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$320,000

For Sale - Active
2291 W Horizon Ridge Pkwy Unit 2208, Henderson, NV 89052
3 Beds
2 Baths
1,330 Square Feet
0.20 Acres Lot
Built in 2004
For Sale - Active
Units n/a
Checked: 7 hours ago
Updated: May 20, 2025 at 10:17AM

Investment Summary


Monthly Cash Flow
-$635
Cap Rate
3.3%
Cash-on-Cash Return
-10.4%
Debt Coverage Ratio
0.58
Internal Rate of Return (5 years)
-6.0%

Property Description


0.20 Acres Lot
Built in 2004
For Sale - Active
Units n/a

Unit 2208 is a 1330 sqft condo in The Gables Condominiums, Henderson. This inviting 3-bedroom, 2-bath home offers a dual appeal as both a comfortable residence and a turnkey investment opportunity. Currently tenant-occupied by a long-term resident since 2004, the occupant desires to remain in place post-sale, ensuring immediate and stable rental income for a savvy investor. This established tenancy provides secure, consistent occupancy and a seamless transition. Situated in one of Henderson’s most sought-after communities, the property boasts a prime location with convenient access to shopping, dining, and major transportation routes. It is an excellent opportunity for those seeking an income-producing asset with built-in rental stability. Offered at a competitive list price and sold subject to the existing tenancy, this property combines enduring stability with modern living amenities. Schedule your private showing today to experience the exceptional benefits this home has to offer.

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Location


Property Details


Parking

  • Description: Assigned, Covered
  • Details: Assigned, Covered
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 6
  • # of Stories: 2

Exterior Features

  • Exterior Walls Materials: Stucco
  • Roof Material: Tile

HOA

  • Has HOA: Yes
  • Association: The Gables Community
  • HOA Fee: $251/monthly

Land Information

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

Lot Information

  • Parcel ID: 17830712020
  • Lot Size: 8829 sqft

Property Information

  • Property Type: Condominium
  • Style: TwoStory
  • Year Built: 2004

Tax Information

  • Annual Tax: $1,341

Utilities

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

Location

  • County: Clark

Listing Details


Listed by:
Del Wratten
Realty 360
(702) 281-7505

Source:
Las Vegas REALTORS
MLS#: 2662841
Las Vegas REALTORS

Investment Summary


Monthly Cash Flow
-$635
Cap Rate
3.3%
Cash-on-Cash Return
-10.4%
Debt Coverage Ratio
0.58
Internal Rate of Return (5 years)
-6.0%

Purchase Details

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Purchase price:
$320,000
Amount financed:
-$256,000
Down payment:
$64,000
Closing costs:
$9,600
Rehab costs:
$0
Initial cash invested:
$73,600
Square feet:
1,330
Cost per square foot:
$241
Monthly rent per square foot:
$1.35

Financing Details

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Loan amount:
$256,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$1,514
Property tax:
$112
Insurance:
$126
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,752

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,800 $21,600
Vacancy loss: (6%)
6% -$108 -$1,296
Operating income:
$1,692 $20,304

Operating Expenses


% Rent Monthly Yearly
Property taxes: (6%)
6%-$112-$1,341
Insurance: (7%)
7%-$126-$1,512
Property management: (8%)
8%-$144-$1,728
Repairs & maintenance: (5%)
5%-$90-$1,080
Capital expenditures: (5%)
5%-$90-$1,080
HOA fees: (14%)
14%-$251-$3,012
Total operating expenses: (45%)
45%-$813-$9,753

Cash Flow


Monthly Yearly
Net operating income:
$879 $10,548
Mortgage payments:
-$1,514 -$18,168
Cash flow:
$635 $7,620