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512 Tomsik Street Las Vegas, NV 89145

3 Beds 1 Baths 1,698 sqft Built 1989

INVESTimate

$315,000

List Price

$1,390

$1,251 - $1,529

Rent Est.

$349,997  ( +11.11%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1989
  • Price/Sqft : $185.51
  • 2 Days on Market
  • MLS # : 2224742
  • Updated Date : 08/25/2020 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,698 sqft
  • Baths : 1 full
Listing Agent

Smg Realty

Listing Agent's Description

GREAT single story home in move-in condition. Enclosed 11x32 sun room with wall air conditioning unit to put your own spin on! Large clean kitchen with with breakfast bar and large walk in pantry. All appliances are included! Parquet flooring throughout house with tile in the kitchen and carpet in the living room. Mature landscape with fruit trees. Must see!

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: 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
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$1,162
Property Tax -$179
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
-$130

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.

$315,000

PROJECTED PRICE

$1,390

PROJECTED RENT

0.44%

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$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$13,633

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,477

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3903$1,4504$1,4505$1,690
$1,690
RENT COMPS ANALYSIS
  • 512 Tomsik Street Las Vegas, NV 2
    • 3 beds 1 baths ∙ 1,698 Sqft ∙ Built 1989 3 beds 1 baths ∙ 1,698 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.82
    •  
  • 8204 Ogee Drive Las Vegas, NV 1
    • 3 beds 1 baths ∙ 1,567 Sqft ∙ Built 1995 3 beds 1 baths ∙ 1,567 Sqft ∙ Built 1995
    property image
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.86
    •  
  • 8141 Bridle Path Way Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,747 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,747 Sqft ∙ Built 1984
    property image
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.83
    •  
  • 8321 Hatteras Court #0 Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 1992
    property image
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.85
    •  
  • 464 Roland Wiley Road Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,792 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,792 Sqft ∙ Built 1994
    property image
    LEASED 11/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.94
    •  
PROPERTY LISTING DETAILS
Jason Hendrickson
1.702.501.4637
Smg Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224742
Last Updated: 08/25/2020
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