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216 Page Street Las Vegas, NV 89110

4 Beds 2 Baths 1,290 sqft Built 1978

$230,000

List Price

$1,180

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $178.29
  • 5 Days on Market
  • MLS # : 2257500
  • Updated Date : 12/23/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,290 sqft
  • Baths : 2 full
Listing Agent

Signature Real Estate Group

Listing Agent's Description

ORIGINALLY OWNED 4 BEDROOM HOME!!!! SINGLE STORY WITH OPEN KITCHEN ON A LARGE LOT.

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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: Stewart Place

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $65k296k

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

Neighborhood: Stewart Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8541603

* 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
Elbert Edwards Elementary School Primary Regular 677 34 3
Dell Robison Middle School Middle Regular 1,210 45 NA
Las Vegas High School High Regular 3,077 121 4

Elbert Edwards Elementary School

  • Education Level: Primary
  • # of students: 677
  • # of teachers: 34
3
GreatSchools Rating

Dell Robison Middle School

  • Education Level: Middle
  • # of students: 1,210
  • # of teachers: 45
NA
GreatSchools Rating

Las Vegas High School

  • Education Level: High
  • # of students: 3,077
  • # of teachers: 121
4
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,062$1,298$1,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,180
EXPENSES Loan Payment -$849
Property Tax -$113
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
$47

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.

$230,000

PROJECTED PRICE

$1,180

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 14.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$21,287

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,180

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,145

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,1803$1,2504$1,2655$1,295
$1,295
RENT COMPS ANALYSIS
  • 216 Page Street Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,290 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,290 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,180
    • $0.91
    •  
  • 1300 Arlington Street #202 Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 1998
    property image
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.90
    •  
  • 305 Tybo Circle Las Vegas, NV 3
    • 4 beds 2 baths ∙ 1,464 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,464 Sqft ∙ Built 1971
    property image
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.85
    •  
  • 112 Romero Drive Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1978
    property image
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,265
    • $0.89
    •  
  • 4204 Caliper Drive Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,423 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,423 Sqft ∙ Built 1988
    property image
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.91
    •  
PROPERTY LISTING DETAILS
Kathryn A Ramsey
1.702.278.8971
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2257500
Last Updated: 12/23/2020
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