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$269,900

For Sale - Active
38 E Serene Ave Unit 134, Las Vegas, NV 89123
2 Beds
2 Baths
1,107 Square Feet
1.49 Acres Lot
Built in 2006
For Sale - Active
Units n/a
Checked: 1 day ago
Updated: Jul 20, 2025 at 03:25AM

Investment Summary


Monthly Cash Flow
-$610
Cap Rate
3.0%
Cash-on-Cash Return
-11.8%
Debt Coverage Ratio
0.52
Internal Rate of Return (5 years)
-7.4%

Property Description


1.49 Acres Lot
Built in 2006
For Sale - Active
Units n/a

Conveniently situated near shopping, dining, hotels, and just 4.5 miles from Allegiant Stadium, 5 miles from the proposed Oakland A's stadium, and 2.3 miles from the proposed Bright Line High-Speed Train Station. Convenient access to I-15/I-215, and 4.3 miles from the airport. The Condo features include a wrap-around balcony, oversized walk-in closet in the primary Bedroom, tile flooring in the living area, a separate laundry closet with full-size washer & dryer (included), crown moldings throughout the unit, a spacious kitchen with granite countertops, pantry and plenty of cabinet space and a dedicated underground Parking spot. The condo complex offers a range of amenities including 24-hour Guard gated security, two sparkling swimming pools, tennis court, a Jacuzzi, a dog walk; walking trails and a BBQ Area. The upscale fitness center includes a weight Room, separate cardio area and a Yoga Studio. The Internet cafe and conference room are available for business related-activities.

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Location


Property Details


Parking

  • Description: Underground, Guest
  • Details: Underground, Guest
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

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

Interior Features

  • # of Rooms: 4
  • # of Stories: 1

Exterior Features

  • Exterior Walls Materials: Stucco
  • Roof Material: Tile
  • Pool Community: Yes

HOA

  • Has HOA: Yes
  • Association: Manhattan Condo
  • HOA Fee: $338/monthly

Land Information

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

Lot Information

  • Parcel ID: 17721220416
  • Lot Size: 64778 sqft

Property Information

  • Property Type: Condominium
  • Year Built: 2006

Tax Information

  • Annual Tax: $2,018

Utilities

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

Location

  • County: Clark

Listing Details


Listed by:
Jerry E. Souris
eXp Realty
(702) 793-3553

Source:
Las Vegas REALTORS
MLS#: 2690132
Las Vegas REALTORS

Investment Summary


Monthly Cash Flow
-$610
Cap Rate
3.0%
Cash-on-Cash Return
-11.8%
Debt Coverage Ratio
0.52
Internal Rate of Return (5 years)
-7.4%

Purchase Details

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Purchase price:
$269,900
Amount financed:
-$215,920
Down payment:
$53,980
Closing costs:
$8,097
Rehab costs:
$0
Initial cash invested:
$62,077
Square feet:
1,107
Cost per square foot:
$244
Monthly rent per square foot:
$1.54

Financing Details

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Loan amount:
$215,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$1,277
Property tax:
$168
Insurance:
$119
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,564

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,700 $20,400
Vacancy loss: (6%)
6% -$102 -$1,224
Operating income:
$1,598 $19,176

Operating Expenses


% Rent Monthly Yearly
Property taxes: (10%)
10%-$168-$2,018
Insurance: (7%)
7%-$119-$1,428
Property management: (8%)
8%-$136-$1,632
Repairs & maintenance: (5%)
5%-$85-$1,020
Capital expenditures: (5%)
5%-$85-$1,020
HOA fees: (20%)
20%-$338-$4,056
Total operating expenses: (55%)
55%-$931-$11,174

Cash Flow


Monthly Yearly
Net operating income:
$667 $8,004
Mortgage payments:
-$1,277 -$15,324
Cash flow:
$610 $7,320