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225 Redstone Street Las Vegas, NV 89145

3 Beds 2 Baths 1,680 sqft Built 1969

$300,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $178.57
  • 6 Days on Market
  • MLS # : 2269092
  • Updated Date : 02/17/2021 at 00:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,680 sqft
  • Baths : 2 full
Listing Agent

24 Hour Real Estate

Listing Agent's Description

Beautiful 1 story home!! Corner lot. 3 bedrooms and 2 full bath. Two car garage. Side entrance for RV or vehicles. No HOA Good access to freeway.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Charleston Heights

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $80k296k

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

Neighborhood: Charleston Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9641603

* 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
Helen Marie Smith Elementary School Primary Regular 487 30 7
Walter Johnson Junior High School Middle Regular 1,102 50 NA
Bonanza High School High Regular 2,003 83 3

Helen Marie Smith Elementary School

  • Education Level: Primary
  • # of students: 487
  • # of teachers: 30
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
 

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

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,042
Property Tax -$121
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
$208

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

$1,550

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.1%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

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 35% 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

9.17

YEARS SAVED

$37,945

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,617

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,345
1$1,3452$1,5503$1,5604$1,5955$1,775
$1,775
RENT COMPS ANALYSIS
  • 225 Redstone Street Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.92
    •  
  • 232 Antelope Way #0 Las Vegas, NV 1
    • 4 beds 1 baths ∙ 1,519 Sqft ∙ Built 1976 4 beds 1 baths ∙ 1,519 Sqft ∙ Built 1976
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.89
    •  
  • 101 Redstone Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 1969
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.90
    •  
  • 7608 Seagull Avenue Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1978
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.98
    •  
  • 6933 Kim Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,644 Sqft ∙ Built 1969 3 beds 3 baths ∙ 1,644 Sqft ∙ Built 1969
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.08
    •  
PROPERTY LISTING DETAILS
Antonio Melogno
1.702.460.2477
24 Hour Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2269092
Last Updated: 02/17/2021
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