Updated Duplex with RV Hookup
New
For Sale
$399,900
706 Dike Lane, Las Vegas, NV 89106
Residential, Las Vegas, NV
Property Size1,982 SF
Lot Size0.17 Acres
Price / SF$201.77
Days on Market2
Property Features for 706 Dike Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Window features
Blinds
Interior features
Ceiling Fan(s), Window Treatments
Appliances
Dryer, Dishwasher, Microwave, Refrigerator, Washer
Elementary school
,
Directions
FROM RANCHO AND THE 95, NORTH ON RANCHO TO BONANZA, RIGHT ON BONANZA, LEFT ON DIKE. HOUSE IS ON THE RIGHT SIDE OF STREET.
Special listing conditions
In Foreclosure, Real Estate Owned
Standard status
Active
APN
139-29-704-021
Size
1,982 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
1578
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1953
Floors in Building
2
Number of units
2
Flooring type
Vinyl
Building materials
Wood Siding
Architectural style
Other
Listing Agency:
Keller Williams MarketPlace · Keller Williams Realty
(702) 939-0000
Listed By:
Denny Seybert · License #S.0049671
(702) 499-9947
Added: Sep 23
Last Checked: Sep 24 at 3:06PM
MLS# 2821150
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 1,982-square-foot duplex, built in 1953, occupies a 0.17-acre lot and includes two residential units. Recent improvements include luxury vinyl plank flooring, stainless steel appliances, and new interior paint. Each unit has access to on-site and street parking, while sewer plumbing is in place for a potential RV hookup. Interior features include ceiling fans and window treatments, with central heating and cooling, public water, and public sewer service.
The property is near downtown Las Vegas, the Las Vegas Strip, convention centers, shopping, dining, and freeway access. Appliances include washers, dryers, dishwashers, microwaves, and refrigerators. Wood siding and vinyl flooring complete the primary material and finish profile.
The property is near downtown Las Vegas, the Las Vegas Strip, convention centers, shopping, dining, and freeway access. Appliances include washers, dryers, dishwashers, microwaves, and refrigerators. Wood siding and vinyl flooring complete the primary material and finish profile.
Key Highlights
- Duplex with 1,982 square feet of building area
- 0.17‑acre lot
- Built in 1953
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
$22,813
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
5.70%
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%
$456,260
$456.3K
Cap Rate 7%
$325,900
$325.9K
Cap Rate 9%
$253,478
$253.5K
Market Conditions
NOI Build-Up for 1,982 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
$34.5K $17.40/SF
− Vacancy
−$1.9K −$0.96/SF
EGI
$32.6K $16.44/SF
− OpEx
−$9.8K −$4.93/SF
NOI
$22.8K $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%
$456,260
Cap Rate 7%
$325,900
Cap Rate 9%
$253,478
Alternative Uses
Best Use
Multifamily LT 5
$325.9K
$285.2K – $380.2K
NOI $22,813 @ 7.0% cap · market cap 5.70%
Second Best
Apartment 5plus
$301.2K
$263.5K – $351.4K
NOI $21,082 @ 7.0% cap · market cap 5.27%
Theoretical Best
Specialty Retail
$684.9K
$599.3K – $799.0K
NOI $47,941 @ 7.0% cap · market cap 11.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
540
Businesses Nearby
Explore this area
Business Placement
Demographics for 89106, NV
27,695
Population
10,906
Households
2.5
Avg Household Size
33
Median Age
11%
College-Educated
73%
High-School Grad
5.1 sq mi
ZIP Area
5,430
Density / Sq Mi
$38,848
Median Household Income
$31,265
Median Earnings
$1,169
Median Rent
$263,100
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with refreshed interiors, stainless steel appliances, and parking available on-site and along the street.
Where is this duplex located?
The property is located at 706 Dike Lane Las Vegas, NV.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Duplex with 1,982 square feet of building area; 0.17‑acre lot; Built in 1953
