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6912 Megan Avenue Las Vegas, NV 89108

2 Beds 3 Baths 1,597 sqft Built 1985

$310,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $194.11
  • 3 Days on Market
  • MLS # : 2273344
  • Updated Date : 02/27/2021 at 20:39
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,597 sqft
  • Baths : 2 full , 1 half
Listing Agent

Platinum R.e. Professionals

Listing Agent's Description

Check it out a brand new listing in the desirable northwest area. Ready for you to call it home! This gorgeous 2 bed plus loft (possible 3 bed!) has several items that have been recently redone/replaced giving you a step ahead on home maintenance. Sparkling pool, pool decking & pool equipment was just recently redone. Year old roof, newer AC unit both saving you thousands in upgrades! Updated primary bath shower with incredible tile so you can enjoy your relaxing pamper time. This one has so many features on top of being in a Non HOA community what more could you ask for? Vaulted ceilings give this home a bright, airy, and open feel anywhere you go. The nice size loft overlooks the living room and is a nice touch you don't see often. This home will not last, bring your offers!

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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
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$1,077
Property Tax -$170
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$26

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.

$310,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.47%

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

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$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$22,753

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,441

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2003$1,3004$1,3505$1,450
$1,450
RENT COMPS ANALYSIS
  • 6912 Megan Avenue Las Vegas, NV 5
    • 2 beds 3 baths ∙ 1,597 Sqft ∙ Built 1985 2 beds 3 baths ∙ 1,597 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.91
    •  
  • 7224 Diamond Hope Court Las Vegas, NV 1
    • 2 beds 2 baths ∙ 1,271 Sqft ∙ Built 2004 2 beds 2 baths ∙ 1,271 Sqft ∙ Built 2004
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.94
    •  
  • 6156 Pine Villa Avenue #104 Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,369 Sqft ∙ Built 2000 2 beds 2 baths ∙ 1,369 Sqft ∙ Built 2000
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.88
    •  
  • 3825 Summer Breeze Circle Las Vegas, NV 3
    • 2 beds 3 baths ∙ 1,489 Sqft ∙ Built 1982 2 beds 3 baths ∙ 1,489 Sqft ∙ Built 1982
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.87
    •  
  • 7033 Old Village Avenue Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,474 Sqft ∙ Built 1995 2 beds 2 baths ∙ 1,474 Sqft ∙ Built 1995
    LEASED 12/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.92
    •  
PROPERTY LISTING DETAILS
Christianne A Yates
1.702.818.0747
Platinum R.e. Professionals
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2273344
Last Updated: 02/27/2021
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