Duplex with Fire
New
For Sale
$225,000
1828 Harvard St, North Las Vegas, NV 89030
Vacant residential property requiring repairs and rehabilitation.
Property Size1,300 SF
Price / SF$173.08
Days on Market7
Property Features for 1828 Harvard St
General Information
Standard status
Active
Size
1,300 SF
Property subtype
Multi-Family
Property Condition
Severity
Major Repairs Needed
Evidence
fire damage
Additional Details
Multifamily Units
2
Building Details
Year Built
1934
Listing Agency:
Innovative Real Estate Strateg
(702) 858-4211
Listed By:
Brandy J. White Elk · License #B.0009698
Source:
Tmgluxury
Added: Aug 22
Changed: Aug 27
Last Checked: Aug 28 at 12:47PM
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 Innovative Real Estate Strateg
Investment Insights
Based on property information with market context.
This duplex contains two residential units on a lot in North Las Vegas. Constructed in 1934, the property has sustained fire damage and is offered in its current condition. It is vacant and requires repair and rehabilitation work before occupancy.
The property is located at 1828 Harvard St, North Las Vegas, NV 89030. Walk Score is 0, classified as Somewhat Walkable; Transit Score is 43, indicating Some Transit. Bike Score is 54, classified as Bikeable. The existing two-unit configuration and documented condition provide the primary physical details for evaluating the property.
The property is located at 1828 Harvard St, North Las Vegas, NV 89030. Walk Score is 0, classified as Somewhat Walkable; Transit Score is 43, indicating Some Transit. Bike Score is 54, classified as Bikeable. The existing two-unit configuration and documented condition provide the primary physical details for evaluating the property.
Key Highlights
- Two‑unit duplex configuration
- Fire damage requiring repair and rehabilitation
- Vacant property offered in its current condition
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
$14,805
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
6.58%
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%
$296,100
$296.1K
Cap Rate 7%
$211,500
$211.5K
Cap Rate 9%
$164,500
$164.5K
Market Conditions
NOI Build-Up for 1,300 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
$22.6K $17.40/SF
− Vacancy
−$1.5K −$1.13/SF
EGI
$21.1K $16.27/SF
− OpEx
−$6.3K −$4.88/SF
NOI
$14.8K $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%
$296,100
Cap Rate 7%
$211,500
Cap Rate 9%
$164,500
Alternative Uses
Best Use
Multifamily LT 5
$211.5K
$185.1K – $246.8K
NOI $14,805 @ 7.0% cap · market cap 6.58%
Second Best
Apartment 5plus
$195.5K
$171.0K – $228.0K
NOI $13,682 @ 7.0% cap · market cap 6.08%
Theoretical Best
Office A
$351.8K
$307.8K – $410.4K
NOI $24,626 @ 7.0% cap · market cap 10.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
585
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
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 - Vacant residential property requiring repairs and rehabilitation.
Where is this duplex located?
The property is located at 1828 Harvard St North Las Vegas, NV.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Two‑unit duplex configuration; Fire damage requiring repair and rehabilitation; Vacant property offered in its current condition
