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109 Chino Avenue North Las Vegas, NV 89031

4 Beds 2 Baths 1,917 sqft Built 2015

$340,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $177.36
  • 2 Days on Market
  • MLS # : 2261563
  • Updated Date : 01/16/2021 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,917 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Las Vegas

Listing Agent's Description

A must see SINGLE STORY HOME! Amazing oversized and private backyard. Home features 4 bedrooms, 2baths, 2 car garage and upgrades throughout the property. Granite counter tops in kitchen, tile flooring throughout and carpet in rooms. Spacious master bedroom sits away from the other rooms. This property lot size is over 6,000sqft and it features a covered patio and privacy. You must take a look at this property in person. Property located near places of entertainment, parks, shopping, schools and all appliances are included. Freshly interior painted and professionally cleaned.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
Raul Elizondo Elementary School Primary Regular 774 42 5
Clifford O. Findlay Middle School Middle Regular 1,372 59 NA
Mojave High School High Regular 2,311 103 2

Raul Elizondo Elementary School

  • Education Level: Primary
  • # of students: 774
  • # of teachers: 42
5
GreatSchools Rating

Clifford O. Findlay Middle School

  • Education Level: Middle
  • # of students: 1,372
  • # of teachers: 59
NA
GreatSchools Rating

Mojave High School

  • Education Level: High
  • # of students: 2,311
  • # of teachers: 103
2
GreatSchools Rating
 

$306,000$374,000$340,000

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 -$1,181
Property Tax -$281
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
-$195

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.

$340,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.1%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$5,882

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
  • $0.76

    LIST RENT PER SQFT
  • $1,586

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4753$1,5504$1,5505$1,695
$1,695
RENT COMPS ANALYSIS
  • 109 Chino Avenue North Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,917 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,917 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.76
    •  
  • 5120 Conway Street #0 North Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,759 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,759 Sqft ∙ Built 2007
    property image
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.84
    •  
  • 717 Fort Mandan Court #n/a North Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,869 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,869 Sqft ∙ Built 2005
    property image
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.83
    •  
  • 132 West La Madre Way North Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,975 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,975 Sqft ∙ Built 2005
    property image
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.78
    •  
  • 5020 Crying Heart Street North Las Vegas, NV 5
    • 5 beds 2 baths ∙ 1,975 Sqft ∙ Built 2005 5 beds 2 baths ∙ 1,975 Sqft ∙ Built 2005
    property image
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.86
    •  
PROPERTY LISTING DETAILS
Alex Mejia
1.702.335.2196
Keller Williams Realty Las Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261563
Last Updated: 01/16/2021
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