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923 Moody Road Las Vegas, NV 89123

2 Beds 2 Baths 1,088 sqft Built 1993

$325,000

List Price

$1,270

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1993
  • Price/Sqft : $298.71
  • 6 Days on Market
  • MLS # : 2244663
  • Updated Date : 11/06/2020 at 16:29
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,088 sqft
  • Baths : 2 full
Listing Agent

Homesmart Encore

Listing Agent's Description

A one story home with a pool in area 303 is never easy to find....the house is in great shape to boot! The two bedroom, 2 bath floorpan has a separate kitchen with direct garage access and a bright living room with vaulted ceilings and a gas fireplace along the back wall. The kitchen features a bay window in the breakfast nook, and a built in microwave. Plantation shutters throughout; crown molding; and ceiling fans in every room!

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
Louis Wiener Jr Elementary School Primary Regular 701 39 7
Jack L. Schofield Middle School Middle Regular 1,332 51 NA
Silverado High School High Regular 2,263 94 5

Louis Wiener Jr Elementary School

  • Education Level: Primary
  • # of students: 701
  • # of teachers: 39
7
GreatSchools Rating

Jack L. Schofield Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 51
NA
GreatSchools Rating

Silverado High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
5
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$1,199
Property Tax -$166
Property Insurance -$48
Property Management Fees -$119
CASH FLOW
-$262

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.

$325,000

PROJECTED PRICE

$1,270

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
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

PROJECTED ANNUAL CASH FLOW

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

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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$5,863

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $1,393

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$1,270
1$1,2702$1,3503$1,3504$1,4005$1,420
$1,420
RENT COMPS ANALYSIS
  • 923 Moody Road Las Vegas, NV 1
    • 2 beds 2 baths ∙ 1,088 Sqft ∙ Built 1993 2 beds 2 baths ∙ 1,088 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $1.17
    •  
  • 922 Nellie Jo Drive Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,088 Sqft ∙ Built 1993 2 beds 2 baths ∙ 1,088 Sqft ∙ Built 1993
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.24
    •  
  • 610 Macbrey Drive #0 Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,053 Sqft ∙ Built 1989 2 beds 2 baths ∙ 1,053 Sqft ∙ Built 1989
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.28
    •  
  • 8409 Yamhill Street Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,088 Sqft ∙ Built 1994 2 beds 2 baths ∙ 1,088 Sqft ∙ Built 1994
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.29
    •  
  • 8459 Lodge Haven Street Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,088 Sqft ∙ Built 1994 2 beds 2 baths ∙ 1,088 Sqft ∙ Built 1994
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $1.31
    •  
PROPERTY LISTING DETAILS
Mark E Kronschnabel
1.702.496.2490
Homesmart Encore
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244663
Last Updated: 11/06/2020
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