Well-Maintained Fourplex in Gated
For Sale
$595,000
1830 Dwarf Star Drive, Las Vegas, NV 89115
Fourplex built in 1988 with four 2BR/1BA units, each featuring an open floor plan and in-unit laundry.
Property Size3,212 SF
Days on Market73
Property Features for 1830 Dwarf Star Drive
General Information
Standard status
Active
Size
3,212 SF
Property subtype
Multi Family Home
Lease Term
Monthly
Taxes and HOA fees
Annual Taxes
$2,086
Building Details
Building Size
3,212 SF
Year Built
1987
Buildings
1
Stories
2
Units
4
Listing Agency:
Rothwell Gornt Companies
(702) 217-1048
Listed By:
Ryan Crighton · License #BS.0000254
(702) 217-1048
Source:
Landandmore
Added: Jun 1
Changed: Aug 7
Last Checked: Aug 11 at 2:47PM
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 Rothwell Gornt Companies
Investment Insights
Based on property information with market context.
This well-maintained fourplex was built in 1988 and features a Cape Cod design. The property consists of four units, and each unit includes 2 bedrooms and 1 bathroom with an open floor plan. Floors are finished with tile and vinyl, and separate laundry is provided within each unit.
Lake Mead Villas is described as a secure, planned community with mature landscaping, a playground, and a pool. The HOA includes sewer, trash, community landscaping, exterior building maintenance, and roof repair. The property is reported to be located close to schools and shopping, with tree-lined streets for curb appeal.
Please note the offering instructions: make offer subject to inspection, and do not disturb tenants.
Lake Mead Villas is described as a secure, planned community with mature landscaping, a playground, and a pool. The HOA includes sewer, trash, community landscaping, exterior building maintenance, and roof repair. The property is reported to be located close to schools and shopping, with tree-lined streets for curb appeal.
Please note the offering instructions: make offer subject to inspection, and do not disturb tenants.
Key Highlights
- Fourplex built in 1987 with four 2BR/1BA units
- All units have an open floor plan with tile and vinyl flooring
- Separate laundry in each unit
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
$34,530
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
5.80%
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%
$690,600
$690.6K
Cap Rate 7%
$493,286
$493.3K
Cap Rate 9%
$383,667
$383.7K
Market Conditions
NOI Build-Up for 3,212 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
$52.0K $16.20/SF
− Vacancy
−$2.7K −$0.84/SF
EGI
$49.3K $15.36/SF
− OpEx
−$14.8K −$4.61/SF
NOI
$34.5K $10.75/SF
Area
ZIP 89115
Vacancy
5.20%
Lease Rate
$16.20 /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%
$690,600
Cap Rate 7%
$493,286
Cap Rate 9%
$383,667
Alternative Uses
Best Use
Multifamily LT 5
$493.3K
$431.6K – $575.5K
NOI $34,530 @ 7.0% cap · market cap 5.80%
Second Best
Apartment 5plus
$455.5K
$398.6K – $531.5K
NOI $31,887 @ 7.0% cap · market cap 5.36%
Theoretical Best
Office A
$960.3K
$840.3K – $1.12M
NOI $67,221 @ 7.0% cap · market cap 11.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
451
Businesses Nearby
Explore this area
Business Placement
Demographics for 89115, NV
67,043
Population
21,670
Households
3.1
Avg Household Size
29
Median Age
9%
College-Educated
70%
High-School Grad
24.9 sq mi
ZIP Area
2,692
Density / Sq Mi
$49,648
Median Household Income
$32,198
Median Earnings
$1,294
Median Rent
$258,900
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?
Quadplex - Fourplex built in 1988 with four 2BR/1BA units, each featuring an open floor plan and in-unit laundry.
Where is this quadplex located?
The property is located at 1830 Dwarf Star Drive Las Vegas, NV.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Fourplex built in 1987 with four 2BR/1BA units; All units have an open floor plan with tile and vinyl flooring; Separate laundry in each unit
