This is a great investment opportunity for anyone looking to invest in the Las Vegas housing market. The house is currently listed for $135k but will most likely close at over list. At $135k this house is priced so competitivley that it may receive multiple offers. I estimate the actual sales price will be closer to $145k. This house will easily rent between $1395 – $1495. Rice Real Estate is known as one of the best property management companies in Las Vegas. Call today: 702-574-1567
Beautiful 3 bed, 2.5 bath plus den home in Green Valley Ranch. The house sits in a quiet cul-de-sac and has a very private backyard. Desert landscaping in front and back makes for easy maintenance for the tenants. Kitchen has granite counters and hardwood flooring. Both bathrooms are also upgraded. This house should rent very quickly and rent will be between $1395 and $1495/month.
Address: 1982 Thunder Ridge
Square Feet: 1704
Sold Price: TBD - most likely $145k or above
Target Rent $1395 - $1495
Cash Flow Analysis
Purchase Price: $145,000 (may vary)
Down Payment: $29,000 (20%)
Loan Amount: $116,000
Mortgage Pmt: $623 (assuming 30yr fixed at 5%, market rates may vary)
Insurance: $35/mo (estimate, rate may vary)
HOA fee: $41/mo (estimate, rate may vary)
Property Management: $112/mo $(assuming an 8% fee)
Total Monthly Expense: $937/mo
Rental Comps: $1395/month (estimate, rate may vary)
Monthly cash flow: $1,395-$937=$618
Yearly cash flow: $7,416
1st Year Principal Reductions: $1,711
ROI = cash flow/down payment $7,416/$29,000=25.5%
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(all data current as of 5/21/2013)
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