Single-Story
New
For Sale
$639,900
2553 Ellis Street, North Las Vegas, NV 89030
Four tenant-occupied residences offer a two-bedroom layout with one bath in each unit.
Property Size3,094 SF
Days on Market2
Property Features for 2553 Ellis Street
General Information
Standard status
Active
Size
3,094 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$1,539
Building Details
Building Size
3,094 SF
Year Built
1977
Listing Agency:
Fathom Realty
Listed By:
Maria G. Cegarra Guillen · License #S.0193735
(702) 936-9885
Source:
Virtuelre
Added: Sep 30
Last Checked: Oct 1 at 4:09PM
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 Fathom Realty
Investment Insights
Based on property information with market context.
This single-story quadplex, built in 1977, contains four tenant-occupied residences. Each unit has two bedrooms and one bathroom, providing a consistent configuration across the property.
The property is in North Las Vegas, with access to shopping, everyday services, and the I-15 corridor.
The property is in North Las Vegas, with access to shopping, everyday services, and the I-15 corridor.
Key Highlights
- Four residential units, each with 2 bedrooms and 1 bathroom
- Single‑story multifamily property
- Built in 1977
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
$35,235
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
5.51%
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%
$704,700
$704.7K
Cap Rate 7%
$503,357
$503.4K
Cap Rate 9%
$391,500
$391.5K
Market Conditions
NOI Build-Up for 3,094 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
$53.8K $17.40/SF
− Vacancy
−$3.5K −$1.13/SF
EGI
$50.3K $16.27/SF
− OpEx
−$15.1K −$4.88/SF
NOI
$35.2K $11.39/SF
Area
North Las Vegas, NV
Vacancy
6.50%
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%
$704,700
Cap Rate 7%
$503,357
Cap Rate 9%
$391,500
Alternative Uses
Best Use
Multifamily LT 5
$503.4K
$440.4K – $587.3K
NOI $35,235 @ 7.0% cap · market cap 5.51%
Second Best
Apartment 5plus
$465.2K
$407.0K – $542.7K
NOI $32,562 @ 7.0% cap · market cap 5.09%
Theoretical Best
Office A
$837.3K
$732.6K – $976.8K
NOI $58,610 @ 7.0% cap · market cap 9.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
524
Businesses Nearby
Explore this area
Business Placement
Demographics for 89030, NV
56,399
Population
16,632
Households
3.4
Avg Household Size
30
Median Age
5%
College-Educated
58%
High-School Grad
9.5 sq mi
ZIP Area
5,937
Density / Sq Mi
$46,204
Median Household Income
$31,787
Median Earnings
$1,139
Median Rent
$237,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four tenant-occupied residences offer a two-bedroom layout with one bath in each unit.
Where is this quadplex located?
The property is located at 2553 Ellis Street North Las Vegas, NV.
What is the asking price?
The asking price for this property is $639,900.
What are key features of this property?
This property features: Four residential units, each with 2 bedrooms and 1 bathroom; Single‑story multifamily property; Built in 1977
