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4963 Midnight Oil Drive Las Vegas, NV 89122

3 Beds 3 Baths 1,540 sqft Built 2002

$280,000

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 31, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $181.82
  • 2 Days on Market
  • MLS # : 2265434
  • Updated Date : 01/31/2021 at 05:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,540 sqft
  • Baths : 2 full , 1 half
Listing Agent

Dh Capital Realty

Listing Agent's Description

Gorgeous 3 bedrooms, 2-1/2 bathrooms, two-story home with covered patio. The first floor has Tile and the second floor has laminate throughout. Spacious living room with fireplace. Kitchen with granite countertops and breakfast nook. Walk-in closets in all the bedrooms. The master bath has dual sinks. Gated community with private surveillance, pool, and basketball court. There are no neighbors in the back or in the left side of the house. Easy access to freeway US-95.

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

Zip Code: 89122

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Zip Code: 89122

ZipNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
Sister Robert Joseph Bailey Elementary School Primary Regular 839 46 4
Francis Cortney Middle School Middle Regular 1,235 52 NA
Basic High School High Regular 2,367 100 3

Sister Robert Joseph Bailey Elementary School

  • Education Level: Primary
  • # of students: 839
  • # of teachers: 46
4
GreatSchools Rating

Francis Cortney Middle School

  • Education Level: Middle
  • # of students: 1,235
  • # of teachers: 52
NA
GreatSchools Rating

Basic High School

  • Education Level: High
  • # of students: 2,367
  • # of teachers: 100
3
GreatSchools Rating
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$973
Property Tax -$175
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
$6

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$280,000

PROJECTED PRICE

$1,330

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.1%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$973

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$16,562

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,324

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3303$1,3504$1,3955$1,498
$1,498
RENT COMPS ANALYSIS
  • 4963 Midnight Oil Drive Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $0.86
    •  
  • 4915 Midnight Oil Drive Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 2003
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.84
    •  
  • 4987 Miners Ridge Drive Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 2001
    LEASED 02/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.88
    •  
  • 5184 Clatsop Street #0 Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,634 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,634 Sqft ∙ Built 2008
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.85
    •  
  • 5371 Scotch Cap Drive Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,722 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,722 Sqft ∙ Built 2018
    LEASED 03/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,498
    • $0.87
    •  
PROPERTY LISTING DETAILS
Lissette Alzola-miguel
1.702.338.4587
Dh Capital Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2265434
Last Updated: 01/31/2021
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