Cap Rates-Investment Property

Cap Rates-Investment Property

Examples of Las Vegas real estate investment opportunities with CAP rates. (These numbers can vary and are estimates only!!) All single family homes are based on the following criteria: • 1400 square feet + (130 square meters +) • 2 car garage • Built year 2000 or after • 3 bedroom minimum I used 17 homes for averages that I feel would be good investments for rental, sit and hold property’s, earn great CAP rates not to mention the long term appreciation. Rental averages calculated based on the past 2 months of LEASED property through the Multiple Listing Service, this information may be limited due to a number of individual owners renting on their own. North area of North Las Vegas, new growth area at the edge of the mountain near Hwy 215/15, shopping, restaurants, parks, schools, bus lines, casinos, etc. Approximately a 30 minute drive to the Strip. Average LISTED price of homes $72,000, average SOLD price at market peak $245,000. Average monthly RENT for comparable properties $1191.00. Average monthly TAX cost $75.00, this will vary depending the time of purchase. Homes owners association monthly average $60.00. If you do not maintain the rental unit, property management fees (10%) $120.00 per month. Based on 11 month occupancy your CAP rate will be 13%. If you get a mortgage on the property, based on $72,000 purchase price, mortgage based on 20% down and 6% interest rate = $ 345.60 per month. Based on 11 month occupancy your CAP rate will be 7.5% South/Southwest areas of Las Vegas and Henderson, within 15-25 minutes of the Strip, close to Hwys 15 and 215. Land costs were higher in these areas resulting in higher purchase prices. All of the same amenities as the homes in N. LV. The same criteria was used to calculate these amounts. Average LISTED price of homes $128,000, average SOLD price at market peak $309,000. Average RENT for comparable properties $1235.00. Average TAX cost $126.00, this will vary depending time of purchase. Home owners association monthly average $103.00. If you do not maintain the rental unit, property management fees (10%) $123.50 per month. Based on 11 month occupancy your CAP rate will be 7.4%. If you get a mortgage on the property, based on $128,000 purchase price, mortgage based on 20% down and 6% interest rate = $615.00 per month. Based on 11 month occupancy your CAP rate will be just under 2%. Call Jeremy Doering-Mortgage Planner (702)423-8127  jd@greenmeansgrow.com

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