The annotated spreadsheet shown below was downloaded from the Property Report.
Items I want to call out:
- Annual rent and price growth factors come from our 2026 Las Vegas Investor Outlook.
- The purchase price is determined by the market. Sellers want the highest price possible, while buyers want to pay the lowest price possible. The final price is where the two meet.
- Rent (Mo) is estimated by the property manager based on the current competition vs the after renovation condition. Rent is market driven. See How We Project Rents That Actually Materialize
- Fees (Mo) – This is the monthly equivalent of all annual association fees. For example, if the annual association fee is $120, the monthly equivalent is $10 per month ($120 ÷ 12 months).
- Property Tax – There is no formula for accurately estimating property taxes. We use the property’s actual tax amount from the MLS, which comes from the Clark County Assessor.
- Closing Cost Financed – Based on our study, closing costs average between 1.5% and 1.7% of the purchase price, including appraisal, inspections, loan fees, escrow fees, and other transaction-related expenses. We use 3% to provide a conservative estimate and allow for additional costs, such as buying down the mortgage rate.
- Closing Costs Cash – We use $2,000 as a reasonable estimate for closing costs when purchasing a property without financing. This includes escrow fees, inspections, and prepaid expenses such as insurance, property taxes, and HOA fees.
- The green-outlined area contains calculation formulas. I recommend not changing them. However, I encourage you to review the formulas to understand how each value is calculated.