Duplex with Ample
For Sale
$421,000
1037 June Avenue, Las Vegas, NV 89104
Two-unit duplex built in 1951 with ample parking and no HOA.
Property Size1,292 SF
Days on Market47
Property Features for 1037 June Avenue
General Information
Standard status
Active
Size
1,292 SF
Property subtype
Duplex
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$527
Building Details
Building Size
1,292 SF
Year Built
1951
Tenancy
Multi
Listing Agency:
Realty ONE Group, Inc
(702) 273-8221
Listed By:
Daniela Mejia · License #S.0063711
(702) 273-8221
Source:
Vicerealtygroup
Added: Jun 24
Changed: Aug 8
Last Checked: Aug 9 at 11:16AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Realty ONE Group, Inc
Investment Insights
Based on property information with market context.
This duplex offers a two-unit setup with ample parking. The property was built in 1951 and is presented as an investment with one unit currently available to preview.
The location places it near the Las Vegas Strip and Downtown, with nearby freeway access for convenient commuting and everyday travel. No HOA is associated with the property.
For buyers looking for a simple two-unit residential income structure, this duplex provides a straightforward configuration: two units on one property with parking onsite and the ability to preview the unit that’s currently available.
The location places it near the Las Vegas Strip and Downtown, with nearby freeway access for convenient commuting and everyday travel. No HOA is associated with the property.
For buyers looking for a simple two-unit residential income structure, this duplex provides a straightforward configuration: two units on one property with parking onsite and the ability to preview the unit that’s currently available.
Key Highlights
- Two‑unit duplex with one unit available to preview
- Built in 1951
- Ample parking on site
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
$14,871
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
3.53%
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%
$297,420
$297.4K
Cap Rate 7%
$212,443
$212.4K
Cap Rate 9%
$165,233
$165.2K
Market Conditions
NOI Build-Up for 1,292 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
$22.5K $17.40/SF
− Vacancy
−$1.2K −$0.96/SF
EGI
$21.2K $16.44/SF
− OpEx
−$6.4K −$4.93/SF
NOI
$14.9K $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%
$297,420
Cap Rate 7%
$212,443
Cap Rate 9%
$165,233
Alternative Uses
Best Use
Multifamily LT 5
$212.4K
$185.9K – $247.9K
NOI $14,871 @ 7.0% cap · market cap 3.53%
Second Best
Apartment 5plus
$196.3K
$171.8K – $229.0K
NOI $13,742 @ 7.0% cap · market cap 3.26%
Theoretical Best
Specialty Retail
$446.4K
$390.6K – $520.9K
NOI $31,251 @ 7.0% cap · market cap 7.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
917
Businesses Nearby
Explore this area
Business Placement
Demographics for 89104, NV
41,662
Population
16,704
Households
2.5
Avg Household Size
38
Median Age
15%
College-Educated
72%
High-School Grad
5.7 sq mi
ZIP Area
7,309
Density / Sq Mi
$50,945
Median Household Income
$34,278
Median Earnings
$1,138
Median Rent
$298,700
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 - Two-unit duplex built in 1951 with ample parking and no HOA.
Where is this duplex located?
The property is located at 1037 June Avenue Las Vegas, NV.
What is the asking price?
The asking price for this property is $421,000.
What are key features of this property?
This property features: Two‑unit duplex with one unit available to preview; Built in 1951; Ample parking on site
