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$264,000

For Sale - Active
1455 E Katie Ave Unit L23, Las Vegas, NV 89119
3 Beds
2 Baths
1,266 Square Feet
0.20 Acres Lot
Built in 1980
For Sale - Active
Units n/a
Checked: 17 hours ago
Updated: May 26, 2025 at 11:22AM

Investment Summary


Monthly Cash Flow
-$682
Cap Rate
2.6%
Cash-on-Cash Return
-13.5%
Debt Coverage Ratio
0.45
Internal Rate of Return (5 years)
-9.0%

Property Description


0.20 Acres Lot
Built in 1980
For Sale - Active
Units n/a

Great Investment! 3 bedrooms, 2 baths Condominium. Granite countertops throughout, Carpet flooring in Livingroom, dining room, hallway, and bedrooms. Tile flooring in kitchen and bathrooms. Mirror closet doors on all the bedrooms, Blinds throughout, ceiling fan in dining room, Kitchen with breakfast bar, Balcony with great view of the Tennis and basketball court. Community with Laundry facility, mail room, clubhouse, pool, spa, playground, Tennis and basketball court. Centrally located, Excellent tenant.

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Location


Property Details


Parking

  • Details: Assigned, Covered, RV Access/Parking
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 7
  • # of Stories: 2

Exterior Features

  • Exterior Walls Materials: Stucco
  • Roof Material: Tile

HOA

  • Has HOA: Yes
  • Association: Valencia
  • HOA Fee: $341/monthly

Land Information

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

Lot Information

  • Parcel ID: 16214310340
  • Lot Size: 8564 sqft

Property Information

  • Property Type: Condominium
  • Style: TwoStory
  • Year Built: 1980

Tax Information

  • Annual Tax: $693

Utilities

  • Water & Sewer: Public
  • Heating: Central, Electric
  • Cooling: Ceiling Fan(s), Central Air, Electric

Location

  • County: Clark

Listing Details


Listed by:
Martin Ertini
Metropolitan Real Estate Group
(702) 357-6060

Source:
Las Vegas REALTORS
MLS#: 2676922
Las Vegas REALTORS

Investment Summary


Monthly Cash Flow
-$682
Cap Rate
2.6%
Cash-on-Cash Return
-13.5%
Debt Coverage Ratio
0.45
Internal Rate of Return (5 years)
-9.0%

Purchase Details

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Purchase price:
$264,000
Amount financed:
-$211,200
Down payment:
$52,800
Closing costs:
$7,920
Rehab costs:
$0
Initial cash invested:
$60,720
Square feet:
1,266
Cost per square foot:
$209
Monthly rent per square foot:
$1.11

Financing Details

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Loan amount:
$211,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$1,249
Property tax:
$58
Insurance:
$98
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,405

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,400 $16,800
Vacancy loss: (6%)
6% -$84 -$1,008
Operating income:
$1,316 $15,792

Operating Expenses


% Rent Monthly Yearly
Property taxes: (4%)
4%-$58-$693
Insurance: (7%)
7%-$98-$1,176
Property management: (8%)
8%-$112-$1,344
Repairs & maintenance: (5%)
5%-$70-$840
Capital expenditures: (5%)
5%-$70-$840
HOA fees: (24%)
24%-$341-$4,092
Total operating expenses: (53%)
53%-$749-$8,985

Cash Flow


Monthly Yearly
Net operating income:
$567 $6,804
Mortgage payments:
-$1,249 -$14,988
Cash flow:
$682 $8,184