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6811 Oakey Boulevard Las Vegas, NV 89146

3 Beds 2 Baths 1,978 sqft Built 1977

$349,900

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

February 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $176.90
  • 6 Days on Market
  • MLS # : 2268811
  • Updated Date : 02/09/2021 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,978 sqft
  • Baths : 1 full , 1 half
Listing Agent

Whn Realty

Listing Agent's Description

THIS IS A VINTAGE VEGAS CENTRALLY LOCATED RANCH STYLE HOME ON A .47 ACRE LOT. THE HOME BOASTS AN OPEN AND ENTERTAINING FLOOR PLAN, 3 BEDROOMS, 2.5 BATHROOMS AND A 2 CAR GARAGE, CARPET AND TILE FLOORING, LIVING AND FAMILY ROOM, AND AN OVERSIZED MASTER BEDROOM WITH DOUBLE CLOSETS AND SEPARATE BATHROOM. THE BACKYARD IS AN ENTERTAINERS OASIS WITH IG-POOL AND A PLETHORA OF SPACE FOR THE CREATIVE HOMEOWNER. THIS IS A GREAT PLACE TO CALL HOME!!! THIS HOME WILL NOT QUALIFY FOR FINANCING!!!

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MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Canyon Gate

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k384k

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

Neighborhood: Canyon Gate

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10762045

* 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
Doris Hancock Elementary School Primary Regular 552 29 2
Frank F. Garside Junior High School Middle Regular 1,209 52 NA
Bonanza High School High Regular 2,003 83 3

Doris Hancock Elementary School

  • Education Level: Primary
  • # of students: 552
  • # of teachers: 29
2
GreatSchools Rating

Frank F. Garside Junior High School

  • Education Level: Middle
  • # of students: 1,209
  • # of teachers: 52
NA
GreatSchools Rating

Bonanza High School

  • Education Level: High
  • # of students: 2,003
  • # of teachers: 83
3
GreatSchools Rating
 

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

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,215
Property Tax -$219
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
$221

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

$1,840

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 7.4%
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

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

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 35% 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

9.25

YEARS SAVED

$44,114

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,647

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5503$1,6504$1,7005$1,840
$1,840
RENT COMPS ANALYSIS
  • 6811 Oakey Boulevard Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,978 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,978 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.93
    •  
  • 808 Antigua Street Las Vegas, NV 1
    • 3 beds 1 baths ∙ 1,877 Sqft ∙ Built 1970 3 beds 1 baths ∙ 1,877 Sqft ∙ Built 1970
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.75
    •  
  • 6949 Marseilles Circle Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 1970
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.87
    •  
  • 6605 Vicuna Drive Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,026 Sqft ∙ Built 1985 4 beds 2 baths ∙ 2,026 Sqft ∙ Built 1985
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.81
    •  
  • 804 Vincent Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,898 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,898 Sqft ∙ Built 1970
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.90
    •  
PROPERTY LISTING DETAILS
Mark Hostetler
1.702.914.0925
Whn Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2268811
Last Updated: 02/09/2021
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