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6817 Snake River Avenue Las Vegas, NV 89130

3 Beds 2 Baths 1,272 sqft Built 1996

$299,900

List Price

$1,190

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

November 08, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $235.77
  • 2 Days on Market
  • MLS # : 2246708
  • Updated Date : 11/07/2020 at 18:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,272 sqft
  • Baths : 2 full
Listing Agent

Elite Realty

Listing Agent's Description

YOU WON'T BELIEVE HOW BEAUTIFUL THIS HOME IS UNTIL YOU SEE IT FOR YOURSELF!*MODERN WOOD LOOK TILE FLOORS*CUSTOM TWO TONE PAINT*GRANITE IN KITCHEN WITH BREAKFAST BAR & BUILTIN MICRO*SPACIOUS LIVINGRM & DINING AREA W/DOORS TO GORGEOUS BACKYARD GATED PATIO BEAUTIFUL PAVER PATIO & GAZEBO*EASY TO MAINTAIN YARD*GOOD SIZED SECONDARY BEDRMS & LOVELY MSTR W/PATIO DOOR*SITUATED ON A LARGE LOT*

SEE MORE

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: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Ernest May Elementary School Primary Regular 665 33 8
Theron L. Swainston Middle School Middle Regular 1,146 52 NA
Shadow Ridge High School High Regular 2,697 105 6

Ernest May Elementary School

  • Education Level: Primary
  • # of students: 665
  • # of teachers: 33
8
GreatSchools Rating

Theron L. Swainston Middle School

  • Education Level: Middle
  • # of students: 1,146
  • # of teachers: 52
NA
GreatSchools Rating

Shadow Ridge High School

  • Education Level: High
  • # of students: 2,697
  • # of teachers: 105
6
GreatSchools Rating
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,071$1,309$1,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,190
EXPENSES Loan Payment -$1,107
Property Tax -$182
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
-$270

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.

$299,900

PROJECTED PRICE

$1,190

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$4,198

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,190

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,202

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,190
1$1,1902$1,3503$1,4004$1,4955$1,500
$1,500
RENT COMPS ANALYSIS
  • 6817 Snake River Avenue Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,272 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,272 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,190
    • $0.94
    •  
  • 6484 Arrow Cottage Court #na Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,404 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,404 Sqft ∙ Built 2007
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.96
    •  
  • 6932 White Lakes Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,557 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,557 Sqft ∙ Built 1995
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.90
    •  
  • 6794 Briarwood Bend Avenue #0 Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,550 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,550 Sqft ∙ Built 2008
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.96
    •  
  • 5337 Standing Rock Place Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,557 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,557 Sqft ∙ Built 1995
    LEASED 06/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.96
    •  
PROPERTY LISTING DETAILS
Toni K Smith
1.702.335.0807
Elite Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2246708
Last Updated: 11/07/2020
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