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1701 Jernae Court Las Vegas, NV 89108

4 Beds 3 Baths 1,739 sqft Built 2000

$300,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $172.51
  • 3 Days on Market
  • MLS # : 2272602
  • Updated Date : 02/27/2021 at 22:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,739 sqft
  • Baths : 3 full
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Great opportunity. 1739 sqft, open floor plan with tile flooring thru out; 4 bedrooms & 3 full baths; 2nd bedroom is an attached suite with kitchenette and own A/C unit. 2 of the bedrooms have exterior doors. Kitchen has granite counters. Covered patio. All appliances included. No HOA. Perfect for multigenerational family.

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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

Zip Code: 89108

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Zip Code: 89108

ZipNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9121603

* 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
J.t. Mcwilliams Elementary School Primary Regular 730 40 4
Robert O. Gibson Middle School Middle Magnet 1,293 57 NA
Western High School High Regular 2,534 112 2

J.t. Mcwilliams Elementary School

  • Education Level: Primary
  • # of students: 730
  • # of teachers: 40
4
GreatSchools Rating

Robert O. Gibson Middle School

  • Education Level: Middle
  • # of students: 1,293
  • # of teachers: 57
NA
GreatSchools Rating

Western High School

  • Education Level: High
  • # of students: 2,534
  • # of teachers: 112
2
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,042
Property Tax -$212
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$66

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.

$300,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.7%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$22,484

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,456

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,265
1$1,2652$1,4003$1,4754$1,5005$1,525
$1,525
RENT COMPS ANALYSIS
  • 1701 Jernae Court Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,739 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,739 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.86
    •  
  • 1925 Ann Greta Drive #- Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,579 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,579 Sqft ∙ Built 1985
    property image
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,265
    • $0.80
    •  
  • 5116 Arbor Way Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,772 Sqft ∙ Built 1980 4 beds 3 baths ∙ 1,772 Sqft ∙ Built 1980
    property image
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.79
    •  
  • 6216 Saginaw Drive Las Vegas, NV 3
    • 4 beds 2 baths ∙ 1,746 Sqft ∙ Built 1984 4 beds 2 baths ∙ 1,746 Sqft ∙ Built 1984
    property image
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.84
    •  
  • 1801 Palo Alto Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,652 Sqft ∙ Built 1984 4 beds 2 baths ∙ 1,652 Sqft ∙ Built 1984
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.92
    •  
PROPERTY LISTING DETAILS
Delinda Crampton
1.702.219.3144
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2272602
Last Updated: 02/27/2021
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