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5142 Jones Boulevard #206 # 206 Las Vegas, NV 89118

2 Beds 2 Baths 920 sqft Built 1989

INVESTimate

$135,000

List Price

$1,010

$909 - $1,111

Rent Est.

$148,379  ( +9.91%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1989
  • Price/Sqft : $146.74
  • 10 Days on Market
  • MLS # : 2222600
  • Updated Date : 08/23/2020 at 11:12
CONSTRUCTION
  • Beds : 2
  • Floor Size : 920 sqft
  • Baths : 2 full
Listing Agent

A-me Realty & Property Mgmt

Listing Agent's Description

Location! Location! Location! Upscale style condo in GATED community.Brand new AC just change a few months. two separate Master bedroom,skylights in one of bathroom, open living with built in bookcase. Mirror door and walking closet. The granite counters top in Kitchen and bathroom. Convenient to freeway 215 and shop center! Waiting for you!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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 Jydstrup Elementary School Primary Regular 765 32 5
Grant Sawyer Middle School Middle Regular 1,308 52 NA
Durango High School High Regular 2,302 95 5

Helen Jydstrup Elementary School

  • Education Level: Primary
  • # of students: 765
  • # of teachers: 32
5
GreatSchools Rating

Grant Sawyer Middle School

  • Education Level: Middle
  • # of students: 1,308
  • # of teachers: 52
NA
GreatSchools Rating

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$121,500$148,500$135,000

PURCHASE PRICE

$909$1,111$1,010

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,010
EXPENSES Loan Payment -$498
Property Tax -$80
Property Insurance -$45
HOA -$218
Property Management Fees -$119
CASH FLOW
$50

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.

$135,000

PROJECTED PRICE

$1,010

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.91%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$41,525

INVESTMENT

$41,525

Down Payment
$33,750
Rehab Estimate
$5,750
Closing Costs
$2,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$498

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $33,750
Loan Amount $101,250
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$12,720

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,010

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,005

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$975
1$9752$9953$1,0004$1,0105$1,050
$1,050
RENT COMPS ANALYSIS
  • 5142 Jones Boulevard #206 Las Vegas, NV 4
    • 2 beds 2 baths ∙ 920 Sqft ∙ Built 1989 2 beds 2 baths ∙ 920 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,010
    • $1.10
    •  
  • 5138 Jones #204 Las Vegas, NV 1
    • 2 beds 2 baths ∙ 920 Sqft ∙ Built 1989 2 beds 2 baths ∙ 920 Sqft ∙ Built 1989
    property image
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $975
    • $1.06
    •  
  • 5130 Jones Boulevard #108 Las Vegas, NV 2
    • 2 beds 2 baths ∙ 920 Sqft ∙ Built 1989 2 beds 2 baths ∙ 920 Sqft ∙ Built 1989
    property image
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $1.08
    •  
  • 5154 Jones Boulevard #105 Las Vegas, NV 3
    • 2 beds 2 baths ∙ 920 Sqft ∙ Built 1989 2 beds 2 baths ∙ 920 Sqft ∙ Built 1989
    property image
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $1.09
    •  
  • 5146 Jones #104 Las Vegas, NV 5
    • 2 beds 2 baths ∙ 920 Sqft ∙ Built 1989 2 beds 2 baths ∙ 920 Sqft ∙ Built 1989
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $1.14
    •  
PROPERTY LISTING DETAILS
Vivian H Liao
1.702.960.9623
A-me Realty & Property Mgmt
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222600
Last Updated: 08/23/2020
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