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220 Jon Belger Las Vegas, NV 89145

2 Beds 2 Baths 1,184 sqft Built 1983

INVESTimate

$264,000

List Price

$1,400

$1,260 - $1,540

Rent Est.

$293,330  ( +11.11%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1983
  • Price/Sqft : $222.97
  • 5 Days on Market
  • MLS # : 2224138
  • Updated Date : 08/22/2020 at 11:30
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,184 sqft
  • Baths : 2 full
Listing Agent

Rx Realty

Listing Agent's Description

MUST SEE...SELLER HAS REMODELED LIKE NEW...NEW PAINT, NEW WOOD LAMINATE FLOORING, NEW CARPET, NEW QUARTZ COUNTERTOPS, NEW APPLIANCES...FEELS LIKE A BRAND NEW HOME!! 2 MASTER SUITES / 2 FULL BATHS / 2 CAR GARAGE. NEAR PARKS, SHOPPING AND FREEWAY ACCESS...DON'T MISS OUT!!

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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: Angel Park Lindell

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $91k296k

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

Neighborhood: Angel Park Lindell

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9111606

* 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
Walter Jacobson Elementary School Primary Regular 592 32 7
Walter Johnson Junior High School Middle Regular 1,102 50 NA
Bonanza High School High Regular 2,003 83 3

Walter Jacobson Elementary School

  • Education Level: Primary
  • # of students: 592
  • # of teachers: 32
7
GreatSchools Rating

Walter Johnson Junior High School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 50
NA
GreatSchools Rating

Bonanza High School

  • Education Level: High
  • # of students: 2,003
  • # of teachers: 83
3
GreatSchools Rating
 

$237,600$290,400$264,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$974
Property Tax -$133
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
$124

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$264,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.11%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,710

INVESTMENT

$75,710

Down Payment
$66,000
Rehab Estimate
$5,750
Closing Costs
$3,960

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$974

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,000
Loan Amount $198,000
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$34,893

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $1,397

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2253$1,3954$1,4005$1,500
$1,500
RENT COMPS ANALYSIS
  • 220 Jon Belger Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,184 Sqft ∙ Built 1983 2 beds 2 baths ∙ 1,184 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.18
    •  
  • 350 South Durango Drive #223 Las Vegas, NV 1
    • 2 beds 2 baths ∙ 1,016 Sqft ∙ Built 1997 2 beds 2 baths ∙ 1,016 Sqft ∙ Built 1997
    property image
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.18
    •  
  • 8450 Alta Drive #108 Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,016 Sqft ∙ Built 1995 2 beds 2 baths ∙ 1,016 Sqft ∙ Built 1995
    property image
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $1.21
    •  
  • 8207 Misty Island Circle #0 Las Vegas, NV 3
    • 2 beds 1 baths ∙ 1,322 Sqft ∙ Built 1992 2 beds 1 baths ∙ 1,322 Sqft ∙ Built 1992
    property image
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.06
    •  
  • 8420 Lomack Court Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,184 Sqft ∙ Built 1983 2 beds 2 baths ∙ 1,184 Sqft ∙ Built 1983
    property image
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.27
    •  
PROPERTY LISTING DETAILS
Harvard L Lomax
1.702.301.8148
Rx Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224138
Last Updated: 08/22/2020
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