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4222 Woodcrest Road Las Vegas, NV 89121

3 Beds 2 Baths 1,984 sqft Built 1968

$464,000

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $233.87
  • 5 Days on Market
  • MLS # : 2258456
  • Updated Date : 01/01/2021 at 19:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,984 sqft
  • Baths : 2 full
Listing Agent

Rossum Realty Unlimited

Listing Agent's Description

Well maintained and fully renovated single story home in highly desirable Paradise Crest neighborhood. Truly unique executive community in the heart of Las Vegas - convenient to the Strip, airport and shopping. No HOA fees! Large and very private lot with mature desert landscaping. Sunken living room. Wood burning fireplace in great room. Modern bathrooms. Contemporary kitchen with stainless steel appliances, butcher block counters and recessed lighting. Neutral colors throughout. Berber carpeting and ceramic tiles. Two large storage sheds. Large covered rear patio.

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
George E. Harris Elementary School Primary Regular 700 38 3
C W Woodbury Middle School Middle Regular 902 39 NA
Chaparral High School High Regular 2,270 87 3

George E. Harris Elementary School

  • Education Level: Primary
  • # of students: 700
  • # of teachers: 38
3
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
 

$417,600$510,400$464,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,712
Property Tax -$191
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
-$247

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.

$464,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.40%

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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$128,710

INVESTMENT

$128,710

Down Payment
$116,000
Rehab Estimate
$5,750
Closing Costs
$6,960

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,712

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $116,000
Loan Amount $348,000
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$16,377

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,686

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5003$1,5954$1,7005$1,840
$1,840
RENT COMPS ANALYSIS
  • 4222 Woodcrest Road Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,984 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,984 Sqft ∙ Built 1968
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.93
    •  
  • 3356 Loma Linda Lane Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1974 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1974
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.83
    •  
  • 4102 Twain Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,854 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,854 Sqft ∙ Built 1973
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.81
    •  
  • 4225 Greenhill Drive Las Vegas, NV 3
    • 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
    •  
  • 4730 Monaco Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 1975
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.87
    •  
PROPERTY LISTING DETAILS
Stephen K Burrows
1.702.902.0731
Rossum Realty Unlimited
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2258456
Last Updated: 01/01/2021
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