Pahrump Multifamily Property For
For Sale
$400,000
1191 Fourth Street, Pahrump, NV 89048
MULTI_FAMILY - Other - Pahrump, NV
Property Size1,612 SF
Lot Size1.60 Acres
Price / SF$248.14
Days on Market156
Property Features for 1191 Fourth Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Appliances
Refrigerator
Subdivision
Raycraft
Elementary school
,
Directions
Highway 372 to Pahrump Valley right. To Fourth.
Standard status
Active
APN
35-305-02
Size
1,612 SF
Lot size
1.60 Acres
Taxes and HOA fees
Tax Annual Amount
769
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating)
Water source
Well, Private
Building Details
Year built
1965
Floors in Building
1
Number of units
2
Building materials
Stucco
Roof type
Tile
Architectural style
Other
Listing Agency:
Nevada Realty
(775) 727-1818
Listed By:
Sarah Chapman · License #S.0190718
(702) 327-8170
Added: Mar 6
Changed: Aug 2
Last Checked: Aug 9 at 4:06PM
MLS# 2762278
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 multifamily property is located in Pahrump, Nevada. The property has a building size of 1612 square feet and is situated on a 1.6-acre lot.
Key Highlights
- Year built: 1965
- Stucco exterior construction
- Tile roof
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
$14,326
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
3.58%
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%
$286,520
$286.5K
Cap Rate 7%
$204,657
$204.7K
Cap Rate 9%
$159,178
$159.2K
Market Conditions
NOI Build-Up for 1,612 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
$21.9K $13.56/SF
− Vacancy
−$1.4K −$0.86/SF
EGI
$20.5K $12.70/SF
− OpEx
−$6.1K −$3.81/SF
NOI
$14.3K $8.89/SF
Area
Nye County, NV
Vacancy
6.37%
Lease Rate
$13.56 /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%
$286,520
Cap Rate 7%
$204,657
Cap Rate 9%
$159,178
Alternative Uses
Best Use
Multifamily LT 5
$204.7K
$179.1K – $238.8K
NOI $14,326 @ 7.0% cap · market cap 3.58%
Second Best
Apartment 5plus
$188.6K
$165.0K – $220.0K
NOI $13,201 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$512.2K
$448.2K – $597.6K
NOI $35,857 @ 7.0% cap · market cap 8.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
492
Businesses Nearby
Explore this area
Business Placement
Demographics for 89048, NV
25,166
Population
11,571
Households
2.2
Avg Household Size
54
Median Age
13%
College-Educated
87%
High-School Grad
86.0 sq mi
ZIP Area
293
Density / Sq Mi
$55,747
Median Household Income
$35,405
Median Earnings
$1,162
Median Rent
$292,400
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 - Multifamily property in Pahrump, Nevada, featuring 1.6 acres.
Where is this duplex located?
The property is located at 1191 Fourth Street Pahrump, NV.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Year built: 1965; Stucco exterior construction; Tile roof
