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6885 Black Ash Street Las Vegas, NV 89148

3 Beds 3 Baths 2,296 sqft Built 2019

$510,000

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $222.13
  • 1 Days on Market
  • MLS # : 2314118
  • Updated Date : 07/13/2021 at 18:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,296 sqft
  • Baths : 2 full , 1 half
Listing Agent

Simply Vegas

Listing Agent's Description

Like new home in Southwest Las Vegas. Minutes from 215 and IKEA. Happy to offer another Parkview Community home. This 3 bedroom, 3 bath home sits on an oversized lot at the end of a cul-da-sac. Open concept kitchen, dining and living room with large slider doors to the backyard. Den/office on first floor and half bath. Upstairs to a large loft and separate primary bedroom area with unobstructed mountain and park views. All rooms include walk in closets and more. Built in 2019, do not miss out!

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: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k339k

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

Neighborhood: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10551829

* 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
Wayne N. Tanaka Elementary School Primary Regular 1,029 52 5
Wilbur And Theresa Faiss Middle School Middle Regular 1,409 61 NA
Sierra Vista High School High Regular 2,396 88 4

Wayne N. Tanaka Elementary School

  • Education Level: Primary
  • # of students: 1,029
  • # of teachers: 52
5
GreatSchools Rating

Wilbur And Theresa Faiss Middle School

  • Education Level: Middle
  • # of students: 1,409
  • # of teachers: 61
NA
GreatSchools Rating

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

$459,000$561,000$510,000

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,771
Property Tax -$324
Property Insurance -$72
HOA -$69
Property Management Fees -$119
CASH FLOW
-$205

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.

$510,000

PROJECTED PRICE

$2,150

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.8%
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$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$140,900

INVESTMENT

$140,900

Down Payment
$127,500
Rehab Estimate
$5,750
Closing Costs
$7,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $127,500
Loan Amount $382,500
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$16,128

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,164

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,0003$2,0954$2,1505$2,200
$2,200
RENT COMPS ANALYSIS
  • 6885 Black Ash Street Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,296 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,296 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.94
    •  
  • 107 Stockton Kings Court Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,126 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,126 Sqft ∙ Built 2017
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.87
    •  
  • 6812 Stonetrace Street Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,146 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,146 Sqft ∙ Built 2016
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.93
    •  
  • 6864 Black Ash Street Las Vegas, NV 3
    • 3 beds 2 baths ∙ 2,146 Sqft ∙ Built 2019 3 beds 2 baths ∙ 2,146 Sqft ∙ Built 2019
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.98
    •  
  • 8966 Dovehill Road Las Vegas, NV 5
    • 4 beds 4 baths ∙ 2,231 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,231 Sqft ∙ Built 2014
    LEASED 06/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.99
    •  
PROPERTY LISTING DETAILS
Christopher Johnson
1.702.818.0362
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2314118
Last Updated: 07/13/2021
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