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3924 Applecrest Street Las Vegas, NV 89108

2 Beds 2 Baths 1,184 sqft Built 1983

$257,900

List Price

$1,230

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

December 01, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $217.82
  • 6 Days on Market
  • MLS # : 2251602
  • Updated Date : 12/01/2020 at 15:30
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,184 sqft
  • Baths : 2 full
Listing Agent

Griffin Group Realty

Listing Agent's Description

BEAUTIFUL TWO BEDROOM TWO BATHROOM HOME THAT HAS BEEN COMPLETELY RENOVATED. NEW PAINT, FLOORING THROUGHOUT, UPGRADED LIGHT FIXTURES, QUARTZ COUNTERTOPS, STAINLESS STEEL APPLIANCES AND MUCH MORE!! LARGE BEDROOMS WITH BATHROOMS ATTACHED. MOVE IN READY!

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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

Neighborhood: Woodcrest

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $94k296k

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

Neighborhood: Woodcrest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9061606

* 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
R.e. Tobler Elementary School Primary Regular 582 36 2
Irwin And Susan Molasky Junior High School Middle Regular 1,131 50 NA
Cheyenne High School High Regular 2,212 91 2

R.e. Tobler Elementary School

  • Education Level: Primary
  • # of students: 582
  • # of teachers: 36
2
GreatSchools Rating

Irwin And Susan Molasky Junior High School

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

Cheyenne High School

  • Education Level: High
  • # of students: 2,212
  • # of teachers: 91
2
GreatSchools Rating
 

$232,110$283,690$257,900

PURCHASE PRICE

$1,107$1,353$1,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,230
EXPENSES Loan Payment -$952
Property Tax -$132
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
-$23

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.

$257,900

PROJECTED PRICE

$1,230

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,094

INVESTMENT

$74,094

Down Payment
$64,475
Rehab Estimate
$5,750
Closing Costs
$3,869

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$952

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,475
Loan Amount $193,425
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$18,746

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,230

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,060

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$798
1$7982$1,2003$1,2304$1,3005$1,300
$1,300
RENT COMPS ANALYSIS
  • 3924 Applecrest Street Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,184 Sqft ∙ Built 1983 2 beds 2 baths ∙ 1,184 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,230
    • $1.04
    •  
  • 3717 Snorkel #4 Las Vegas, NV 1
    • 2 beds 1 baths ∙ 912 Sqft ∙ Built 1984 2 beds 1 baths ∙ 912 Sqft ∙ Built 1984
    property image
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $798
    • $0.88
    •  
  • 6156 Pine Villa Avenue #104 Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,369 Sqft ∙ Built 2000 2 beds 2 baths ∙ 1,369 Sqft ∙ Built 2000
    property image
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.88
    •  
  • 3825 Summer Breeze Circle Las Vegas, NV 4
    • 2 beds 3 baths ∙ 1,489 Sqft ∙ Built 1982 2 beds 3 baths ∙ 1,489 Sqft ∙ Built 1982
    property image
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.87
    •  
  • 3940 Quiet Pine Street #203 Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,369 Sqft ∙ Built 2000 2 beds 2 baths ∙ 1,369 Sqft ∙ Built 2000
    property image
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.95
    •  
PROPERTY LISTING DETAILS
Jamie A Griffin
1.702.479.0079
Griffin Group Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2251602
Last Updated: 12/01/2020
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