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4705 Crimson Leaf Drive Las Vegas, NV 89130

4 Beds 2 Baths 1,502 sqft Built 1993

$334,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $222.37
  • 2 Days on Market
  • MLS # : 2280062
  • Updated Date : 03/21/2021 at 02:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,502 sqft
  • Baths : 2 full
Listing Agent

Redfin

Listing Agent's Description

NEW NEW NEW - Beautiful front yard landscaping welcomes you to this pristine home with Vaulted Ceilings & Tons of light. New Porcelain Wood Like Tile flows from the Formal living/dining or flexible space as a large family room. Amazing Custom Fireplace highlights the Great Room, generously open to large kitchen with an Island, New Stainless Steel Appliances, Gorgeous Espresso Cabinets and tons of new Oversized Tile Counters. Covered patio welcomes you to relax with your favorite beverage while gazing over your private newly landscaped backyard, with nice rock & synthetic grass for totally easy maintenance. Entire Home has been Freshly Painted inside & out and has a Brand New Roof!! New Blinds throughout w/ beautiful lights/ceiling fans in all spacious bedrooms. The Primary Suite is separate & generous with ensuite bath featuring double vanities, walk in closet and a large tub/shower. This home will check all the boxes with hard to find 4 bedrooms that provide space for everyone.

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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
Ernest May Elementary School Primary Regular 665 33 8
Theron L. Swainston Middle School Middle Regular 1,146 52 NA
Cheyenne High School High Regular 2,212 91 2

Ernest May Elementary School

  • Education Level: Primary
  • # of students: 665
  • # of teachers: 33
8
GreatSchools Rating

Theron L. Swainston Middle School

  • Education Level: Middle
  • # of students: 1,146
  • # of teachers: 52
NA
GreatSchools Rating

Cheyenne High School

  • Education Level: High
  • # of students: 2,212
  • # of teachers: 91
2
GreatSchools Rating
 

$300,600$367,400$334,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$1,160
Property Tax -$187
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
-$122

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.

$334,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.42%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$94,260

INVESTMENT

$94,260

Down Payment
$83,500
Rehab Estimate
$5,750
Closing Costs
$5,010

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,160

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,500
Loan Amount $250,500
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$12,375

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,401

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4003$1,4504$1,4505$1,475
$1,475
RENT COMPS ANALYSIS
  • 4705 Crimson Leaf Drive Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,502 Sqft ∙ Built 1993 4 beds 2 baths ∙ 1,502 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.93
    •  
  • 4401 Campo Circle Las Vegas, NV 1
    • 3 beds 1 baths ∙ 1,486 Sqft ∙ Built 1996 3 beds 1 baths ∙ 1,486 Sqft ∙ Built 1996
    property image
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.91
    •  
  • 4801 Fiesta Lakes Street Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 1990
    property image
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.92
    •  
  • 5821 Red Umber Avenue #n/a Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1994
    property image
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.97
    •  
  • 4540 Mancilla Street Las Vegas, NV 5
    • 3 beds 1 baths ∙ 1,586 Sqft ∙ Built 1996 3 beds 1 baths ∙ 1,586 Sqft ∙ Built 1996
    property image
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.93
    •  
PROPERTY LISTING DETAILS
Cheryl A Van Elsis
1.702.612.7777
Redfin
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2280062
Last Updated: 03/21/2021
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