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305 Chastine Street Las Vegas, NV 89145

3 Beds 1 Baths 1,514 sqft Built 1985

$299,900

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $198.08
  • 5 Days on Market
  • MLS # : 2258305
  • Updated Date : 12/31/2020 at 06:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,514 sqft
  • Baths : 1 full
Listing Agent

Keller Williams Market Place

Listing Agent's Description

Beautiful house with 3 bedrooms, 2 baths, and 2 garages. Great conditions. The kitchen features granite countertops, stainless steel appliances. Master Bedroom upstairs. Nice loft area on 2nd floor. Low maintenance backyard. No HOA fee!

SEE MORE

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: 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
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$1,107
Property Tax -$148
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
$40

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.

$299,900

PROJECTED PRICE

$1,470

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.1%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

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

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$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$28,486

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,544

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3503$1,4704$1,6005$1,650
$1,650
RENT COMPS ANALYSIS
  • 305 Chastine Street Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,514 Sqft ∙ Built 1985 3 beds 1 baths ∙ 1,514 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.97
    •  
  • 249 Logansberry Lane Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,328 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,328 Sqft ∙ Built 1983
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.02
    •  
  • 413 Europa Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1994
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.02
    •  
  • 109 South Cimarron Road Las Vegas, NV 4
    • 3 beds 1 baths ∙ 1,620 Sqft ∙ Built 1980 3 beds 1 baths ∙ 1,620 Sqft ∙ Built 1980
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.99
    •  
  • 8257 Illusion Court Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,567 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,567 Sqft ∙ Built 1994
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.05
    •  
PROPERTY LISTING DETAILS
Nancy Li
1.702.353.0529
Keller Williams Market Place
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2258305
Last Updated: 12/31/2020
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