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$195,000

For Sale - Active
1351 Dorothy Ave Unit 3, Las Vegas, NV 89119
2 Beds
1 Bath
880 Square Feet
0.06 Acres Lot
Built in 1972
For Sale - Active
Units n/a
Checked: 24 hours ago
Updated: May 20, 2025 at 09:30AM

Investment Summary


Monthly Cash Flow
-$348
Cap Rate
3.5%
Cash-on-Cash Return
-9.3%
Debt Coverage Ratio
0.62
Internal Rate of Return (5 years)
-5.0%

Property Description


0.06 Acres Lot
Built in 1972
For Sale - Active
Units n/a

THIS PRIME CENTRALLY LOCATED 2 BEDROOM 1 BATH HOME IS IN CLOSE PROXIMITY TO THE UNIVERSITY OF NEVADA LAS VEGAS, THE LAS VEGAS STRIP, HARRY REID INTERNATIONAL AIRPORT AND FREEWAY ACCESS. THE COMMUNITY FACILITIES INCLUDE A BBQ AREA, PARK, REFRESHING POOL, MAINTAINED TENNIS COURTS AND ROVING SECURITY. NEARBY YOU WILL FIND SHOPPING, DINING AND OTHER AMENITIES. THE 2 BEDROOMS AND 1 BATHROOM IS UPSTAIRS.

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Location


Property Details


Parking

  • Description: Assigned, Covered, DetachedCarport
  • Details: Attached Carport, Assigned, Covered, Open
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Total): 1.0

Interior Features

  • # of Rooms: 6
  • # of Stories: 2

Exterior Features

  • Exterior Walls Materials: Siding (Alum/Vinyl)
  • Roof Material: Shake
  • Pool: Yes
  • Pool Community: Yes

HOA

  • Has HOA: Yes
  • Association: University Crest
  • HOA Fee: $275/monthly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 16223412015
  • Lot Size: 2812 sqft

Property Information

  • Property Type: Condominium
  • Style: TwoStory
  • Year Built: 1972

Tax Information

  • Annual Tax: $569

Utilities

  • Water & Sewer: Public
  • Heating: Central, Electric
  • Cooling: Central Air, Electric

Location

  • County: Clark

Listing Details


Listed by:
Kathryn M. Johnson
Compass Realty & Management
(702) 277-7493

Source:
Las Vegas REALTORS
MLS#: 2666480
Las Vegas REALTORS

Investment Summary


Monthly Cash Flow
-$348
Cap Rate
3.5%
Cash-on-Cash Return
-9.3%
Debt Coverage Ratio
0.62
Internal Rate of Return (5 years)
-5.0%

Purchase Details

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Purchase price:
$195,000
Amount financed:
-$156,000
Down payment:
$39,000
Closing costs:
$5,850
Rehab costs:
$0
Initial cash invested:
$44,850
Square feet:
880
Cost per square foot:
$222
Monthly rent per square foot:
$1.48

Financing Details

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Loan amount:
$156,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$923
Property tax:
$47
Insurance:
$91
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,061

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,300 $15,600
Vacancy loss: (6%)
6% -$78 -$936
Operating income:
$1,222 $14,664

Operating Expenses


% Rent Monthly Yearly
Property taxes: (4%)
4%-$47-$569
Insurance: (7%)
7%-$91-$1,092
Property management: (8%)
8%-$104-$1,248
Repairs & maintenance: (5%)
5%-$65-$780
Capital expenditures: (5%)
5%-$65-$780
HOA fees: (21%)
21%-$275-$3,300
Total operating expenses: (50%)
50%-$647-$7,769

Cash Flow


Monthly Yearly
Net operating income:
$575 $6,900
Mortgage payments:
-$923 -$11,076
Cash flow:
$348 $4,176