Updated Downtown
For Sale
$399,000
339 10th Street, Las Vegas, NV 89101
Two-unit duplex with remodeled interiors, including new flooring, upgraded kitchens, and tiled walk-in showers.
Property Size1,200 SF
Price / SF$332.50
Days on Market173
Property Features for 339 10th Street
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Duplex
Additional Details
Business Included
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,391
Amenities
3
No Spa
Composition, Shingle
Building Details
Year Built
1946
Stories
1
Tenancy
Multi
Listing Agency:
(702) 536-9000
Listed By:
Faranesh Real Estate
(702) 536-9000
Source:
Xome
Added: Feb 17
Changed: Aug 8
Last Checked: Aug 9 at 5:14AM
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 Faranesh Real Estate
Investment Insights
Based on property information with market context.
Beautifully updated downtown Las Vegas duplex featuring two units. Each unit offers brand new flooring, an upgraded kitchen with recessed lighting and a garden window, and a remodeled bathroom with a tiled walk-in shower and modern vanity. Bright, open living areas with ceiling fans provide comfortable, inviting indoor space.
The property is located just minutes from restaurants, nightlife, shopping, and public transit in downtown Las Vegas.
This turnkey duplex is well-suited for both investors and owner-occupants seeking a move-in-ready residential income property.
The property is located just minutes from restaurants, nightlife, shopping, and public transit in downtown Las Vegas.
This turnkey duplex is well-suited for both investors and owner-occupants seeking a move-in-ready residential income property.
Key Highlights
- Downtown Las Vegas two‑unit duplex with remodeled interiors in both units
- Brand new flooring throughout each unit
- Upgraded kitchens in each unit with recessed lighting and a garden window
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
$13,812
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
3.46%
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%
$276,240
$276.2K
Cap Rate 7%
$197,314
$197.3K
Cap Rate 9%
$153,467
$153.5K
Market Conditions
NOI Build-Up for 1,200 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
$20.9K $17.40/SF
− Vacancy
−$1.1K −$0.96/SF
EGI
$19.7K $16.44/SF
− OpEx
−$5.9K −$4.93/SF
NOI
$13.8K $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%
$276,240
Cap Rate 7%
$197,314
Cap Rate 9%
$153,467
Alternative Uses
Best Use
Multifamily LT 5
$197.3K
$172.7K – $230.2K
NOI $13,812 @ 7.0% cap · market cap 3.46%
Second Best
Apartment 5plus
$182.3K
$159.6K – $212.7K
NOI $12,764 @ 7.0% cap · market cap 3.20%
Theoretical Best
Specialty Retail
$414.7K
$362.8K – $483.8K
NOI $29,026 @ 7.0% cap · market cap 7.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,712
Businesses Nearby
Explore this area
Business Placement
Demographics for 89101, NV
42,465
Population
18,258
Households
2.3
Avg Household Size
35
Median Age
11%
College-Educated
66%
High-School Grad
5.4 sq mi
ZIP Area
7,864
Density / Sq Mi
$38,653
Median Household Income
$29,471
Median Earnings
$1,008
Median Rent
$258,100
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 - Two-unit duplex with remodeled interiors, including new flooring, upgraded kitchens, and tiled walk-in showers.
Where is this duplex located?
The property is located at 339 10th Street Las Vegas, NV.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Downtown Las Vegas two‑unit duplex with remodeled interiors in both units; Brand new flooring throughout each unit; Upgraded kitchens in each unit with recessed lighting and a garden window
