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3039 Woods Drive Las Vegas, NV 89108

3 Beds 2 Baths 1,862 sqft Built 1978

$399,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $214.29
  • 5 Days on Market
  • MLS # : 2264263
  • Updated Date : 01/30/2021 at 00:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,862 sqft
  • Baths : 2 full
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Charming 1 story home on a HUGE LOT with .46 acres, RV parking, workshop and lush green backyard landscaping!  Fantastic location at the end of a cul-de-sac on a private road that's zoned for horses.  Functional floor plan with 1862 square feet, 3 bedrooms, 2 full baths, and large man cave/secondary family room.  A cozy, wood burning, brick fireplace in the main living room.  Remodeled bathrooms and laundry room with new cabinets.   Spacious bedrooms with ceiling fans.  Original owners that have loved are cared for the home.  Hot water heater is 1 year old.

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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

Zip Code: 89108

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Zip Code: 89108

ZipNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9121603

* 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
Doris M. Reed Elementary School Primary Regular 564 31 1
Irwin And Susan Molasky Junior High School Middle Regular 1,131 50 NA
Cimarron Memorial High School High Regular 2,541 102 3

Doris M. Reed Elementary School

  • Education Level: Primary
  • # of students: 564
  • # of teachers: 31
1
GreatSchools Rating

Irwin And Susan Molasky Junior High School

  • Education Level: Middle
  • # of students: 1,131
  • # of teachers: 50
NA
GreatSchools Rating

Cimarron Memorial High School

  • Education Level: High
  • # of students: 2,541
  • # of teachers: 102
3
GreatSchools Rating
 

$359,100$438,900$399,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,386
Property Tax -$141
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
-$209

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.

$399,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.7%
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$1.6M

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$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,386

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$9,447

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,490

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4503$1,4504$1,5005$1,550
$1,550
RENT COMPS ANALYSIS
  • 3039 Woods Drive Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,862 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,862 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.81
    •  
  • 2700 Chokeberry Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,704 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,704 Sqft ∙ Built 1993
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.82
    •  
  • 3444 Trilogy Drive Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,761 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,761 Sqft ∙ Built 1998
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.82
    •  
  • 5649 Sheila Avenue #0 Las Vegas, NV 3
    • 3 beds 1 baths ∙ 2,007 Sqft ∙ Built 1963 3 beds 1 baths ∙ 2,007 Sqft ∙ Built 1963
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.72
    •  
  • 2633 Island Brook Drive Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,836 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,836 Sqft ∙ Built 1990
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.84
    •  
PROPERTY LISTING DETAILS
Nichole L Teter
1.702.503.4434
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2264263
Last Updated: 01/30/2021
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