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200 Ramsey Street Las Vegas, NV 89107

3 Beds 1 Baths 1,212 sqft Built 1960

$179,000

List Price

$1,120

$1K - $1.2K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $147.69
  • 5 Days on Market
  • MLS # : 2252156
  • Updated Date : 12/03/2020 at 15:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,212 sqft
  • Baths : 1 full
Listing Agent

Innovative Real Estate Strateg

Listing Agent's Description

SINGLE STORY HOME IN THE NORTHWEST! HOME FEATURES 3 BEDROOMS AND 2 BATHROOMS; FORMAL LIVING ROOM AND SEPARATE FAMILY ROOM WITH CEILING FANS! LARGE FRONT YARD WITH TREES AND A COVERED PATIO IN THE BACKYARD, PERFECT FOR ENTERTAINING! NO NEIGHBORS TO THE LEFT OR BEHIND! HOME IS LOCATED NEAR SHOPPING CENTERS, FREEWAY ACCESS, AND RESTAURANTS.

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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: Twin Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $80k296k

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

Neighborhood: Twin Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29009501000105011001150120012501300135014001450150015501600Rent in $8871603

* 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
Howard Wasden Elementary School Primary Regular 632 36 3
Robert O. Gibson Middle School Middle Magnet 1,293 57 NA
Western High School High Regular 2,534 112 2

Howard Wasden Elementary School

  • Education Level: Primary
  • # of students: 632
  • # of teachers: 36
3
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
 

$161,100$196,900$179,000

PURCHASE PRICE

$1,008$1,232$1,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,120
EXPENSES Loan Payment -$660
Property Tax -$95
Property Insurance -$51
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.

$179,000

PROJECTED PRICE

$1,120

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.5%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,185

INVESTMENT

$53,185

Down Payment
$44,750
Rehab Estimate
$5,750
Closing Costs
$2,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $44,750
Loan Amount $134,250
See What Happens When You Reinvest Cash Flow

10.92

YEARS SAVED

$33,870

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,120

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,203

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,120
1$1,1202$1,1953$1,2504$1,2955$1,300
$1,300
RENT COMPS ANALYSIS
  • 200 Ramsey Street Las Vegas, NV 1
    • 3 beds 1 baths ∙ 1,212 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,212 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $1,120
    • $0.92
    •  
  • 1904 West Mesquite Avenue #n/a Las Vegas, NV 2
    • 3 beds 1 baths ∙ 1,270 Sqft ∙ Built 1965 3 beds 1 baths ∙ 1,270 Sqft ∙ Built 1965
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.94
    •  
  • 3412 Avalon Avenue Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1962
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.99
    •  
  • 308 Hibiscus Drive Las Vegas, NV 4
    • 3 beds 1 baths ∙ 1,276 Sqft ∙ Built 1963 3 beds 1 baths ∙ 1,276 Sqft ∙ Built 1963
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.01
    •  
  • 200 Norlen Street Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1961
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.03
    •  
PROPERTY LISTING DETAILS
Brandy J White Elk
1.702.478.2242
Innovative Real Estate Strateg
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2252156
Last Updated: 12/03/2020
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