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6929 Cortez Court Las Vegas, NV 89145

4 Beds 2 Baths 1,519 sqft Built 1972

$299,900

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1972
  • Price/Sqft : $197.43
  • 3 Days on Market
  • MLS # : 2246412
  • Updated Date : 11/06/2020 at 15:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,519 sqft
  • Baths : 2 full
Listing Agent

Century 21 Americana

Listing Agent's Description

MOVE-IN READY!! 1Story, 4 bedrooms, 2 Baths, New Flooring throughout, New Carpet in all bedrooms, Ceiling fans in all bedrooms, Backyard beautifully landscaped with Citrus trees. NO HOA...Nearby shopping and easy freeway access. Located in Cul-de-sac.

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: Charleston Heights

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $80k296k

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

Neighborhood: Charleston Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9641603

* 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
Helen Marie Smith Elementary School Primary Regular 487 30 7
Walter Johnson Junior High School Middle Regular 1,102 50 NA
Bonanza High School High Regular 2,003 83 3

Helen Marie Smith Elementary School

  • Education Level: Primary
  • # of students: 487
  • # of teachers: 30
7
GreatSchools Rating

Walter Johnson Junior High School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 50
NA
GreatSchools Rating

Bonanza High School

  • Education Level: High
  • # of students: 2,003
  • # of teachers: 83
3
GreatSchools Rating
 

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

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$1,107
Property Tax -$122
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
-$84

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$299,900

PROJECTED PRICE

$1,320

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.1%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$14,815

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,420

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,320
1$1,3202$1,3453$1,4504$1,5505$1,625
$1,625
RENT COMPS ANALYSIS
  • 6929 Cortez Court Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,519 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,519 Sqft ∙ Built 1972
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $0.87
    •  
  • 232 Antelope Way #0 Las Vegas, NV 2
    • 4 beds 1 baths ∙ 1,519 Sqft ∙ Built 1976 4 beds 1 baths ∙ 1,519 Sqft ∙ Built 1976
    property image
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.89
    •  
  • 300 Pinecliff Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,617 Sqft ∙ Built 1971 3 beds 1 baths ∙ 1,617 Sqft ∙ Built 1971
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.90
    •  
  • 200 Fig Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,692 Sqft ∙ Built 1987 4 beds 2 baths ∙ 1,692 Sqft ∙ Built 1987
    property image
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.92
    •  
  • 105 Fig Court Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,583 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,583 Sqft ∙ Built 1986
    property image
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.03
    •  
PROPERTY LISTING DETAILS
Liz Palombo
1.702.469.3633
Century 21 Americana
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2246412
Last Updated: 11/06/2020
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