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6817 Tartarus Street Las Vegas, NV 89131

3 Beds 2 Baths 1,588 sqft Built 1999

$332,500

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $209.38
  • 12 Days on Market
  • MLS # : 2269360
  • Updated Date : 02/20/2021 at 00:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,588 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Market Place

Listing Agent's Description

*TOTAL PRIDE OF OWNERSHIP* OVERSIZED CORNER LOT* GREAT CURB APPEAL*STUCCO COVERED PATIO IN THE BACK YARD WITH PAVERS AND BRICK PLANTERS*ROCK FRONT AND BACK FOR LOW MAINTENANCE* GRANITE COUNTER TOP, AND ISLAND KITCHEN*SEPARATE LAUNDRY ROOM*2CAR GARAGE WITH EPOXY PAINTED FLOOR*FIREPLACE IN LIVING ROOM AND A FAN*LARGE MASTER BEDROOM WITH A HUGE WALK IN CLOSET AND FULL BATH WITH 2 SINKS AND GARDEN TUB*SLIDING GLASS DOORS TO BACKYARD*

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

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
 

$299,250$365,750$332,500

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$1,155
Property Tax -$215
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
-$77

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.

$332,500

PROJECTED PRICE

$1,470

PROJECTED RENT

0.44%

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

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$93,863

INVESTMENT

$93,863

Down Payment
$83,125
Rehab Estimate
$5,750
Closing Costs
$4,988

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,155

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,125
Loan Amount $249,375
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$15,156

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,548

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,470
1$1,4702$1,5003$1,5504$1,5755$1,595
$1,595
RENT COMPS ANALYSIS
  • 6817 Tartarus Street Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.93
    •  
  • 8121 Boxberry Avenue Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 2000
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.94
    •  
  • 7825 Evident Court Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,583 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,583 Sqft ∙ Built 1998
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.98
    •  
  • 7921 Sierra Rim Drive Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,583 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,583 Sqft ∙ Built 1998
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.99
    •  
  • 7908 Olympus Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1999
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.99
    •  
PROPERTY LISTING DETAILS
Richard J Brenkus
1.702.456.5959
Keller Williams Market Place
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2269360
Last Updated: 02/20/2021
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