Duplex With Two 3-Bedroom
For Sale
$385,000
2400 Pardee Place, Las Vegas, NV 89104
Occupied two-unit property with private fenced yards, covered parking, storage, and separate laundry rooms.
Property Size1,786 SF
Days on Market90
Property Features for 2400 Pardee Place
General Information
Standard status
Active
Size
1,786 SF
Property subtype
Duplex
Occupancy
100%
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Additional Details
Average Monthly Rent
$1,437
Taxes and HOA fees
Annual Taxes
$1,145
Amenities
private fenced backyards
covered parking
dedicated storage space
individual laundry rooms
Building Details
Building Size
1,786 SF
Year Built
1954
Buildings
1
Tenancy
Multi
Listing Agency:
Elite Realty
(310) 612-3889
Listed By:
Kenisha L. Hatchett · License #S.0197372
(310) 612-3889
Source:
Usarealty
Added: May 27
Changed: Aug 15
Last Checked: Aug 23 at 9:31AM
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 Elite Realty
Investment Insights
Based on property information with market context.
This duplex, built in 1954, contains two 3-bedroom units that are currently occupied. Each residence includes a private fenced backyard, dedicated storage, and an individual laundry room equipped with a washer and dryer. Covered parking is provided through separate driveways and carports for the units.
The property is located at 2400 Pardee Place in Las Vegas, near downtown, the Strip, shopping, and dining. Interior access is arranged after a serious offer, while the property is available for drive-by review beforehand.
The property is located at 2400 Pardee Place in Las Vegas, near downtown, the Strip, shopping, and dining. Interior access is arranged after a serious offer, while the property is available for drive-by review beforehand.
Key Highlights
- Two 3‑bedroom units, both currently occupied
- Private fenced backyard for each unit
- Separate driveways and covered carports
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
Multi-tenant
Tenancy
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
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Frequently Asked Questions
What type of property is this?
Duplex - Occupied two-unit property with private fenced yards, covered parking, storage, and separate laundry rooms.
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; Private fenced backyard for each unit; Separate driveways and covered carports
