 0 inventory currently in this Gem of a neighborhood & possibly the Nicest House situated on a larger than 90% of other community lots. Recently upgraded four bedroom plus a den that could be converted to another bedroom or continue to have the open entry Den/office area. Custom built-in lighting flush with the ceiling, custom backsplash and upgraded kitchen including all newer appliances. Gorgeous fireplace and dining room living room area with custom tile surrounding it. Quiet cul-de-sac location with almost 6000 square-foot private lot, Brand new desert landscaping, beautiful grass Front Lawn w mature tree. Upgraded custom flooring, master bath completely redone along with the other bathrooms, plenty of natural light & open floor plan downstairs including FB downstairs. Park is a block away and school is literally right across the street. Extremely convenient location that takes a minute to get to your driveway from the freeway. Won’t last long, PRICED TO SELL FAST!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Elkhorn Cimarron Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k300k

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

Neighborhood: Elkhorn Cimarron Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9921606

* 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
Betsey Rhodes Elementary School Primary Regular 664 36 8
Ralph Cadwallader Middle School Middle Regular 1,480 63 NA
Arbor View High School High Regular 2,878 116 9

Betsey Rhodes Elementary School

  • Education Level: Primary
  • # of students: 664
  • # of teachers: 36
8
GreatSchools Rating

Ralph Cadwallader Middle School

  • Education Level: Middle
  • # of students: 1,480
  • # of teachers: 63
NA
GreatSchools Rating

Arbor View High School

  • Education Level: High
  • # of students: 2,878
  • # of teachers: 116
9
GreatSchools Rating
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,215
Property Tax -$238
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
$47

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.

$349,900

PROJECTED PRICE

$1,690

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.5%
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$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$26,570

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,718

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6903$1,7004$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 6805 Urania Court Las Vegas, NV 2
    • 4 beds 4 baths ∙ 2,203 Sqft ∙ Built 1998 4 beds 4 baths ∙ 2,203 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.77
    •  
  • 8024 Anasazi Ranch Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,083 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,083 Sqft ∙ Built 2008
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.77
    •  
  • 7729 Falconwing Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,284 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,284 Sqft ∙ Built 1999
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.74
    •  
  • 7204 Buglehorn Las Vegas, NV 4
    • 3 beds 4 baths ∙ 2,348 Sqft ∙ Built 1999 3 beds 4 baths ∙ 2,348 Sqft ∙ Built 1999
    LEASED 06/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.77
    •  
  • 6820 Rosinwood Street Las Vegas, NV 5
    • 5 beds 3 baths ∙ 2,203 Sqft ∙ Built 2000 5 beds 3 baths ∙ 2,203 Sqft ∙ Built 2000
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.84
    •  
PROPERTY LISTING DETAILS
Patrick Savarin
1.702.285.4216
Platinum R.e. Professionals
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2265448
Last Updated: 01/30/2021
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