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6809 Pacific Craft Lane Las Vegas, NV 89122

4 Beds 3 Baths 1,601 sqft Built 2005

$260,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $162.40
  • 11 Days on Market
  • MLS # : 2258665
  • Updated Date : 01/10/2021 at 00:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,601 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

4 Bedroom, 3 bath home at the end of the cult-de-sac with a driveway for extra parking. First floor includes a powder room, coat closet, high-end wood laminate throughout, including the stairs. Living room is wired for surround sound, 4 inch baseboards, a spacious kitchen with a walk-in pantry and wood faux window coverings. The second floor features carpet in all 4 bedrooms, 2 full baths with new tile floors, wood faux blinds through out, and a separate laundry room including washer, dryer, and shelving. Close to shopping, dinning, and freeway. Come see for yourself, you'll be glad you did.

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
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$903
Property Tax -$180
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$140

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.

$260,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.54%

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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$27,230

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,349

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3003$1,4004$1,4005$1,498
$1,498
RENT COMPS ANALYSIS
  • 6809 Pacific Craft Lane Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,601 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,601 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.87
    •  
  • 5283 Broadlake Lane Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,552 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,552 Sqft ∙ Built 2006
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.83
    •  
  • 5280 Opal Creek Way #0 Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 2006
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.84
    •  
  • 5484 Mercury Springs Drive Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,689 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,689 Sqft ∙ Built 2012
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.83
    •  
  • 5371 Scotch Cap Drive Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,722 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,722 Sqft ∙ Built 2018
    LEASED 03/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,498
    • $0.87
    •  
PROPERTY LISTING DETAILS
Gustavo J Chavez-pelayo
1.702.479.8906
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2258665
Last Updated: 01/10/2021
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