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4028 Woodgreen Drive Las Vegas, NV 89108

4 Beds 2 Baths 1,335 sqft Built 1982

$260,000

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $194.76
  • 3 Days on Market
  • MLS # : 2271607
  • Updated Date : 02/20/2021 at 02:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,335 sqft
  • Baths : 2 full
Listing Agent

Source Realty

Listing Agent's Description

Beautiful property on a corner lot in a great community. This property not only has charm but it also has the location. Near freeways, parks, shopping, entertainment, schools, gas stations, you name it! 4 bedrooms and 2 full baths are awaiting for you to call this your home. Synthetic grass on the back yard to save you money on water and the environment, with the benefit of a green look year round. Don't miss out on this opportunity, call now to schedule your showing!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: North Cheyenne

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k302k

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

Neighborhood: North Cheyenne

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10011606

* 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
Ruthe Deskin Elementary School Primary Regular 624 36 6
Justice M E Leavitt Middle School Middle Regular 1,496 64 NA
Centennial High School High Regular 3,055 124 6

Ruthe Deskin Elementary School

  • Education Level: Primary
  • # of students: 624
  • # of teachers: 36
6
GreatSchools Rating

Justice M E Leavitt Middle School

  • Education Level: Middle
  • # of students: 1,496
  • # of teachers: 64
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$903
Property Tax -$124
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
$91

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.

$260,000

PROJECTED PRICE

$1,290

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.7%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$25,793

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,238

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,170
1$1,1702$1,2003$1,2904$1,3005$1,400
$1,400
RENT COMPS ANALYSIS
  • 4028 Woodgreen Drive Las Vegas, NV 3
    • 4 beds 2 baths ∙ 1,335 Sqft ∙ Built 1982 4 beds 2 baths ∙ 1,335 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $0.97
    •  
  • 6908 Dorita Avenue #202 Las Vegas, NV 1
    • 3 beds 1 baths ∙ 1,321 Sqft ∙ Built 1997 3 beds 1 baths ∙ 1,321 Sqft ∙ Built 1997
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,170
    • $0.89
    •  
  • 6729 Sheffield Drive Las Vegas, NV 2
    • 3 beds 1 baths ∙ 1,276 Sqft ∙ Built 1983 3 beds 1 baths ∙ 1,276 Sqft ∙ Built 1983
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.94
    •  
  • 4021 Broadriver Drive Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,403 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,403 Sqft ∙ Built 1993
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.93
    •  
  • 6808 Old Castle Drive Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,472 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,472 Sqft ∙ Built 1980
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.95
    •  
PROPERTY LISTING DETAILS
Flavio G Jimenez
1.702.375.5974
Source Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2271607
Last Updated: 02/20/2021
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