North West Las Vegas home for sale in Loan Mountain area as an investment property

January 24th, 2009 · No Comments · Las Vegas homes, Las Vegas Real Estate

4012 Owlshead Mountain Street is a 2442 square foot Northwest Las Vegas home for sale that is located on Cliff Shadows, near 215 Beltway exit in Northwest Las Vegas.

I have refused many listings recently because I don’t like to list a home, condo or commercial property that I can’t sell, and due to a great downward pressure in pricing by foreclosure properties in Las Vegas, it is not easy. Any home or condo that is listed by a private seller should compete with foreclosures and short sales in pricing.

Another issue is that Las Vegas buyer’s agents look for value and usually that translates to price per square foot for similar homes or condos in the same subdivision. This is all good except that price per square foot misses balconies or cover patios that could run up to $50,000 for balcony-patios that cover the width of the house as balconies don’t count toward livable square footage.

The other issue is VIEWS. Strip, city or mountain views are worth money and if the builder knows that the house or condo is going to have a Strip or city view, then the builder charges a premium for this view which can run from $30,000-$300,000 or more depending on the location.

Now, 4012 Owlshead Mountain has a full width patio/balcony and panoramic views of city, Strip and the mountains, it is less than 5 minutes away from 3 parks, horse trails and my beloved Lone Mountain that is less than 300 yards from my home.

The other intangibles that are not calculated in price per square foot are how clean the house or condos are, time needed to lease the home by an investor, time and expenses that are needed to bring the home or condo up to good condition so it can be rented, and the most important factor of all, finding a good tenant that would take great care of the home.

4012 Owlshead Mountain has great tenants in place who pay $1,300 per month and have the home in pristine condition; I have never seen a better taken care of home, ever. Rental comps support $1500-$1600 per month, however these tenants who have a lease in place until Oct-2009 are worth the rent break.

I have priced this great 2444 square foot home at $285,000 and believe it is well worth it, homes with views like this one are a rare commodity in Las Vegas.

Click the following link to see the

Las Vegas MLS listing for 4012 Owlshead Mountain, in Northwest Las Vegas

I have also prepared a property profile for 4012 Owlshead Mountain

Property Profile Report provides potential buyers with comprehensive information about any Las Vegas home, condo or commercial property, such as:

Property Details
Quick Comps
Comparable Sales
Street/Aerial Map
Plat Maps
Nearby Homeowners
Community Profile
Demographics
Neighborhood Profile
Historical Sales Averages
School Report

We are one of the few real estate agents that have access to this data base, which we use as a tool to educate Las Vegas real estate buyers and sellers.

Please take a look at the pictures below to see what a great home this one is.