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6817 Tarpon Springs Court Las Vegas, NV 89131

3 Beds 3 Baths 2,343 sqft Built 2005

$329,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $140.42
  • 4 Days on Market
  • MLS # : 2243860
  • Updated Date : 11/01/2020 at 12:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,343 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

ADORABLE HOME IN SILVERSTONE RANCH LOCATED IN A CUL-DE-SAC!! LONG DRIVE-WAY LEADS TO A DETACHED 2-CAR GARAGE & BACKYARD. ELEGANT LIVING ROOM WITH VAULTED CEILING & WINDOW SHUTTERS. FORMAL DINING ROOM OPENS TO THE LIVING ROOM. FAMILY ROOM WITH FIREPLACE, NEW LAMINATE WOOD FLOORS & ACCESS TO THE BACKYARD. LARGE KITCHEN WITH BREAKFAST NOOK, ISLAND, GRANITE COUNTER TOPS, STAINLESS STEEL APPLIANCES & PANTRY. SPACIOUS MASTER BEDROOM WITH WALK-IN CLOSET. DELUXE MASTER BATH WITH HIS & HER SINK VANITY, SOAKER TUB & SEPARATE SHOWER. GOOD SIZED GUEST BEDROOMS & FULL BATH. BACKYARD WITH COVERED PATIO, SYNTHETIC GRASS & A MINI PUTTING GREEN. THIS IS A MUST SEE!!

SEE MORE

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: Silverstone Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k387k

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

Neighborhood: Silverstone Ranch

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
Thomas O'roarke Elementary School Primary Regular 817 42 9
Ralph Cadwallader Middle School Middle Regular 1,480 63 NA
Arbor View High School High Regular 2,878 116 9

Thomas O'roarke Elementary School

  • Education Level: Primary
  • # of students: 817
  • # of teachers: 42
9
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
 

$296,100$361,900$329,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,214
Property Tax -$297
Property Insurance -$73
Property Management Fees -$119
CASH FLOW
$8

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.

$329,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.2%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$92,935

INVESTMENT

$92,935

Down Payment
$82,250
Rehab Estimate
$5,750
Closing Costs
$4,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,214

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,250
Loan Amount $246,750
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$26,168

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,892

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7103$1,7254$1,9005$1,950
$1,950
RENT COMPS ANALYSIS
  • 6817 Tarpon Springs Court Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,343 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,343 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.73
    •  
  • 8245 Celina Hills Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,066 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,066 Sqft ∙ Built 2005
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.80
    •  
  • 8116 Celina Hills Street Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,066 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,066 Sqft ∙ Built 2005
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.83
    •  
  • 8412 River Ridge Drive Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,401 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,401 Sqft ∙ Built 2004
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.79
    •  
  • 8622 Hill Alto Court Las Vegas, NV 5
    • 3 beds 2 baths ∙ 2,401 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,401 Sqft ∙ Built 2006
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.81
    •  
PROPERTY LISTING DETAILS
Kaori S Guerra
1.702.496.7372
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243860
Last Updated: 11/01/2020
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