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6912 Grand Junction Avenue Las Vegas, NV 89179

3 Beds 3 Baths 2,255 sqft Built 2006

$380,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $168.51
  • 3 Days on Market
  • MLS # : 2265447
  • Updated Date : 01/31/2021 at 05:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,255 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bottega Real Estate

Listing Agent's Description

This Mountains Edge beauty is not to be missed! Featuring 3 bedrooms, 2 1/2 bathrooms with a bonus room and loft. Large kitchen with upgrades overlooking a beautiful yard. Ready for new owners and can close quick!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Mountain Edge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Mountain Edge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10391875

* 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
Carolyn Reedom Elementary School Primary Regular 1,097 58 6
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Carolyn Reedom Elementary School

  • Education Level: Primary
  • # of students: 1,097
  • # of teachers: 58
6
GreatSchools Rating

Lois And Jerry Tarkanian Middle School

  • Education Level: Middle
  • # of students: 1,739
  • # of teachers: 71
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$342,000$418,000$380,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,320
Property Tax -$259
Property Insurance -$71
Property Management Fees -$119
CASH FLOW
$41

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.

$380,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.4%
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$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$28,643

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,877

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,8104$1,9005$2,200
$2,200
RENT COMPS ANALYSIS
  • 6912 Grand Junction Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,255 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,255 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.80
    •  
  • 6983 Bering Strait Avenue Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,282 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,282 Sqft ∙ Built 2014
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.77
    •  
  • 11173 Hickory Glen Street Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,255 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,255 Sqft ∙ Built 2006
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.80
    •  
  • 10880 Woods Hole Bay Street Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,220 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,220 Sqft ∙ Built 2018
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.86
    •  
  • 11047 Jordyn Hill Street Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,451 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,451 Sqft ∙ Built 2018
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.90
    •  
PROPERTY LISTING DETAILS
Chris W Fikkert
1.702.743.8886
Bottega Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2265447
Last Updated: 01/31/2021
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