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5029 Forest Oaks Drive Las Vegas, NV 89149

3 Beds 3 Baths 1,947 sqft Built 1989

$399,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $204.93
  • 3 Days on Market
  • MLS # : 2262658
  • Updated Date : 01/23/2021 at 20:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,947 sqft
  • Baths : 2 full , 1 half
Listing Agent

Prominent Realty Group Llc

Listing Agent's Description

IMMACULATE and well cared for 2 STORY, 3 BED home located in The Painted Desert Golf Community. Plantation shutters, GORGEOUS laminate WOOD floors and TILE throughout! BRIGHT and BEAUTIFUL kitchen features all STAINLESS STEEL appliances, GRANITE countertops and even a WINE FRIDGE. FRENCH DOORS lead to a COZY covered patio w/ STUNNING POOL, LUSH and MATURE landscaping with FRUIT TREES and BUILT IN BBQ! SPACIOUS MASTER w/double doors, WIC & separate TUB and shower. 3rd Bedroom perfect for OFFICE or NURSERY. A TRUE MUST SEE!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$359,100$438,900$399,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,386
Property Tax -$246
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
-$116

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.

$399,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.43%

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$1.2M

PROJECTED ANNUAL CASH FLOW

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

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$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,386

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$17,002

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,767

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,7003$1,8504$1,8855$1,900
$1,900
RENT COMPS ANALYSIS
  • 5029 Forest Oaks Drive Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,947 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,947 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.87
    •  
  • 7449 Desert Flame Court #0 Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,826 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,826 Sqft ∙ Built 1995
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.92
    •  
  • 4904 Planet Court #. Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,072 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,072 Sqft ∙ Built 1992
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.89
    •  
  • 4405 Vogue Street Las Vegas, NV 4
    • 3 beds 2 baths ∙ 2,060 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,060 Sqft ∙ Built 1995
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,885
    • $0.92
    •  
  • 5000 Forest Oaks Drive Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,114 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,114 Sqft ∙ Built 1989
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.90
    •  
PROPERTY LISTING DETAILS
Jodi Fontana
1.917.699.9352
Prominent Realty Group Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2262658
Last Updated: 01/23/2021
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