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6844 Pipil Street Las Vegas, NV 89166

3 Beds 3 Baths 2,064 sqft Built 2008

INVESTimate

$320,000

List Price

$1,540

$1,386 - $1,694

Rent Est.

$345,312  ( +7.91%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2008
  • Price/Sqft : $155.04
  • 14 Days on Market
  • MLS # : 2222690
  • Updated Date : 08/24/2020 at 08:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,064 sqft
  • Baths : 2 full , 1 half
Listing Agent

Raintree Real Estate

Listing Agent's Description

Check out the fantastic views from this well-kept home in Providence! Near highway access, grocery and shopping, but views from the large balconies front AND rear show the Vegas strip and the Spring Mountain range! Great room updated with surround sound, kitchen has granite counters and a walk-in pantry! All appliances included! Work or school from home? This house has options! Formal dining room can be an office or den, and the loft could be the same! This is a great floorplan; the master is separate from the other bedrooms, and both spare bedrooms share a jack-&-jill bath. Also, the laundry room is conveniently located upstairs. The yard has a covered paverstone patio & low-maintenance desert landscaping! Front yard has a courtyard area as well. Lots of extra storage space in the oversized garage. 3D virtual tour will be available soon. Home!

SEE MORE

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: Cliffs Edge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Cliffs Edge

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
Kenneth Divich Elementary Primary Unknown NA
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Centennial High School High Regular 3,055 124 6

Kenneth Divich Elementary

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Edmundo Eddie Escobedo Sr Middle School

  • Education Level: Middle
  • # of students: 1,171
  • # of teachers: 47
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

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$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,181
Property Tax -$285
Property Insurance -$67
HOA -$11
Property Management Fees -$119
CASH FLOW
-$122

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.

$320,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.91%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$13,819

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,718

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,540
1$1,5402$1,5953$1,6004$1,6755$1,680
$1,680
RENT COMPS ANALYSIS
  • 6844 Pipil Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,064 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,064 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.75
    •  
  • 6845 Sigri Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,865 Sqft ∙ Built 2008 4 beds 3 baths ∙ 1,865 Sqft ∙ Built 2008
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.86
    •  
  • 6851 Quindio Street Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,929 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,929 Sqft ∙ Built 2008
    LEASED 11/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.83
    •  
  • 6858 Sigri Street Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,018 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,018 Sqft ∙ Built 2008
    LEASED 12/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.83
    •  
  • 10722 La Florentina Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,064 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,064 Sqft ∙ Built 2007
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.81
    •  
PROPERTY LISTING DETAILS
Robert Andy Stahl
1.717.574.2719
Raintree Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222690
Last Updated: 08/24/2020
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