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121 Stonewood Court Las Vegas, NV 89107

5 Beds 5 Baths 4,461 sqft Built 1968

INVESTimate

$999,999

List Price

$3,350

$3,100 - $3,600

Rent Est.

$1,120,999  ( +12.10%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1968
  • Price/Sqft : $224.16
  • 8 Days on Market
  • MLS # : 2220384
  • Updated Date : 08/21/2020 at 02:30
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,461 sqft
  • Baths : 3 full , 2 half
Listing Agent

Simply Vegas

Listing Agent's Description

OWN a piece of history. This is one of the few Historical & Vintage Las Vegas homes available located in the Rancho Nevada Estates. Single Story Ranch estate with circular driveway. Comfortably sitting on a spacious 1/2 acre and end of a private cul-de-sac. Backs up to The Springs Preserve, so no neighbors to the north. Real wood paneled ceilings in the Living Room. Custom kitchen counters. Large kitchen. Large Master bedroom and Master Bath. Lots of late 60's, early 70's character. Very Rare! This custom estate is home to one of the most notorious comedians and actors. Many celebrities spent their after show hours at this home. If only the walls could talk. Expansive backyard with heated pool/ spa. Split bedrooms. 2 beds + 1.5 bath on one side of the house and 3 beds + 2.5 baths on the other side. It's a great single story. 24 hours guard gated community in the historic Alta Rancho Historic District.

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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: Rancho Nevada Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $119k585k

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

Neighborhood: Rancho Nevada Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $10762846

* 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
Howard Wasden Elementary School Primary Regular 632 36 3
Hyde Park Middle School Middle Magnet 1,699 69 NA
Ed W. Clark High School High Magnet 3,066 129 7

Howard Wasden Elementary School

  • Education Level: Primary
  • # of students: 632
  • # of teachers: 36
3
GreatSchools Rating

Hyde Park Middle School

  • Education Level: Middle
  • # of students: 1,699
  • # of teachers: 69
NA
GreatSchools Rating

Ed W. Clark High School

  • Education Level: High
  • # of students: 3,066
  • # of teachers: 129
7
GreatSchools Rating
 

$899,999$1,099,999$999,999

PURCHASE PRICE

$3,015$3,685$3,350

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$10k$0.0$10k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,350
EXPENSES Loan Payment -$3,690
Property Tax -$359
Property Insurance -$114
HOA -$190
Property Management Fees -$119
CASH FLOW
-$1,121

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.

$999,999

PROJECTED PRICE

$3,350

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 12.10%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$270,750

INVESTMENT

$270,750

Down Payment
$250,000
Rehab Estimate
$5,750
Closing Costs
$15,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,690

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $250,000
Loan Amount $749,999
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$4,535

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,350

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $3,948

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,3503$4,899
$4,899
RENT COMPS ANALYSIS
  • 121 Stonewood Court Las Vegas, NV 2
    • 5 beds 5 baths ∙ 4,461 Sqft ∙ Built 1968 5 beds 5 baths ∙ 4,461 Sqft ∙ Built 1968
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $0.75
    •  
  • 230 Dalmatian Lane Las Vegas, NV 1
    • 5 beds 3 baths ∙ 4,498 Sqft ∙ Built 1970 5 beds 3 baths ∙ 4,498 Sqft ∙ Built 1970
    property image
    LEASED 11/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.67
    •  
  • 2100 Waldman Avenue Las Vegas, NV 3
    • 6 beds 5 baths ∙ 4,460 Sqft ∙ Built 1978 6 beds 5 baths ∙ 4,460 Sqft ∙ Built 1978
    property image
    LEASED 08/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,899
    • $1.10
    •  
PROPERTY LISTING DETAILS
Robert M Wilner
1.702.461.2000
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2220384
Last Updated: 08/21/2020
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