Updated Four-Unit
For Sale
$720,000
126 E First St N, Mesquite, NV 89027
Multi Family, 2 story above ground, Mesquite, NV
Property Size3,080 SF
Lot Size0.22 Acres
Price / SF$233.77
Days on Market185
Property Features for 126 E First St N
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family, Residential
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bedroom 7, Bedroom 6, Bathroom 1, Bedroom 2, Bedroom 8, Bedroom 3, Bedroom 4, Bedroom 5, Bathroom 4, Bathroom 3, Bathroom 2
Interior features
Flooring- Laminate
Appliances
Dishwasher, Freezer, Garbage Disposal, Refrigerator, W/D Hookups, Washer & Dryer, Water Heater- Electric, Oven/Range, Oven/Range- Electric
Subdivision
None (No Subdivision)
Lot features
Curb & Gutter, Sidewalks
Elementary school
Bowler
Middle school
Charles A. Hughes
High school
Virgin Valley
Standard status
Active
APN
00116603002
Size
3,080 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Annual Amount
2130
Utilities
Heating system
Electric (Heating), Heat Pump (Heating)
Cooling system
Central Air, Heat Pump, Electric
Building Details
Year built
1988
Floors in Building
2
Number of units
4
Roof type
Flat, Composition
Architectural style
Other
Listing Agency:
Prime Properties Mesquite
Listed By:
E. Shaun Caldwell · License #B.0143955.LLC
(702) 701-3326
Added: Mar 19
Changed: Sep 15
Last Checked: Sep 19 at 2:06PM
MLS# 1127515
Copyright © 2026 Mesquite Real Estate Association. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story quadplex contains four residential units, each configured with two bedrooms and one bathroom across approximately 770 square feet. Recent improvements include interior paint, updated flooring, counters, appliances, select washer and dryer sets, and additional storage units. Heating and cooling are provided by electric heat pump systems and central air, while power is individually metered to tenants.
Located at 126 E First St N in Mesquite, the property is near parks, schools, the College of Southern Nevada Mesquite Campus, the library, community recreation facilities, shopping, and casinos. The 3,080-square-foot building sits on a 0.22-acre parcel and was built in 1988. Zoning is identified as Multi-Family, Residential.
Located at 126 E First St N in Mesquite, the property is near parks, schools, the College of Southern Nevada Mesquite Campus, the library, community recreation facilities, shopping, and casinos. The 3,080-square-foot building sits on a 0.22-acre parcel and was built in 1988. Zoning is identified as Multi-Family, Residential.
Key Highlights
- Four residential units, each with 2 bedrooms and 1 bathroom
- 3,080‑square‑foot building on a 0.22‑acre lot
- Each unit measures approximately 770 sf
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$40,469
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.62%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$809,380
$809.4K
Cap Rate 7%
$578,129
$578.1K
Cap Rate 9%
$449,656
$449.7K
Market Conditions
NOI Build-Up for 3,080 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$61.0K $19.80/SF
− Vacancy
−$3.2K −$1.03/SF
EGI
$57.8K $18.77/SF
− OpEx
−$17.3K −$5.63/SF
NOI
$40.5K $13.14/SF
Area
Clark County, NV
Vacancy
5.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$809,380
Cap Rate 7%
$578,129
Cap Rate 9%
$449,656
Alternative Uses
Best Use
Multifamily LT 5
$578.1K
$505.9K – $674.5K
NOI $40,469 @ 7.0% cap · market cap 5.62%
Second Best
Apartment 5plus
$518.7K
$453.8K – $605.1K
NOI $36,306 @ 7.0% cap · market cap 5.04%
Theoretical Best
Office A
$799.3K
$699.4K – $932.5K
NOI $55,950 @ 7.0% cap · market cap 7.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
594
Businesses Nearby
Explore this area
Business Placement
Demographics for 89027, NV
17,547
Population
9,972
Households
1.8
Avg Household Size
59
Median Age
22%
College-Educated
89%
High-School Grad
12.5 sq mi
ZIP Area
1,404
Density / Sq Mi
$71,176
Median Household Income
$35,938
Median Earnings
$1,106
Median Rent
$343,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Two-story multifamily property with refreshed interiors, individual power metering, and central access to Mesquite amenities.
Where is this quadplex located?
The property is located at 126 E First St N Mesquite, NV.
What is the asking price?
The asking price for this property is $720,000.
What are key features of this property?
This property features: Four residential units, each with 2 bedrooms and 1 bathroom; 3,080‑square‑foot building on a 0.22‑acre lot; Each unit measures approximately 770 sf
