New 4-Plex Residential
For Sale
$740,000
Pending
1861 Five Feathers Street, Pahrump, NV 89048
Residential, Pahrump, NV
Property Size4,388 SF
Lot Size0.36 Acres
Days on Market126
Property Features for 1861 Five Feathers Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Window features
Blinds
Interior features
Ceiling Fan(s), Window Treatments
Appliances
Dishwasher, Microwave, Oven, Range, Refrigerator
Subdivision
Calvada Valley U6
Elementary school
,
Directions
From Hwy 160, turn Left on Calvada, Right on Dandelion, Right on Haiwee St, Left on Pocahontas; Right on 5 Feathers.
Standard status
Pending
APN
38-512-07
Size
4,388 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Annual Amount
120
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
2026
Floors in Building
1
Number of units
4
Flooring type
Vinyl
Building materials
Block, Stucco
Roof type
Tile
Architectural style
Other
Listing Agency:
Realty ONE Group, Inc
(702) 898-1010
Listed By:
Jill Amsel · License #BS.0063646
(702) 683-6563
Added: Apr 21
Changed: Aug 19
Last Checked: Aug 24 at 5:06PM
MLS# 2775255
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.
Brand-new 4-plex under construction offering four residential units. Each unit includes three bedrooms and two bathrooms and is approximately 1,097 square feet. Interiors are planned with custom cabinets and quartz counters, plus stainless steel appliances including an electric stove, microwave, refrigerator, and dishwasher, along with a separate laundry area. Flooring includes luxury vinyl plank throughout with carpeted bedrooms, and each unit is equipped with ceiling fans in the living room and bedrooms.
Construction materials include block and stucco, with tile roofing. Heating is central electric and cooling is central air. The property is served by public water and public sewer.
A warranty package is included: full 1-year bumper-to-bumper coverage, 2 years for major systems, and 6 years for structural items.
Construction materials include block and stucco, with tile roofing. Heating is central electric and cooling is central air. The property is served by public water and public sewer.
A warranty package is included: full 1-year bumper-to-bumper coverage, 2 years for major systems, and 6 years for structural items.
Key Highlights
- 0.356‑acre lot with brand‑new 4‑plex under construction
- Each unit offers 3 bedrooms and 2 bathrooms
- Each unit is about 1,097 square feet
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
$38,998
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
5.27%
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%
$779,960
$780.0K
Cap Rate 7%
$557,114
$557.1K
Cap Rate 9%
$433,311
$433.3K
Market Conditions
NOI Build-Up for 4,388 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
$59.5K $13.56/SF
− Vacancy
−$3.8K −$0.86/SF
EGI
$55.7K $12.70/SF
− OpEx
−$16.7K −$3.81/SF
NOI
$39.0K $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%
$779,960
Cap Rate 7%
$557,114
Cap Rate 9%
$433,311
Alternative Uses
Best Use
Multifamily LT 5
$557.1K
$487.5K – $650.0K
NOI $38,998 @ 7.0% cap · market cap 5.27%
Second Best
Apartment 5plus
$513.3K
$449.2K – $598.9K
NOI $35,933 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$1.39M
$1.22M – $1.63M
NOI $97,604 @ 7.0% cap · market cap 13.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
747
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Brand-new 4-plex with three-bedroom, two-bath units featuring custom cabinetry, quartz counters, and stainless appliances.
Where is this quadplex located?
The property is located at 1861 Five Feathers Street Pahrump, NV.
What is the asking price?
The asking price for this property is $740,000.
What are key features of this property?
This property features: 0.356‑acre lot with brand‑new 4‑plex under construction; Each unit offers 3 bedrooms and 2 bathrooms; Each unit is about 1,097 square feet
