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$380,000

For Sale - Active
8925 W Flamingo Rd Unit 111, Las Vegas, NV 89147
2 Beds
2 Baths
1,539 Square Feet
1.22 Acres Lot
Built in 2008
For Sale - Active
Units n/a
Checked: 5 hours ago
Updated: May 26, 2025 at 04:06PM

Investment Summary


Monthly Cash Flow
-$700
Cap Rate
3.5%
Cash-on-Cash Return
-9.6%
Debt Coverage Ratio
0.61
Internal Rate of Return (5 years)
-5.3%

Property Description


1.22 Acres Lot
Built in 2008
For Sale - Active
Units n/a

Experience luxury living in this stunning 2-bedroom, 2-bath condo within the exclusive Park House community in Las Vegas. This modern home features a spacious open layout, high-end finishes, and two dedicated parking spots in a secure, underground gated garage. What truly sets it apart is Park House itself—a resort-style oasis just minutes from the Strip and Red Rock Canyon. Enjoy a 75-foot pool with cabanas, a two-story fitness center, spas, sauna, yoga studios, a rooftop sundeck with fire pits and BBQ grills, plus concierge service and a gated pet park. This hidden gem offers an unmatched blend of sophistication, convenience, and community—perfect for an elevated lifestyle.

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Location


Property Details


Parking

  • Description: Assigned, Covered, Indoor, Guest
  • Details: Assigned, Covered, 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: 5
  • # of Stories: 1

Exterior Features

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

HOA

  • Has HOA: Yes
  • Association: ParkHouse HOA
  • HOA Fee: $875/monthly

Land Information

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

Lot Information

  • Parcel ID: 16320520011
  • Lot Size: 52969 sqft

Property Information

  • Property Type: Condominium
  • Style: OneStory
  • Year Built: 2008

Tax Information

  • Annual Tax: $1,991

Utilities

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

Location

  • County: Clark

Listing Details


Listed by:
Nikola Golub
Realty ONE Group, Inc
(702) 767-6130

Source:
Las Vegas REALTORS
MLS#: 2671359
Las Vegas REALTORS

Investment Summary


Monthly Cash Flow
-$700
Cap Rate
3.5%
Cash-on-Cash Return
-9.6%
Debt Coverage Ratio
0.61
Internal Rate of Return (5 years)
-5.3%

Purchase Details

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Purchase price:
$380,000
Amount financed:
-$304,000
Down payment:
$76,000
Closing costs:
$11,400
Rehab costs:
$0
Initial cash invested:
$87,400
Square feet:
1,539
Cost per square foot:
$247
Monthly rent per square foot:
$2.01

Financing Details

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Loan amount:
$304,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$1,798
Property tax:
$166
Insurance:
$217
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,181

Operating Income

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% Rent Monthly Yearly
Gross rent:
$3,100 $37,200
Vacancy loss: (6%)
6% -$186 -$2,232
Operating income:
$2,914 $34,968

Operating Expenses


% Rent Monthly Yearly
Property taxes: (5%)
5%-$166-$1,991
Insurance: (7%)
7%-$217-$2,604
Property management: (8%)
8%-$248-$2,976
Repairs & maintenance: (5%)
5%-$155-$1,860
Capital expenditures: (5%)
5%-$155-$1,860
HOA fees: (28%)
28%-$875-$10,500
Total operating expenses: (59%)
59%-$1,816-$21,791

Cash Flow


Monthly Yearly
Net operating income:
$1,098 $13,176
Mortgage payments:
-$1,798 -$21,576
Cash flow:
$700 $8,400