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6896 Mahogany Meadows Avenue Las Vegas, NV 89122

3 Beds 3 Baths 1,800 sqft Built 2005

$274,900

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $152.72
  • 4 Days on Market
  • MLS # : 2247779
  • Updated Date : 11/12/2020 at 16:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,800 sqft
  • Baths : 2 full , 1 half
Listing Agent

Griffin Group Realty

Listing Agent's Description

BEAUTIFUL TWO STORY HOME NEAR SAM BOYD!!! OPEN FLOORPLAN, SPACIOUS KITCHEN, SOLID SURFACE COUNTERTOPS, LOTS OF CABINET SPACE, PANTRY, DINING AREA, LARGE BEDROOMS, HUGE PRIMARY BEDROOM WITH WALK IN CLOSET, PRIMARY BATHROOM HAS DOUBLE SINKS AND A SEPARATE SHOWER, PRIVATE BACKYARD AND MUCH MORE!!! NEAR GREAT SHOPPING, THE FREEWAY AND AMAZING RESTAURANTS!!!

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

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
 

$247,410$302,390$274,900

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$1,014
Property Tax -$194
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
-$109

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.

$274,900

PROJECTED PRICE

$1,280

PROJECTED RENT

0.47%

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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,014

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$9,935

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,280

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,422

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,280
1$1,2802$1,4003$1,4954$1,5505$1,550
$1,550
RENT COMPS ANALYSIS
  • 6896 Mahogany Meadows Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $0.71
    •  
  • 5484 Mercury Springs Drive Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,689 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,689 Sqft ∙ Built 2012
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.83
    •  
  • 6751 Boom Town Drive #0 Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,979 Sqft ∙ Built 2012 4 beds 3 baths ∙ 1,979 Sqft ∙ Built 2012
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.76
    •  
  • 6749 Prairie Dusk Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,979 Sqft ∙ Built 2012 4 beds 3 baths ∙ 1,979 Sqft ∙ Built 2012
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.78
    •  
  • 6828 Majestic Palm Drive Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,955 Sqft ∙ Built 2013 4 beds 3 baths ∙ 1,955 Sqft ∙ Built 2013
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.79
    •  
PROPERTY LISTING DETAILS
Jamie A Griffin
1.702.479.0079
Griffin Group Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2247779
Last Updated: 11/12/2020
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