Duplex with Recent
For Sale
$380,000
48 N 28th St, Las Vegas, NV 89101
Two separate units offer a one-bedroom and three-bedroom configuration.
Property Size1,436 SF
Price / SF$264.62
Days on Market221
Property Features for 48 N 28th St
General Information
Standard status
Active
Size
1,436 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 1BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1948
Listing Agency:
Fathom Realty
(702) 845-5922
Listed By:
Jesus E. Moreno (702) 845-5922 · License #S.0187687
Source:
Thevegashomesource
Added: Jan 22
Changed: Aug 31
Last Checked: Aug 30 at 6:10PM
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 Fathom Realty
Investment Insights
Based on property information with market context.
This duplex contains 1,436 square feet and is arranged as two separate residences. The unit mix includes one one-bedroom, one-bathroom unit and one three-bedroom, one-bathroom unit. Built in 1948, the property has a newer roof installed approximately 2 years ago.
The property is near shopping, dining, schools, Downtown Las Vegas, and major freeway access. Its two-unit configuration supports rental use and provides flexibility for an owner seeking a residence alongside an additional unit.
The property is near shopping, dining, schools, Downtown Las Vegas, and major freeway access. Its two-unit configuration supports rental use and provides flexibility for an owner seeking a residence alongside an additional unit.
Key Highlights
- Two‑unit duplex with 1,436 square feet
- Unit 1: 1 bedroom and 1 bathroom
- Unit 2: 3 bedrooms and 1 bathroom
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
$16,529
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
4.35%
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%
$330,580
$330.6K
Cap Rate 7%
$236,129
$236.1K
Cap Rate 9%
$183,656
$183.7K
Market Conditions
NOI Build-Up for 1,436 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
$25.0K $17.40/SF
− Vacancy
−$1.4K −$0.96/SF
EGI
$23.6K $16.44/SF
− OpEx
−$7.1K −$4.93/SF
NOI
$16.5K $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%
$330,580
Cap Rate 7%
$236,129
Cap Rate 9%
$183,656
Alternative Uses
Best Use
Multifamily LT 5
$236.1K
$206.6K – $275.5K
NOI $16,529 @ 7.0% cap · market cap 4.35%
Second Best
Apartment 5plus
$218.2K
$190.9K – $254.6K
NOI $15,274 @ 7.0% cap · market cap 4.02%
Theoretical Best
Specialty Retail
$496.2K
$434.2K – $578.9K
NOI $34,734 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,240
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two separate units offer a one-bedroom and three-bedroom configuration.
Where is this duplex located?
The property is located at 48 N 28th St Las Vegas, NV.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,436 square feet; Unit 1: 1 bedroom and 1 bathroom; Unit 2: 3 bedrooms and 1 bathroom
