Remodeled Residential Income
For Sale
Contact for pricing
3769 Carlyle Drive, Las Vegas, NV 89115
First-floor corner condominium with updated finishes and community recreation amenities.
Property Size957 SF
Price / SF$146.28
Days on Market10
Property Features for 3769 Carlyle Drive
General Information
Standard status
Active
Size
957 SF
Class
B
Property subtype
Multifamily
Building Details
Year Built
1983
Year Renovated
2025
Units
1
Listing Agency:
Simply Vegas
Listed By:
Catherine Hyde · License #0070366
(702) 408-2289
Source:
Crexi
Added: Aug 26
Changed: Aug 31
Last Checked: Aug 31 at 9:07AM
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.
This first-floor corner condominium includes 2 bedrooms and 1 bathroom within a fully remodeled interior. Improvements include fresh paint, laminate flooring, a quartz countertop, dishwasher, and stove. The unit was built in 1983 and offers a low-maintenance ownership profile for investors or owner-occupants.
Community amenities include a swimming pool, tennis courts, and designated dog areas. HOA coverage includes water, trash, and sewer. The property is near Walnut Recreation Center and Park, Alcelero Learning, Las Vegas Metropolitan Police Department, Cheyenne Sports Complex, and College of Southern Nevada. The condominium is located at 3769 Carlyle Drive in Las Vegas, Nevada 89115.
Community amenities include a swimming pool, tennis courts, and designated dog areas. HOA coverage includes water, trash, and sewer. The property is near Walnut Recreation Center and Park, Alcelero Learning, Las Vegas Metropolitan Police Department, Cheyenne Sports Complex, and College of Southern Nevada. The condominium is located at 3769 Carlyle Drive in Las Vegas, Nevada 89115.
Key Highlights
- 2‑bedroom, 1‑bathroom first‑floor corner condominium
- Fully remodeled interior with laminate flooring and fresh paint
- Quartz countertop plus new dishwasher and stove
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
$9,501
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
6.79%
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%
$190,020
$190.0K
Cap Rate 7%
$135,729
$135.7K
Cap Rate 9%
$105,567
$105.6K
Market Conditions
NOI Build-Up for 957 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
$18.1K $18.96/SF
− Vacancy
−$871 −$0.91/SF
EGI
$17.3K $18.05/SF
− OpEx
−$7.8K −$8.12/SF
NOI
$9.5K $9.93/SF
Area
ZIP 89115
Vacancy
4.80%
Lease Rate
$18.96 /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%
$190,020
Cap Rate 7%
$135,729
Cap Rate 9%
$105,567
Alternative Uses
Best Use
Apartment 5plus
$135.7K
$118.8K – $158.4K
NOI $9,501 @ 7.0% cap · market cap 6.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$286.1K
$250.4K – $333.8K
NOI $20,028 @ 7.0% cap · market cap 14.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
537
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - First-floor corner condominium with updated finishes and community recreation amenities.
Where is this residential income property located?
The property is located at 3769 Carlyle Drive Las Vegas, NV.
What is the asking price?
The asking price for this property is $139,990.
What are key features of this property?
This property features: 2‑bedroom, 1‑bathroom first‑floor corner condominium; Fully remodeled interior with laminate flooring and fresh paint; Quartz countertop plus new dishwasher and stove
