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3869 Woodhill Avenue Las Vegas, NV 89121

4 Beds 1 Baths 1,785 sqft Built 1971

$350,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $196.08
  • 6 Days on Market
  • MLS # : 2257330
  • Updated Date : 12/22/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,785 sqft
  • Baths : 1 full
Listing Agent

Nevada Realty

Listing Agent's Description

Completely remodeled 4 bed 2 bath home, inground pool, waterproof vinyl plank flooring, new cabinets, quarts countertops, HVAC replaced 2 years ago, new water heater, water softener, new stove and dishwasher will be installed. Freshly painted inside and out.

SEE MORE

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
William E. Ferron Elementary School Primary Regular 538 29 5
C W Woodbury Middle School Middle Regular 902 39 NA
Chaparral High School High Regular 2,270 87 3

William E. Ferron Elementary School

  • Education Level: Primary
  • # of students: 538
  • # of teachers: 29
5
GreatSchools Rating

C W Woodbury Middle School

  • Education Level: Middle
  • # of students: 902
  • # of teachers: 39
NA
GreatSchools Rating

Chaparral High School

  • Education Level: High
  • # of students: 2,270
  • # of teachers: 87
3
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$1,291
Property Tax -$133
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
-$95

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.

$350,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$19,917

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,504

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,4003$1,4004$1,5105$1,595
$1,595
RENT COMPS ANALYSIS
  • 3869 Woodhill Avenue Las Vegas, NV 4
    • 4 beds 1 baths ∙ 1,785 Sqft ∙ Built 1971 4 beds 1 baths ∙ 1,785 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.85
    •  
  • 4210 Annie Oakley Drive #na Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 1973
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.81
    •  
  • 4414 East Flamingo Road Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,712 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,712 Sqft ∙ Built 1975
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.82
    •  
  • 3988 Salisbury Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,645 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,645 Sqft ∙ Built 1979
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.85
    •  
  • 4225 Greenhill Drive Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,787 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,787 Sqft ∙ Built 1971
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.89
    •  
PROPERTY LISTING DETAILS
Renee S Propps
1.702.301.9069
Nevada Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2257330
Last Updated: 12/22/2020
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