Score
0Las Vegas, NV
145 E Harmon Ave #1908
400K
1 beds
2 baths
847 sqft
1 bd • 2 ba • 847 sf
This analysis was generated on 2/23/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
AI Property Analysis
0:000:00 / 0:00
List Price
$400,000
Price/Sq.Ft
$472
Year Built
2005
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
• Prime location on the Las Vegas Strip: The property is located in the MGM Signature, offering easy access to casinos, restaurants, and entertainment venues. The property is located on the 19th floor.
• Attractive amenities: The MGM Signature offers a variety of amenities, including a pool, spa, fitness center, and concierge services. The HOA includes recreation facilities.
• Potential for rental income: The property can be rented out to tourists, generating income when not in use by the owner. The rental rates for a one-bedroom are around $1212/month.
• Views: The unit offers views of Top Golf, Wet Republic, and the city skyline.
The Bad
• High price per square foot: At $472.26 per square foot, the property is priced higher than some other condos in Las Vegas. This could make it more difficult to achieve a good return on investment. The median income for Las Vegas is $39,680.
• Long days on market: The property has been on the market for 230 days, which could indicate that it is overpriced or has other issues. This could also indicate a limited pool of buyers.
• Fluctuating listing price: The listing price has changed several times over the past year, which could be a red flag for some buyers. The price has decreased twice recently, signaling the seller is trying to attract more buyers.
The Ugly
• Potential for high turnover in the building: Condos in the MGM Signature are often used as vacation rentals, which can lead to high turnover and wear and tear on the building. This can also lead to higher HOA fees.
• Limited control over rental management: Owners may be required to use the MGM Signature's rental management program, which may not be the most profitable option. Owners have limited control over who rents the property.
• Severe Heat Risk (8/10): Las Vegas summers are extremely hot. The 98th percentile temperature is 106°F and there are 6 hot days per year. This could lead to high energy bills and discomfort for some residents. Proper insulation is needed to mitigate high energy bills.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
• Buyers seeking a Las Vegas vacation property: The MGM Signature's location on the Strip, combined with hotel amenities and potential for rental income, makes it attractive to those desiring a convenient vacation home.
• Investors interested in short-term rental income: The property's location and hotel affiliation make it suitable for short-term rentals, potentially generating income when not in use by the owner. The property’s HOA includes insurance, recreation facilities and security.
• Individuals comfortable with condo living and HOA fees: This condo suits those accustomed to the lifestyle and associated costs of living in a high-rise building with shared amenities.
Not For
• Buyers seeking a primary residence in a quiet neighborhood: The MGM Signature is located on the Las Vegas Strip, which is a busy and noisy area. It may not be suitable for those seeking a peaceful residential environment.
• Families with children requiring larger living spaces and good school districts: The property is a one-bedroom condo with limited space. The school ratings for nearby schools are also below average.
• Buyers on a strict budget: The HOA fees and potential rental management fees can add up, making this property less affordable for those with limited financial resources.
Demographics
Area Median Income
$39,680
Property History
Price History
Ownership Timeline
$0Cash Purchase
Jan 6, 2006Owner Name UnavailableOwner Name Unavailable
Quit Claim Deed
Transfer
$9,000,000Cash Purchase
Aug 26, 2004Mgm Grand Hotel LlcTurnberry Of Mgm Grand Towers Llc
Grant Deed
Transfer
Property Taxes
$3,001
2024 Tax Assessment
8.0%from previous year
Assessed Value$119,439
Tax Rate2.51%
Sunlight Analysis
Visualize how sunlight affects this property throughout the day and year.
Sunlight Analysis
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Schools
Nearby school quality by education level
Elementary
3.0/10
Below AverageMiddle
3.0/10
Below AverageHigh
2.0/10
Below AverageFinancials
Monthly Costs
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$400,000
Price/sqft
$472
Layout
1 bd•2 ba
Days on market
230 daysat time of analysis
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$366,315
9.2%
Your price is 9.2% above average
Median Price
$375,888
6.4%
Based on 6 recent sales
Price per Sq.Ft
$412
14.6%
Your price is 14.6% above average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 135 E Harmon Avenue #1702, Las Vegas, NV 89109 | $335,000 | 874 | 1 | 2 | $38318.8% | 12/16/2024 |
| 145 E Harmon Avenue #321, Las Vegas, NV 89109 | $375,888 | 874 | 1 | 2 | $4308.9% | 12/16/2024 |
| 145 E Harmon Avenue #602, Las Vegas, NV 89109 | $385,000 | 874 | 1 | 2 | $4416.7% | 12/16/2024 |
| 145 HARMON Avenue #2620, Las Vegas, NV 89109 | $390,000 | 874 | 1 | 2 | $4465.5% | 11/13/2024 |
| 125 E Harmon Avenue #2902, Las Vegas, NV 89109 | $362,000 | 874 | 1 | 2 | $41412.3% | 11/8/2024 |
| 230 E Flamingo Road #223, Las Vegas, NV 89169 | $350,000 | 974 | 2 | 2 | $35923.9% | 12/21/2024 |
135 E Harmon Avenue #1702, Las Vegas, NV 89109
Price: $335,000
Sq.Ft: 874
Beds/Baths: 1/2
$/Sq.Ft:
$38318.8%
Sale Date: 12/16/2024
145 E Harmon Avenue #321, Las Vegas, NV 89109
Price: $375,888
Sq.Ft: 874
Beds/Baths: 1/2
$/Sq.Ft:
$4308.9%
Sale Date: 12/16/2024
145 E Harmon Avenue #602, Las Vegas, NV 89109
Price: $385,000
Sq.Ft: 874
Beds/Baths: 1/2
$/Sq.Ft:
$4416.7%
Sale Date: 12/16/2024
145 HARMON Avenue #2620, Las Vegas, NV 89109
Price: $390,000
Sq.Ft: 874
Beds/Baths: 1/2
$/Sq.Ft:
$4465.5%
Sale Date: 11/13/2024
125 E Harmon Avenue #2902, Las Vegas, NV 89109
Price: $362,000
Sq.Ft: 874
Beds/Baths: 1/2
$/Sq.Ft:
$41412.3%
Sale Date: 11/8/2024
230 E Flamingo Road #223, Las Vegas, NV 89169
Price: $350,000
Sq.Ft: 974
Beds/Baths: 2/2
$/Sq.Ft:
$35923.9%
Sale Date: 12/21/2024
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