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6905 Welsh Circle Las Vegas, NV 89108

3 Beds 3 Baths 2,023 sqft Built 1984

INVESTimate

$240,000

List Price

$1,460

$1,314 - $1,606

Rent Est.

$265,656  ( +10.69%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1984
  • Price/Sqft : $118.64
  • 3 Days on Market
  • MLS # : 2224547
  • Updated Date : 08/24/2020 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,023 sqft
  • Baths : 3 full
Listing Agent

Park Place Realty

Listing Agent's Description

This large home in NW at an incredible low price will not last. Yes, it is a fixer upper and need of some serious remodeling, but make this ugly duckling is begging to be remodeled! Price very competitive given the market conditions and priced to sell! New roof is its shiny feature with energy saving solar panels. If you have the vision this could very well be the home you are seeking!

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: North Cheyenne

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k302k

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

Neighborhood: North Cheyenne

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10011606

* 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
R.e. Tobler Elementary School Primary Regular 582 36 2
Irwin And Susan Molasky Junior High School Middle Regular 1,131 50 NA
Cheyenne High School High Regular 2,212 91 2

R.e. Tobler Elementary School

  • Education Level: Primary
  • # of students: 582
  • # of teachers: 36
2
GreatSchools Rating

Irwin And Susan Molasky Junior High School

  • Education Level: Middle
  • # of students: 1,131
  • # of teachers: 50
NA
GreatSchools Rating

Cheyenne High School

  • Education Level: High
  • # of students: 2,212
  • # of teachers: 91
2
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,314$1,606$1,460

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$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$886
Property Tax -$155
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
$235

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.

$240,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.69%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

10.75

YEARS SAVED

$44,971

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,492

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,385
1$1,3852$1,3993$1,4604$1,4955$1,500
$1,500
RENT COMPS ANALYSIS
  • 6905 Welsh Circle Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,023 Sqft ∙ Built 1984 3 beds 3 baths ∙ 2,023 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.72
    •  
  • 6916 Tulsa Circle Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,884 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,884 Sqft ∙ Built 1986
    property image
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,385
    • $0.74
    •  
  • 7324 Atwood Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,960 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,960 Sqft ∙ Built 1988
    property image
    LEASED 11/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.71
    •  
  • 3812 Cliff Harbor Drive Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,878 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,878 Sqft ∙ Built 1992
    property image
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.80
    •  
  • 7109 Flowerridge Lane Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 1989
    property image
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.70
    •  
PROPERTY LISTING DETAILS
Jose I Matta Zamora
1.702.980.7043
Park Place Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224547
Last Updated: 08/24/2020
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