Duplex with Two Separate
For Sale
$380,000
48 N 28th Street, Las Vegas, NV 89101
MULTI_FAMILY - Other - Las Vegas, NV
Property Size1,436 SF
Lot Size0.16 Acres
Price / SF$264.62
Days on Market94
Property Features for 48 N 28th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Covered
Window features
Blinds
Interior features
Ceiling Fan(s), Storage, Window Treatments
Appliances
Oven, Range, Refrigerator
Subdivision
Sunrise Acres
Elementary school
,
Directions
Head W on Charleston from the 95, turn N on 28th St, property will be on the left.
Standard status
Active
APN
139-36-411-073
Size
1,436 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
706
Utilities
Sewer type
Public Sewer
Heating system
Zoned, Electric (Heating)
Cooling system
Window Unit(s)
Water source
Well, Private
Building Details
Year built
1948
Floors in Building
1
Number of units
2
Flooring type
Carpet, Tile - Ceramic
Building materials
Block, Stucco
Roof type
Composition, Shingle
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Fathom Realty
(888) 455-6040
Listed By:
Jesus E. Moreno · License #S.0187687
(702) 845-5922
Added: May 11
Changed: Aug 3
Last Checked: Aug 12 at 3:06AM
MLS# 2781835
Copyright © 2026 Las Vegas REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex provides two separate units, offering a flexible setup for rental use or owner occupancy. Unit 1 is a 1-bedroom, 1-bath layout, while Unit 2 offers 3 bedrooms and 1 bathroom. The home includes ceiling fans, storage, and window treatments, along with appliances such as an oven, range, and refrigerator. Heating is zoned with electric heating, and cooling is provided by window unit(s). Parking is covered, and the property is built with block and stucco construction.
The property sits on a 0.16-acre lot and includes a newer roof described as approximately 2 years old, with composition and shingle roofing. Water is from well and private sources, and sewer service is public sewer.
Built in 1948, the duplex is serviced by electric heating and provides ceramic tile and carpet flooring. Additional exterior and utility details are provided through the stated construction materials, roof type, and parking features.
The property sits on a 0.16-acre lot and includes a newer roof described as approximately 2 years old, with composition and shingle roofing. Water is from well and private sources, and sewer service is public sewer.
Built in 1948, the duplex is serviced by electric heating and provides ceramic tile and carpet flooring. Additional exterior and utility details are provided through the stated construction materials, roof type, and parking features.
Key Highlights
- Duplex with two separate units: Unit 1 (1 bed, 1 bath) and Unit 2 (3 beds, 1 bath)
- Roof described as newer, approximately 2 years old; composition and shingle roofing
- 0.16‑acre lot
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
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
737
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 - Duplex on a 0.16-acre lot with two separate units, including covered parking and a composition shingle roof.
Where is this duplex located?
The property is located at 48 N 28th Street 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: Duplex with two separate units: Unit 1 (1 bed, 1 bath) and Unit 2 (3 beds, 1 bath); Roof described as newer, approximately 2 years old; composition and shingle roofing; 0.16‑acre lot
