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4928 Forest Oaks Drive Las Vegas, NV 89149

3 Beds 1 Baths 1,508 sqft Built 1993

$300,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $198.94
  • 6 Days on Market
  • MLS # : 2249531
  • Updated Date : 12/01/2020 at 17:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,508 sqft
  • Baths : 1 full
Listing Agent

Realty Executives Experts

Listing Agent's Description

FANTASTIC LOCATION IN NORTHWEST ADJOINING CENTENNIAL HILLS, SITUATED IN HIGHLY COVETED PAINTED DESERT GUARD GATED COMMUNITY! LOCATED NEAR SHOPPING, RESTURANTS, TRADER JOES, HOME DEPOT, HOME GOODS, WALMART SUPER CENTER, SAMS CLUB, LOWES & CENTENNIAL CENTER! HARD TO FIND RARE OPPORTUNITY 1509 SQ FT GORGEOUS SINGLE STORY ON 13TH FAIRWAY OFFERING 3 BEDROOMS, 2 BATHS & 2 CAR GARAGE. DECORATIVE GLASS FRONT DOOR ENTRY. DRAMATIC VAULTED CEILING ENTRY W/STUNNING ENGINEERED WOOD FLOORS THRU-OUT. ENJOY COOKING IN KITCHEN THAT OFFERS QUARTZ COUNTERS, GLASS TILE BACKSPLASH, RECESSED LIGHTS, PENDANT LIGHTING OVER BREAKFAST BAR & DARK CABINETS W/PULL OUT SHELVES. LOTS OF WINDOWS FOR NATURAL LIGHT. DINING AREA LEADS TO LIVING ROOM W/VAULTED CEILING, GAS FIREPLACE, CEILING FAN & DUAL FRENCH SINGLE LITE SLIDINGS DOORS W/INSET BLINDS LEADS TO BACKYARD COVERED PATIO W/STUNNING GOLF & MOUNTAIN VIEWS! SPACIOUS PRIMARY BEDROOM W/EN-SUITE OFFERS QUARTZ COUNTERS, WALK-IN SHOWER & CUSTOM CLOSET. SO MUCH MORE!

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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: Painted Desert

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Painted Desert

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10761989

* 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
Ruthe Deskin Elementary School Primary Regular 624 36 6
Justice M E Leavitt Middle School Middle Regular 1,496 64 NA
Centennial High School High Regular 3,055 124 6

Ruthe Deskin Elementary School

  • Education Level: Primary
  • # of students: 624
  • # of teachers: 36
6
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
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$1,107
Property Tax -$210
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
$78

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.

$300,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 6.5%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$32,483

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,429

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4953$1,4954$1,5505$1,570
$1,570
RENT COMPS ANALYSIS
  • 4928 Forest Oaks Drive Las Vegas, NV 5
    • 3 beds 1 baths ∙ 1,508 Sqft ∙ Built 1993 3 beds 1 baths ∙ 1,508 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $1.04
    •  
  • 6932 White Lakes Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,557 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,557 Sqft ∙ Built 1995
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.90
    •  
  • 6532 Romance Circle Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1984
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.93
    •  
  • 7024 Overhill Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1996
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.96
    •  
  • 6705 Painted Canyon Court Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,557 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,557 Sqft ∙ Built 1996
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.00
    •  
PROPERTY LISTING DETAILS
Shane K Scott
1.702.656.5900
Realty Executives Experts
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249531
Last Updated: 12/01/2020
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