Two-Bedroom Residential Income
For Sale
Contact for pricing
3709 SNORKEL CIR, Las Vegas, NV 89108
Condominium beside the community pool, mailboxes, and a landscaped greenbelt area.
Property Size912 SF
Price / SF$153.51
Days on Market65
Property Features for 3709 SNORKEL CIR
General Information
Standard status
Active
Size
912 SF
Property subtype
Multifamily
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Amenities
pool
greenbelt
Building Details
Year Built
1984
Buildings
1
Stories
1
Units
1
Listing Agency:
Simply Vegas
Listed By:
Catherine Hyde · License #0070366
(702) 408-2289
Source:
Crexi
Added: Jun 30
Changed: Aug 29
Last Checked: Aug 31 at 6:32AM
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 Simply Vegas
Investment Insights
Based on property information with market context.
Located at 3709 Snorkel Cir in Las Vegas, this 912-square-foot condominium contains two bedrooms and two full bathrooms. Built in 1984, the residence offers a practical layout with separate living areas suited to everyday residential use.
The unit is positioned across from the community pool and mailboxes, with a greenbelt immediately outside the front entry. These shared-area features provide convenient access to outdoor space and community amenities.
The unit is positioned across from the community pool and mailboxes, with a greenbelt immediately outside the front entry. These shared-area features provide convenient access to outdoor space and community amenities.
Key Highlights
- Two‑bedroom, two‑bath condominium
- 912 SF residential unit
- Built in 1984
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
$10,750
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
7.68%
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%
$215,000
$215.0K
Cap Rate 7%
$153,571
$153.6K
Cap Rate 9%
$119,444
$119.4K
Market Conditions
NOI Build-Up for 912 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
$20.6K $22.56/SF
− Vacancy
−$1.0K −$1.13/SF
EGI
$19.5K $21.43/SF
− OpEx
−$8.8K −$9.64/SF
NOI
$10.8K $11.79/SF
Area
ZIP 89108
Vacancy
5.00%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
45.00%
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%
$215,000
Cap Rate 7%
$153,571
Cap Rate 9%
$119,444
Alternative Uses
Best Use
Apartment 5plus
$153.6K
$134.4K – $179.2K
NOI $10,750 @ 7.0% cap · market cap 7.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$308.7K
$270.1K – $360.1K
NOI $21,606 @ 7.0% cap · market cap 15.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
568
Businesses Nearby
Explore this area
Business Placement
Demographics for 89108, NV
73,637
Population
28,377
Households
2.6
Avg Household Size
35
Median Age
15%
College-Educated
80%
High-School Grad
8.9 sq mi
ZIP Area
8,274
Density / Sq Mi
$57,403
Median Household Income
$36,383
Median Earnings
$1,431
Median Rent
$304,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium beside the community pool, mailboxes, and a landscaped greenbelt area.
Where is this residential income property located?
The property is located at 3709 SNORKEL CIR Las Vegas, NV.
What is the asking price?
The asking price for this property is $140,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath condominium; 912 SF residential unit; Built in 1984
