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4121 Brookview Way Las Vegas, NV 89121

4 Beds 2 Baths 2,232 sqft Built 1971

$322,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $144.27
  • 4 Days on Market
  • MLS # : 2273037
  • Updated Date : 02/26/2021 at 21:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,232 sqft
  • Baths : 2 full
Listing Agent

Wardley Real Estate

Listing Agent's Description

Beautiful mid century single story pool home with incredible solar system. Four bedrooms, two of which are very large, formal living room and wonderful family room with open concept kitchen that looks out over the pool. Home is ready for your imagination. Gorgeous pine out front with charming gated yard. Also features rooftop balcony. Lots of storage on side of home with extra out building. Solar system is owned and to be sold under seperate bill of sale. Note for solar is through loanpal and needs to be assumed from current owner.

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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: 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
 

$289,800$354,200$322,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,118
Property Tax -$132
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
$220

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.

$322,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.52%

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$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,080

INVESTMENT

$91,080

Down Payment
$80,500
Rehab Estimate
$5,750
Closing Costs
$4,830

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,118

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,500
Loan Amount $241,500
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$43,147

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,607

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5003$1,5004$1,6605$1,850
$1,850
RENT COMPS ANALYSIS
  • 4121 Brookview Way Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,232 Sqft ∙ Built 1971 4 beds 2 baths ∙ 2,232 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.74
    •  
  • 3584 Freedom Las Vegas, NV 1
    • 3 beds 2 baths ∙ 2,025 Sqft ∙ Built 1972 3 beds 2 baths ∙ 2,025 Sqft ∙ Built 1972
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.72
    •  
  • 3797 Monument Street Las Vegas, NV 2
    • 3 beds 2 baths ∙ 2,025 Sqft ∙ Built 1971 3 beds 2 baths ∙ 2,025 Sqft ∙ Built 1971
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.74
    •  
  • 3501 Victory Avenue Las Vegas, NV 3
    • 3 beds 1 baths ∙ 2,345 Sqft ∙ Built 1973 3 beds 1 baths ∙ 2,345 Sqft ∙ Built 1973
    LEASED 02/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.64
    •  
  • 3178 Swallow Lane #0 Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,372 Sqft ∙ Built 1977 3 beds 3 baths ∙ 2,372 Sqft ∙ Built 1977
    LEASED 02/23/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.78
    •  
PROPERTY LISTING DETAILS
Lewis J Wardley
1.702.408.6220
Wardley Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2273037
Last Updated: 02/26/2021
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