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6936 Homing Pigeon Place North Las Vegas, NV 89084

4 Beds 2 Baths 2,383 sqft Built 2005

$399,500

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $167.65
  • 6 Days on Market
  • MLS # : 2248346
  • Updated Date : 11/18/2020 at 08:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,383 sqft
  • Baths : 2 full
Listing Agent

Windermere Prestige Properties

Listing Agent's Description

WOW....SINGLE STORY W/CASITA IN A GATED COMMUNITY! This house has all the boxes checked. MOVE-IN READY! Oversized Gated Courtyard entrance to HOME! NEW interior paint, carpet, microwave, dishwasher, faucets and toilets. Entertainer's Delight...Great Room w/Gas Fireplace and Pre-Wired for Surround Sound open to Covered Rear Patio with Green Turf Yard backing up to Greenbelt/Walking Path. Kitchen has Granite Island/Countertops, SS Appliances, Double Oven and Cabinet Pull Outs. Attached Casita with Private Entrance, New Flooring, Banded Blinds, 3/4 bath, Closet!

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: Aliante

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $110k362k

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

Neighborhood: Aliante

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9671963

* 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
Vincent L. Triggs Elementary School Primary Regular 761 40 7
Anthony Saville Middle School Middle Regular 1,494 58 NA
Shadow Ridge High School High Regular 2,697 105 6

Vincent L. Triggs Elementary School

  • Education Level: Primary
  • # of students: 761
  • # of teachers: 40
7
GreatSchools Rating

Anthony Saville Middle School

  • Education Level: Middle
  • # of students: 1,494
  • # of teachers: 58
NA
GreatSchools Rating

Shadow Ridge High School

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

$359,550$439,450$399,500

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,474
Property Tax -$334
Property Insurance -$73
Property Management Fees -$119
CASH FLOW
-$241

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.

$399,500

PROJECTED PRICE

$1,760

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.2%
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-$5.0k$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$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,618

INVESTMENT

$111,618

Down Payment
$99,875
Rehab Estimate
$5,750
Closing Costs
$5,993

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,474

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,875
Loan Amount $299,625
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$10,844

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,859

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7503$1,7604$1,8005$1,900
$1,900
RENT COMPS ANALYSIS
  • 6936 Homing Pigeon Place North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,383 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,383 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.74
    •  
  • 7125 Weavers Place Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,239 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,239 Sqft ∙ Built 2012
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.74
    •  
  • 6699 Wood Thrush North Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,311 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,311 Sqft ∙ Built 2006
    property image
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.76
    •  
  • 3628 Pelican Brief Lane #0 North Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 2008
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.75
    •  
  • 7263 Bugler Swan North Las Vegas, NV 5
    • 3 beds 2 baths ∙ 2,196 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,196 Sqft ∙ Built 2005
    property image
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.87
    •  
PROPERTY LISTING DETAILS
Teresa Stanbrough
1.702.860.6419
Windermere Prestige Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2248346
Last Updated: 11/18/2020
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