Cape Cod
For Sale
$555,000
1872 Cosmic Drive, Las Vegas, NV 89115
Residential, Las Vegas, NV
Property Size3,212 SF
Lot Size0.16 Acres
Price / SF$172.79
Days on Market48
Property Features for 1872 Cosmic Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Window features
Blinds
Interior features
Ceiling Fan(s), Window Treatments
Appliances
Dryer, Dishwasher, Disposal, Refrigerator, Washer
Subdivision
Lake Mead Villas
Elementary school
,
Directions
W on Lake Mead from Lamb, S on Dwarf Star
Standard status
Active
APN
140-19-712-013
Size
3,212 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
2670
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
pool
spa
fireplace
Building Details
Year built
1986
Floors in Building
2
Number of units
4
Flooring type
Tile, Vinyl
Building materials
Wood Frame
Architectural style
Other
Listing Agency:
Rothwell Gornt Companies
(702) 932-8813
Listed By:
Ryan Crighton · License #BS.0000254
(702) 217-1048
Added: Jul 9
Changed: Aug 19
Last Checked: Aug 25 at 6:06AM
MLS# 2798939
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 3,212-square-foot quadplex contains four 2-bedroom, 1-bath residences in a Cape Cod-style building completed in 1986. Each unit includes a large living room with fireplace, a dining area adjoining the kitchen, and a private laundry room. Refrigerators, washers, dryers, and dishwashers are included. Interior finishes include tile and vinyl flooring, with central electric heating and central air conditioning. The property is served by public water and public sewer and features wood-frame construction.
The property is part of Lake Mead Villas, a planned community with mature landscaping, a pool, and a spa. Its Northeast Las Vegas location places it near Nellis AFB, schools, and public transit. HOA coverage includes trash, sewer, exterior maintenance, roofing, landscaping, common utilities, and pool and spa access.
The property is part of Lake Mead Villas, a planned community with mature landscaping, a pool, and a spa. Its Northeast Las Vegas location places it near Nellis AFB, schools, and public transit. HOA coverage includes trash, sewer, exterior maintenance, roofing, landscaping, common utilities, and pool and spa access.
Key Highlights
- 3,212 SF quadplex with four 2‑bedroom, 1‑bath units
- Built in 1986 with Cape Cod design and wood‑frame construction
- Each unit includes a fireplace, dining area, private laundry room, refrigerator, washer, dryer, and dishwasher
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
6.22%
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 6.22%
Second Best
Apartment 5plus
$455.5K
$398.6K – $531.5K
NOI $31,887 @ 7.0% cap · market cap 5.75%
Theoretical Best
Office A
$960.3K
$840.3K – $1.12M
NOI $67,221 @ 7.0% cap · market cap 12.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
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 - Four residential units in a maintained community with pool, spa, mature landscaping, and access to public transit.
Where is this quadplex located?
The property is located at 1872 Cosmic Drive Las Vegas, NV.
What is the asking price?
The asking price for this property is $555,000.
What are key features of this property?
This property features: 3,212 SF quadplex with four 2‑bedroom, 1‑bath units; Built in 1986 with Cape Cod design and wood‑frame construction; Each unit includes a fireplace, dining area, private laundry room, refrigerator, washer, dryer, and dishwasher
