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1864 Jingle Court Las Vegas, NV 89156

3 Beds 2 Baths 1,770 sqft Built 1991

$255,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $144.07
  • 6 Days on Market
  • MLS # : 2250075
  • Updated Date : 11/24/2020 at 10:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,770 sqft
  • Baths : 2 full
Listing Agent

Rooftop Realty

Listing Agent's Description

GREAT INVESTMENT POTENTIAL - Tenant in place until 5/18/2021. 1 story property boasts 1700+ square feet, 3 BR and 2 Baths and sits on a large corner lot near Sunrise Mountain. Please follow all COVID-19 guidelines and wear a mask when viewing property.

SEE MORE

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: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9591603

* 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
Mountain View Elementary School Primary Regular 531 31 2
Dr. William H Bob Bailey Middle School Middle Regular 1,202 49 NA
Sunrise Mountain High School High Regular 2,526 113 2

Mountain View Elementary School

  • Education Level: Primary
  • # of students: 531
  • # of teachers: 31
2
GreatSchools Rating

Dr. William H Bob Bailey Middle School

  • Education Level: Middle
  • # of students: 1,202
  • # of teachers: 49
NA
GreatSchools Rating

Sunrise Mountain High School

  • Education Level: High
  • # of students: 2,526
  • # of teachers: 113
2
GreatSchools Rating
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$941
Property Tax -$160
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$149

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.

$255,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.8%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$941

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$33,282

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,447

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3503$1,4304$1,4955$1,500
$1,500
RENT COMPS ANALYSIS
  • 1864 Jingle Court Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,770 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,770 Sqft ∙ Built 1991
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.81
    •  
  • 6434 Elwood Mead Avenue #103 Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,685 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,685 Sqft ∙ Built 2007
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.77
    •  
  • 6045 Stone Hollow Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,649 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,649 Sqft ∙ Built 2001
    property image
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.82
    •  
  • 1313 Villa Park Court Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,837 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,837 Sqft ∙ Built 1999
    property image
    LEASED 01/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.81
    •  
  • 1576 Applegrove Way Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,726 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,726 Sqft ∙ Built 1999
    property image
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.87
    •  
PROPERTY LISTING DETAILS
Imelda Revuelto
1.702.970.6351
Rooftop Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2250075
Last Updated: 11/24/2020
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