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4040 Roxanne Drive Las Vegas, NV 89108

5 Beds 2 Baths 3,782 sqft Built 1977

$649,900

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $171.84
  • 12 Days on Market
  • MLS # : 2277309
  • Updated Date : 03/21/2021 at 01:18
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,782 sqft
  • Baths : 2 full
Listing Agent

Urban Nest Realty

Listing Agent's Description

"They aren't building land anymore"...Super unique ranch style home on over a half acre w/ detached guest house (aprox 700 sqft) w/ attached tandem RV garage, green house w/ wood burning fireplace, indoor lap pool, private outdoor pool w/ diving board, California paddle tennis court, two sheds, RV gates and lots of concrete, garden area offers mature fruit trees( loquat, kumquat, lemon, pistachio and fig trees). Master bedroom has a wood burning fireplace as well. Guesthouse has full kitchen, loft style bedroom, full bath, stackable washer and dryer , balcony overlooking garden area and attached RV garage with full bathroom. Freshly painted both exterior and interior. No HOA. This is truly an opportunity to own a fabulous property!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
R.e. Tobler Elementary School Primary Regular 582 36 2
Justice M E Leavitt Middle School Middle Regular 1,496 64 NA
Centennial High School High Regular 3,055 124 6

R.e. Tobler Elementary School

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

$584,910$714,890$649,900

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$2,257
Property Tax -$285
Property Insurance -$100
Property Management Fees -$119
CASH FLOW
-$511

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.

$649,900

PROJECTED PRICE

$2,250

PROJECTED RENT

0.35%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$177,974

INVESTMENT

$177,974

Down Payment
$162,475
Rehab Estimate
$5,750
Closing Costs
$9,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,257

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,475
Loan Amount $487,425
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$8,025

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $0.59

    LIST RENT PER SQFT
  • $2,477

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2503$2,895
$2,895
RENT COMPS ANALYSIS
  • 4040 Roxanne Drive Las Vegas, NV 2
    • 5 beds 2 baths ∙ 3,782 Sqft ∙ Built 1977 5 beds 2 baths ∙ 3,782 Sqft ∙ Built 1977
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.59
    •  
  • 7732 Crenshaw Las Vegas, NV 1
    • 5 beds 2 baths ∙ 3,811 Sqft ∙ Built 1994 5 beds 2 baths ∙ 3,811 Sqft ∙ Built 1994
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.55
    •  
  • 7512 Cathedral Canyon Court #n/a Las Vegas, NV 3
    • 6 beds 3 baths ∙ 3,828 Sqft ∙ Built 1993 6 beds 3 baths ∙ 3,828 Sqft ∙ Built 1993
    property image
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $0.76
    •  
PROPERTY LISTING DETAILS
Jessica Berney
1.702.326.5220
Urban Nest Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2277309
Last Updated: 03/21/2021
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