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328 Jones Boulevard Las Vegas, NV 89107

5 Beds 2 Baths 1,612 sqft Built 1961

$365,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $226.43
  • 2 Days on Market
  • MLS # : 2265525
  • Updated Date : 01/31/2021 at 00:01
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,612 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Vip

Listing Agent's Description

ZONE PROFESSIONAL!!!!!!!!!!! FULLY REMODELED building! This beautiful home features 5 Bedrooms with a HUGE Great Room: Brand New Kitchen with self closing hinges and with brilliant quartz counter tops. Ceramic and Wood Flooring, Two Tone paint, gorgeous bathrooms, The plus a one car Garage. located on a main street just about a mile off the 95 freeway

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: 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
Red Rock Elementary School Primary Regular 787 42 3
Frank F. Garside Junior High School Middle Regular 1,209 52 NA
Western High School High Regular 2,534 112 2

Red Rock Elementary School

  • Education Level: Primary
  • # of students: 787
  • # of teachers: 42
3
GreatSchools Rating

Frank F. Garside Junior High School

  • Education Level: Middle
  • # of students: 1,209
  • # of teachers: 52
NA
GreatSchools Rating

Western High School

  • Education Level: High
  • # of students: 2,534
  • # of teachers: 112
2
GreatSchools Rating
 

$328,500$401,500$365,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$1,268
Property Tax -$119
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
-$134

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.

$365,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.39%

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-$5.0k$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$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,268

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$12,246

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,366

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3403$1,4004$1,4305$1,495
$1,495
RENT COMPS ANALYSIS
  • 328 Jones Boulevard Las Vegas, NV 4
    • 5 beds 2 baths ∙ 1,612 Sqft ∙ Built 1961 5 beds 2 baths ∙ 1,612 Sqft ∙ Built 1961
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.89
    •  
  • 361 Mallard Street Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,418 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,418 Sqft ∙ Built 1960
    property image
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.91
    •  
  • 6224 Fairwood Avenue Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,770 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,770 Sqft ∙ Built 1963
    property image
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.76
    •  
  • 6117 Preston Las Vegas, NV 3
    • 4 beds 2 baths ∙ 1,596 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,596 Sqft ∙ Built 1960
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.88
    •  
  • 6221 Factor Las Vegas, NV 5
    • 4 beds 1 baths ∙ 1,770 Sqft ∙ Built 1963 4 beds 1 baths ∙ 1,770 Sqft ∙ Built 1963
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.84
    •  
PROPERTY LISTING DETAILS
Zoila Sanchez-escobedo
1.702.480.2233
Keller Williams Vip
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2265525
Last Updated: 01/31/2021
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