Occupied Duplex with Private
For Sale
$385,000
2400 Pardee Place, Las Vegas, NV 89104
Residential, Las Vegas, NV
Property Size1,786 SF
Lot Size0.16 Acres
Price / SF$215.57
Days on Market97
Property Features for 2400 Pardee Place
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Window features
Blinds
Interior features
Ceiling Fan(s), Window Treatments
Appliances
Dryer, Exhaust Fan, Oven, Range, Range Hood, Washer
Subdivision
Francisco Park
Elementary school
,
Directions
From Eastern & Sahara, head south on Eastern, turn left on St. Louis Ave, then right on Pardee Place. Property is located on the right. Please do not disturb tenants.
Standard status
Active
APN
162-02-410-114
Size
1,786 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
1145
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Central
Cooling system
Central Air
Water source
Public
Amenities
private fenced backyards
covered parking
dedicated storage space
individual laundry rooms
Building Details
Year built
1954
Floors in Building
1
Number of units
2
Flooring type
Carpet, Tile - Ceramic, Vinyl
Building materials
Block
Roof type
Flat
Architectural style
Other
Listing Agency:
Elite Realty
(702) 228-7227
Listed By:
Kenisha L. Hatchett · License #S.0197372
(310) 612-3889
Added: May 27
Changed: Aug 20
Last Checked: Aug 31 at 6:06AM
MLS# 2786120
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 duplex contains two 3-bedroom residences within 1,786 square feet on a 0.16-acre lot. Both units are occupied and include private fenced backyards, covered parking, separate driveways or carports, dedicated storage, and individual laundry rooms equipped with washers and dryers. The building was constructed in 1954 and features block construction, a flat roof, central heating and cooling, public water, and public sewer.
The property is in Las Vegas near downtown, the Strip, shopping, and dining. Interior access is arranged after a serious offer, while current marketing is limited to drive-by viewing in consideration of the tenants. Each residence provides a separate living arrangement with its own outdoor space and support areas.
The property is in Las Vegas near downtown, the Strip, shopping, and dining. Interior access is arranged after a serious offer, while current marketing is limited to drive-by viewing in consideration of the tenants. Each residence provides a separate living arrangement with its own outdoor space and support areas.
Key Highlights
- Two 3‑bedroom units, both currently occupied
- 1,786 square feet on a 0.16‑acre lot
- Private fenced backyards for 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
$20,557
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
5.34%
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%
$411,140
$411.1K
Cap Rate 7%
$293,671
$293.7K
Cap Rate 9%
$228,411
$228.4K
Market Conditions
NOI Build-Up for 1,786 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
$31.1K $17.40/SF
− Vacancy
−$1.7K −$0.96/SF
EGI
$29.4K $16.44/SF
− OpEx
−$8.8K −$4.93/SF
NOI
$20.6K $11.51/SF
Area
Las Vegas, NV
Vacancy
5.50%
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%
$411,140
Cap Rate 7%
$293,671
Cap Rate 9%
$228,411
Alternative Uses
Best Use
Multifamily LT 5
$293.7K
$257.0K – $342.6K
NOI $20,557 @ 7.0% cap · market cap 5.34%
Second Best
Apartment 5plus
$271.4K
$237.5K – $316.6K
NOI $18,997 @ 7.0% cap · market cap 4.93%
Theoretical Best
Specialty Retail
$617.1K
$540.0K – $720.0K
NOI $43,200 @ 7.0% cap · market cap 11.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,054
Businesses Nearby
Explore this area
Business Placement
Demographics for 89104, NV
41,662
Population
16,704
Households
2.5
Avg Household Size
38
Median Age
15%
College-Educated
72%
High-School Grad
5.7 sq mi
ZIP Area
7,309
Density / Sq Mi
$50,945
Median Household Income
$34,278
Median Earnings
$1,138
Median Rent
$298,700
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?
Duplex - Separate driveways, covered parking, storage, and individual laundry facilities support practical operation for each residence.
Where is this duplex located?
The property is located at 2400 Pardee Place Las Vegas, NV.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Two 3‑bedroom units, both currently occupied; 1,786 square feet on a 0.16‑acre lot; Private fenced backyards for each unit
