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260 Ben Johnson Court Las Vegas, NV 89183

4 Beds 2 Baths 1,947 sqft Built 1999

$565,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $290.19
  • 7 Days on Market
  • MLS # : 2265587
  • Updated Date : 02/07/2021 at 02:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,947 sqft
  • Baths : 2 full
Listing Agent

Knapp Realty

Listing Agent's Description

Spectacular former Model, you won’t want to miss this one! Spacious open floor plan with many upgrades and extras! Huge backyard and side yard area features putting green, covered patio with custom stamped concrete and ceiling fans. Small cul-de-sac street! Close access to shopping, park and a few miles from South Strip* RV Parking and Insulated door*3 Car Garage, Single Story with Huge Lot over .29 Acre. Surrounding mountain views.

SEE MORE

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: Silverado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k305k

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

Neighborhood: Silverado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
John C. Bass Elementary School Primary Regular 885 46 6
Charles Silvestri Junior High School Middle Regular 1,748 68 NA
Liberty High School High Regular 2,496 105 5

John C. Bass Elementary School

  • Education Level: Primary
  • # of students: 885
  • # of teachers: 46
6
GreatSchools Rating

Charles Silvestri Junior High School

  • Education Level: Middle
  • # of students: 1,748
  • # of teachers: 68
NA
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,496
  • # of teachers: 105
5
GreatSchools Rating
 

$508,500$621,500$565,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,962
Property Tax -$320
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
-$566

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.

$565,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.2%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$155,475

INVESTMENT

$155,475

Down Payment
$141,250
Rehab Estimate
$5,750
Closing Costs
$8,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,962

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $141,250
Loan Amount $423,750
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,907

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,631

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,5503$1,5504$1,7755$1,900
$1,900
RENT COMPS ANALYSIS
  • 260 Ben Johnson Court Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,947 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,947 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.98
    •  
  • 383 Jolly January Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,866 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,866 Sqft ∙ Built 2001
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.75
    •  
  • 10186 Crepe Myrtle Court Las Vegas, NV 2
    • 3 beds 4 baths ∙ 1,875 Sqft ∙ Built 2000 3 beds 4 baths ∙ 1,875 Sqft ∙ Built 2000
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.83
    •  
  • 9768 Iron Mine Street Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,777 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,777 Sqft ∙ Built 2006
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.87
    •  
  • 517 Pearberry Avenue Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,962 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,962 Sqft ∙ Built 2000
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.90
    •  
PROPERTY LISTING DETAILS
Debi Handley
1.702.493.6043
Knapp Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2265587
Last Updated: 02/07/2021
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