Meridian condominiums for sale in Las Vegas part one
Besides location and floor plan, the most important factor for a real estate investor is how much cash on cash income an investment home or condo generates after taxes and HOA fees (condo fees).
I have provided a chart for how much the asking price for different sized condominiums are at Meridian Las Vegas. I have only picked foreclosed condos at Meridian because short sales don’t offer a price advantage that is worth waiting for weeks to get an uncertain answer from the bank on a short sale.
Please note the large discrepancy between the asking prices for different condominium units of the same size. Up to $20,000 in price difference between the same sized condos could be justified due to a view or penthouse units. Any more than that would be hard to justify. Also note the HOA fee and taxes follow no logic; however the taxes may come down due to declining prices. Although taxes on Las Vegas properties are based on assessed value and not the purchase price, taxes have come down on other properties due to declining prices.
|
Square feet |
Bedrooms/ bath |
High-Low asking price |
Rent, duration, furnished |
Average monthly Tax+HOA fee* |
Average DOM, rental |
|
1294 |
2,2 |
$178,000-138,0000 |
$2500-$3000 1-3 month, furnished |
$684-$852 |
|
|
1035-1062 |
2,2 |
$148,000-$122,000 |
$2100-$2500, 1-3 month , furnished —————- 1 year unfurnished 1500-1800 |
$673-730 |
55 |
|
947 |
2,2 |
$209,000-123,000 |
$2100-$2700, 1-3, furnished ———— $1600-$2000, 4-6 ———————— $1300-$1500, Unfurnished, |
$620-$805 |
35-40 |
|
727-796 |
1,1 |
134,000-79,900 |
$1300-$1500,1-3, Furnished, $1000-$1200Unfurnished |
$530-$610 |
30 |
|
692 |
1,1 |
99,000-78,000 |
$1300-$1500, 1-3 furnished $1000-$1200, 7-12 unfurnished |
$535-$606 |
50 |
*Usually home association fee (HOA fee)or condo fees are the same for the same size condominiums but the builder set the HOA fees based on the sold prices for Meridian which is a point of contention between the original buyer’s and the builder.
As you can see, even with a couple months of vacancy, these condos can provide a real estate investor in Las Vegas with very good cash on cash return on his/her investment.
I just can’t get over the fact that this Meridian is only ten minutes from the heart of Las Vegas and these prices are rediculous. I have a few pictures from Meridian Las Vegas condos below.
Meridian Las vegas Condos pool and Spa
View from the balcony of a Penthouse unit at Meridian condos in Las Vegas
Upgraded appliences and kitchen cabinet at Meridian condo units
Related web-site links: Las Vegas homes, condos, land and commercial properties for sale, buying Las Vegas homes for sale, buying Las Vegas condos for sale
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