Duplex with Private
For Sale
$544,999
1569 Hialeah Drive, Las Vegas, NV 89119
MULTI_FAMILY - Other - Las Vegas, NV
Property Size2,067 SF
Lot Size0.24 Acres
Price / SF$263.67
Days on Market129
Property Features for 1569 Hialeah Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Garage
Patio and Porch features
Patio
Interior features
Ceiling Fan(s)
Exterior features
Private Yard
Appliances
Dishwasher, Exhaust Fan, Disposal, Range Hood
Subdivision
Hialeah Homes
Elementary school
,
Directions
From E Tropicana and S Maryland, proceed N on Maryland, right on Del Mar St, left on Hialeah Dr, and approach 1569 Hialeah Drive.
Standard status
Active
APN
162-23-311-003
Size
2,067 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Annual Amount
1899
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
fenced backyard
courtyard entrance
fireplace
Building Details
Year built
1977
Floors in Building
1
Number of units
2
Flooring type
Tile - Ceramic, Carpet, Tile
Building materials
Wood Frame
Roof type
Shingle, Composition
Architectural style
Other
Listing Agency:
Simply Vegas
(702) 568-6800
Listed By:
Jillian Hyde · License #S.0194939
(702) 439-3388
Added: Mar 31
Changed: Aug 2
Last Checked: Aug 6 at 3:06PM
MLS# 2769051
Copyright © 2026 Las Vegas REALTORS®. 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 duplex features two separate single-story residences, each with two bedrooms and two bathrooms, designed for privacy and everyday livability. Each home includes a private garage, a courtyard entrance, a fenced backyard with patio, and a fireplace. Interior comforts include ceiling fan(s), and the homes come with appliances such as a dishwasher, disposal, and range hood. Construction is wood frame, with ceramic tile and carpet flooring, and central heating and cooling.
Set on a 0.24-acre lot (10,454 SF, as described in the remarks), the property is located in a quiet, established neighborhood in Las Vegas, NV 89119. Public water and public sewer are available, and the roof is shingle/composition. The remarks also note quick access to UNLV, Harry Reid International Airport, the Las Vegas Strip, and major employment hubs.
The property’s current performance is described as a 5.6% cap rate.
Set on a 0.24-acre lot (10,454 SF, as described in the remarks), the property is located in a quiet, established neighborhood in Las Vegas, NV 89119. Public water and public sewer are available, and the roof is shingle/composition. The remarks also note quick access to UNLV, Harry Reid International Airport, the Las Vegas Strip, and major employment hubs.
The property’s current performance is described as a 5.6% cap rate.
Key Highlights
- Two single‑story residences, each with 2 bedrooms and 2 bathrooms
- Private garage for each unit plus courtyard entrance
- Fenced backyard with patio and fireplace in each home
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
$23,791
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
4.37%
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%
$475,820
$475.8K
Cap Rate 7%
$339,871
$339.9K
Cap Rate 9%
$264,344
$264.3K
Market Conditions
NOI Build-Up for 2,067 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
$36.0K $17.40/SF
− Vacancy
−$2.0K −$0.96/SF
EGI
$34.0K $16.44/SF
− OpEx
−$10.2K −$4.93/SF
NOI
$23.8K $11.51/SF
Area
Las Vegas, NV
Vacancy
5.50%
Lease Rate
$17.40 /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%
$475,820
Cap Rate 7%
$339,871
Cap Rate 9%
$264,344
Alternative Uses
Best Use
Multifamily LT 5
$339.9K
$297.4K – $396.5K
NOI $23,791 @ 7.0% cap · market cap 4.37%
Second Best
Apartment 5plus
$314.1K
$274.8K – $366.4K
NOI $21,986 @ 7.0% cap · market cap 4.03%
Theoretical Best
Specialty Retail
$714.2K
$625.0K – $833.3K
NOI $49,996 @ 7.0% cap · market cap 9.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,836
Businesses Nearby
Explore this area
Business Placement
Demographics for 89119, NV
48,895
Population
24,756
Households
2
Avg Household Size
36
Median Age
20%
College-Educated
84%
High-School Grad
12.9 sq mi
ZIP Area
3,790
Density / Sq Mi
$46,472
Median Household Income
$32,590
Median Earnings
$1,184
Median Rent
$301,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex on a 0.24-acre lot with private garages, courtyard entry, and fenced outdoor space for each 2-bedroom, 2-bath home.
Where is this duplex located?
The property is located at 1569 Hialeah Drive Las Vegas, NV.
What is the asking price?
The asking price for this property is $544,999.
What are key features of this property?
This property features: Two single‑story residences, each with 2 bedrooms and 2 bathrooms; Private garage for each unit plus courtyard entrance; Fenced backyard with patio and fireplace in each home
