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6573 Woodsworth Avenue Las Vegas, NV 89108

4 Beds 3 Baths 2,250 sqft Built 1996

$320,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $142.22
  • 5 Days on Market
  • MLS # : 2244625
  • Updated Date : 11/06/2020 at 17:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,250 sqft
  • Baths : 3 full
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Come see this Move in ready 2 story home on a corner lot with courtyard entry! Offering 4 bedrooms and 2 full bathrooms upstairs with an open den and full bath downstairs perfect for a home office or a kids play/learn space! All new 11x22 tile floors downstairs, new interior paint throughout along with new modern light fixtures. This layout has vaulted ceilings in the front formal living area, a formal dining and family room off the kitchen in the back with views of the backyard. The kitchen is nice and bright with a garden window looking out to the covered patio, along with a breakfast bar, pantry and new white appliances to stay. The bedrooms are spacious with all new carpet upstairs. The primary bathroom is a true retreat with both a garden tub and separate larger shower stall, double sinks and both a walk in closet and standard closet with mirrored doors. NO HOA fees, centrally located within close proximity to freeways, dining and shopping! Welcome home...

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: 89108

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Zip Code: 89108

ZipNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9121603

* 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
Wing And Lilly Fong Elementary School Primary Regular 867 43 6
J. Harold Brinley Middle School Middle Regular 914 41 NA
Cimarron Memorial High School High Regular 2,541 102 3

Wing And Lilly Fong Elementary School

  • Education Level: Primary
  • # of students: 867
  • # of teachers: 43
6
GreatSchools Rating

J. Harold Brinley Middle School

  • Education Level: Middle
  • # of students: 914
  • # of teachers: 41
NA
GreatSchools Rating

Cimarron Memorial High School

  • Education Level: High
  • # of students: 2,541
  • # of teachers: 102
3
GreatSchools Rating
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,181
Property Tax -$224
Property Insurance -$71
Property Management Fees -$119
CASH FLOW
$35

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.

$320,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.7%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$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$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$25,470

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,626

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5253$1,5504$1,6305$1,695
$1,695
RENT COMPS ANALYSIS
  • 6573 Woodsworth Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.72
    •  
  • 6612 Old Oxford Avenue Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,088 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,088 Sqft ∙ Built 1989
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.69
    •  
  • 6383 Blue Twilight Court Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,924 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,924 Sqft ∙ Built 2007
    LEASED 09/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.79
    •  
  • 1824 Villa Vista Way Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,194 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,194 Sqft ∙ Built 1994
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.71
    •  
  • 6565 Avon Court Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,407 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,407 Sqft ∙ Built 1988
    LEASED 10/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.70
    •  
PROPERTY LISTING DETAILS
Christina Cova-simmons
1.702.340.2525
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244625
Last Updated: 11/06/2020
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