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6905 Welsh Circle Las Vegas, NV 89108

4 Beds 3 Baths 2,023 sqft Built 1984

$299,900

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $148.25
  • 4 Days on Market
  • MLS # : 2273082
  • Updated Date : 02/26/2021 at 02:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,023 sqft
  • Baths : 3 full
Listing Agent

1st Priority Realty, Llc

Listing Agent's Description

ABSOLUTELY GORGEOUS! NO REPO OR SHORT SALE! BRAND NEW! ALL NEW KITCHEN WITH NEW GRANITE COUNTERS AND FULL GLASS/TILE BACKSPLASH*FULL STAINLESS STEEL APPLIANCE PKG WITH FRIG, WASHER & DRYER*PLUSH NEW CARPET AND WOOD PLANK TILE THRU-OUT*NEW TWO TONED PAINT INSIDE & OUT OVER FRESH TEXTURE*4 FULL BDRMS W/3 FULL BATHROOMS INCLUDING FULL BED/BATH DOWNSTAIRS WITH SEPARATE ENTRANCE*COULD BE APT*NEW FIXTURES, SINKS, FAUCETS, TOILETS, FANS, CLOSET DOORS WITH NEW WOOD BLINDS*PROFESSINAL LANDSCAPE FRONT & REAR*HUGE LOT WITH DOUBLE, ROLLING RV GATE WITH FRONT TO BACK RV/BOAT PARKING*COVERED PATIO, SECURITY BARS, SOLAR PANELS AND ALL WITH NO HOA OR SID!

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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

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
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,042
Property Tax -$155
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
$298

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.

$299,900

PROJECTED PRICE

$1,680

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.7%
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

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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

11.08

YEARS SAVED

$49,698

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,846

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,680
1$1,6802$1,6953$1,7004$1,7505$1,799
$1,799
RENT COMPS ANALYSIS
  • 6905 Welsh Circle Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,023 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,023 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.83
    •  
  • 7121 Deepriver Circle Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,834 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,834 Sqft ∙ Built 1988
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.92
    •  
  • 7513 Turtle Dove Court Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,889 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,889 Sqft ∙ Built 1992
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.90
    •  
  • 6609 Joe Michael Way Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,861 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,861 Sqft ∙ Built 1986
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
  • 7205 Dalegrove Drive Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,019 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,019 Sqft ∙ Built 1985
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.89
    •  
PROPERTY LISTING DETAILS
Michael R Costello
1.702.596.8032
1st Priority Realty, Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2273082
Last Updated: 02/26/2021
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