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521 Berry Circle Las Vegas, NV 89107

3 Beds 1 Baths 1,318 sqft Built 1955

INVESTimate

$219,900

List Price

$1,320

$1,188 - $1,452

Rent Est.

$246,442  ( +12.07%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1955
  • Price/Sqft : $166.84
  • 10 Days on Market
  • MLS # : 2222372
  • Updated Date : 08/22/2020 at 13:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,318 sqft
  • Baths : 1 full
Listing Agent

Go Global Realty

Listing Agent's Description

Beautifully remodeled home! Luxury kitchen, stainless steel appliances, granite counter tops, upgraded cabinets, elegant splash back. Bathroom fully remodel with lots of upgrades with a luxury look. Elegant and relaxing living room with a collectors fire place brings a beautiful touch to the home. Elegant floor tiles throughout the entire home makes the final touch. RV parking as well! This is a must see home.

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: 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
 

$197,910$241,890$219,900

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$811
Property Tax -$102
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
$235

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.

$219,900

PROJECTED PRICE

$1,320

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.07%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,024

INVESTMENT

$64,024

Down Payment
$54,975
Rehab Estimate
$5,750
Closing Costs
$3,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$811

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,975
Loan Amount $164,925
See What Happens When You Reinvest Cash Flow

10.92

YEARS SAVED

$42,008

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,344

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2503$1,2954$1,3205$1,385
$1,385
RENT COMPS ANALYSIS
  • 521 Berry Circle Las Vegas, NV 4
    • 3 beds 1 baths ∙ 1,318 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,318 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $1.00
    •  
  • 5605 Idle Avenue #- Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,218 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,218 Sqft ∙ Built 1955
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.03
    •  
  • 601 Decatur Boulevard Las Vegas, NV 2
    • 4 beds 1 baths ∙ 1,239 Sqft ∙ Built 1955 4 beds 1 baths ∙ 1,239 Sqft ∙ Built 1955
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.01
    •  
  • 5124 Lytton Avenue Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,314 Sqft ∙ Built 1961 3 beds 1 baths ∙ 1,314 Sqft ∙ Built 1961
    LEASED 10/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.99
    •  
  • 5133 Lytton Avenue Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,314 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,314 Sqft ∙ Built 1961
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,385
    • $1.05
    •  
PROPERTY LISTING DETAILS
Nancy Liu
1.702.553.7793
Go Global Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222372
Last Updated: 08/22/2020
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