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4403 Fernbrook Road Las Vegas, NV 89103

4 Beds 1 Baths 2,116 sqft Built 1973

$360,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1973
  • Price/Sqft : $170.13
  • 3 Days on Market
  • MLS # : 2243891
  • Updated Date : 11/01/2020 at 09:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,116 sqft
  • Baths : 1 full
Listing Agent

Holly Realty

Listing Agent's Description

Nicely remodeled Laurelwood home built by Pardee in the heart of Spring Valley with neighborhood park! Fresh paint in & out, new carpet, has wood & tile flooring too. Custom kitchen cabinets, new granite counter tops, new gas stove top, all appliances included. Two bedrooms upstairs share a 21x16 balcony. Primary bedroom has a 20x12 bonus room over the covered patio ( not included in sq ft ). 21x12 covered patio overlooking the pool & spa surrounded by fruit trees. Storage cabinets in finished garage with new garage door. Just maid cleaned and ready to move right in!

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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: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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
Harvey N. Dondero Elementary School Primary Regular 704 40 6
Kenny C. Guinn Middle School Middle Regular 820 40 NA
Durango High School High Regular 2,302 95 5

Harvey N. Dondero Elementary School

  • Education Level: Primary
  • # of students: 704
  • # of teachers: 40
6
GreatSchools Rating

Kenny C. Guinn Middle School

  • Education Level: Middle
  • # of students: 820
  • # of teachers: 40
NA
GreatSchools Rating

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$324,000$396,000$360,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,328
Property Tax -$158
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
$76

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.

$360,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.9%
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$1.2M$1.4M

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$37,701

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,777

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,7003$1,7504$1,7955$1,975
$1,975
RENT COMPS ANALYSIS
  • 4403 Fernbrook Road Las Vegas, NV 3
    • 4 beds 1 baths ∙ 2,116 Sqft ∙ Built 1973 4 beds 1 baths ∙ 2,116 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.83
    •  
  • 6589 Mermaid Circle Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,161 Sqft ∙ Built 1981 4 beds 2 baths ∙ 2,161 Sqft ∙ Built 1981
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.74
    •  
  • 4691 Hackamore Drive #0 Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,161 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,161 Sqft ∙ Built 1983
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.79
    •  
  • 4570 Freshwater Drive Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,161 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,161 Sqft ∙ Built 1980
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.83
    •  
  • 4200 Butterfield Way Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,980 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,980 Sqft ∙ Built 1977
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.00
    •  
PROPERTY LISTING DETAILS
Charlie Holly
1.702.373.4600
Holly Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243891
Last Updated: 11/01/2020
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