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6908 White Lakes Avenue Las Vegas, NV 89130

3 Beds 3 Baths 1,822 sqft Built 1995

$319,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $175.08
  • 2 Days on Market
  • MLS # : 2244038
  • Updated Date : 11/02/2020 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,822 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

Well Maintained Home Ready for New Owners. 3 Bedroom + Den, Pool Home in a Quiet Neighborhood. Inside you will enjoy Formal Living & Dining Room, Cozy Brick Fireplace in Family Room. Eat-in Kitchen w/B-Fast Bar. Huge Master Bedroom w/Retreat area Great for Office/Den or Sitting Room. Fantastic Yard w/Grassy Area, Sparkling Waterfall Pool & Spa w/New Solar Pool Heater installed this past year. Large Covered Patio, as well as Large Uncovered Patio. Pool & Spa is gated off for Safety. Home has recently received New Air Conditioners and New Hot Water Heater this year all under Warrantee. This 2 Story home has great features for disabilities including Motorized Stairway Chair Lift, Zero Grade Entry & Walk-in Shower. Main Floor/Living Area is Carpet Free. So many wonderful qualities don't let this well priced pool home slip through your fingers Call today!!

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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: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Ernest May Elementary School Primary Regular 665 33 8
Theron L. Swainston Middle School Middle Regular 1,146 52 NA
Shadow Ridge High School High Regular 2,697 105 6

Ernest May Elementary School

  • Education Level: Primary
  • # of students: 665
  • # of teachers: 33
8
GreatSchools Rating

Theron L. Swainston Middle School

  • Education Level: Middle
  • # of students: 1,146
  • # of teachers: 52
NA
GreatSchools Rating

Shadow Ridge High School

  • Education Level: High
  • # of students: 2,697
  • # of teachers: 105
6
GreatSchools Rating
 

$287,100$350,900$319,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$1,177
Property Tax -$223
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
$8

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.

$319,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$90,285

INVESTMENT

$90,285

Down Payment
$79,750
Rehab Estimate
$5,750
Closing Costs
$4,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,177

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,750
Loan Amount $239,250
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$26,479

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,581

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4503$1,5254$1,5755$1,590
$1,590
RENT COMPS ANALYSIS
  • 6908 White Lakes Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,822 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,822 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.87
    •  
  • 6932 White Lakes Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,557 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,557 Sqft ∙ Built 1995
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.90
    •  
  • 6818 Briarwood Bend Avenue #0 Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,740 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,740 Sqft ∙ Built 2009
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.83
    •  
  • 5220 Gem Lake Court Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,792 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,792 Sqft ∙ Built 1994
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.85
    •  
  • 5619 Bishop Flowers Street Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,764 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,764 Sqft ∙ Built 2014
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.89
    •  
PROPERTY LISTING DETAILS
Paula M Burlison
1.702.326.4901
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244038
Last Updated: 11/02/2020
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