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6883 Gold Nugget Drive Las Vegas, NV 89122

4 Beds 2 Baths 1,800 sqft Built 2005

$259,500

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $144.17
  • 3 Days on Market
  • MLS # : 2243899
  • Updated Date : 11/02/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,800 sqft
  • Baths : 1 full , 1 half
Listing Agent

Robinson Realty & Management

Listing Agent's Description

Home Sweet Home!! Beautiful and move in ready! Superb gated neighborhood with community walking path, parks and pool! The spacious layout of this home allows for plenty of intimate nights or gatherings of your closest friends and family! The kitchen is built for a chef with stainless steel appliances and granite counter tops! Warm up the home and get cozy in front of the gas fireplace in the living room! Three bedrooms and a study area located upstairs and primary bedroom located downstairs. The backyard is ready for year round hang outs on any desert day or night!

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

Zip Code: 89122

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Zip Code: 89122

ZipNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
Josh Stevens Elementary School Primary Unknown NA
Francis Cortney Middle School Middle Regular 1,235 52 NA
Basic High School High Regular 2,367 100 3

Josh Stevens Elementary School

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

Francis Cortney Middle School

  • Education Level: Middle
  • # of students: 1,235
  • # of teachers: 52
NA
GreatSchools Rating

Basic High School

  • Education Level: High
  • # of students: 2,367
  • # of teachers: 100
3
GreatSchools Rating
 

$233,550$285,450$259,500

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$957
Property Tax -$194
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
$28

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$259,500

PROJECTED PRICE

$1,360

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.1%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,518

INVESTMENT

$74,518

Down Payment
$64,875
Rehab Estimate
$5,750
Closing Costs
$3,893

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$957

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,875
Loan Amount $194,625
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$20,383

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,440

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3003$1,3604$1,395
$1,395
RENT COMPS ANALYSIS
  • 6883 Gold Nugget Drive Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,800 Sqft ∙ Built 2005 2 beds 2 baths ∙ 1,800 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.76
    •  
  • 1445 Hawkwood Road #0 Henderson, NV 1
    • 2 beds 2 baths ∙ 1,774 Sqft ∙ Built 1990 2 beds 2 baths ∙ 1,774 Sqft ∙ Built 1990
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.73
    •  
  • 6973 Graceful Cloud Avenue Henderson, NV 2
    • 2 beds 3 baths ∙ 1,452 Sqft ∙ Built 2006 2 beds 3 baths ∙ 1,452 Sqft ∙ Built 2006
    LEASED 09/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.90
    •  
  • 6326 Lorne Green Avenue #102 Henderson, NV 4
    • 2 beds 3 baths ∙ 1,805 Sqft ∙ Built 2001 2 beds 3 baths ∙ 1,805 Sqft ∙ Built 2001
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.77
    •  
PROPERTY LISTING DETAILS
Erica Jade
1.702.208.5118
Robinson Realty & Management
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243899
Last Updated: 11/02/2020
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