Two-Unit
For Sale
$240,000
612 West McWilliams Avenue, Las Vegas, NV 89106
Includes a three-bedroom residence and a studio, each with one bathroom.
Property Size1,704 SF
Days on Market39
Property Features for 612 West McWilliams Avenue
General Information
Standard status
Active
Size
1,704 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$690
Building Details
Building Size
1,704 SF
Year Built
1951
Buildings
1
Tenancy
Multi
Listing Agency:
Realty ONE Group, Inc
(702) 338-1155
Listed By:
Kimbly Bolden · License #S.0177883
(702) 338-1155
Source:
Vicerealtygroup
Added: Jul 2
Changed: Aug 3
Last Checked: Aug 9 at 11:16AM
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 Realty ONE Group, Inc
Investment Insights
Based on property information with market context.
This duplex at 612 West McWilliams Avenue in Las Vegas, Nevada, contains two separate residential units. The larger unit offers 3 bedrooms and 1 bathroom across 1,248 square feet, while the second is a 456-square-foot studio with 1 bathroom. The property was built in 1951.
The property is approximately 5 minutes from Downtown Las Vegas and the Las Vegas Strip. Its surrounding context includes nightclubs, restaurants, high-rise buildings, and other amenities. The two-unit configuration provides separate living spaces within a single residential income property.
The property is approximately 5 minutes from Downtown Las Vegas and the Las Vegas Strip. Its surrounding context includes nightclubs, restaurants, high-rise buildings, and other amenities. The two-unit configuration provides separate living spaces within a single residential income property.
Key Highlights
- Two‑unit duplex at 612 West McWilliams Avenue, Las Vegas, NV 89106
- 3‑bedroom/1‑bath unit measuring 1,248 sq ft
- Studio/1‑bath unit measuring 456 sq ft
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
$19,613
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
8.17%
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%
$392,260
$392.3K
Cap Rate 7%
$280,186
$280.2K
Cap Rate 9%
$217,922
$217.9K
Market Conditions
NOI Build-Up for 1,704 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
$29.6K $17.40/SF
− Vacancy
−$1.6K −$0.96/SF
EGI
$28.0K $16.44/SF
− OpEx
−$8.4K −$4.93/SF
NOI
$19.6K $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%
$392,260
Cap Rate 7%
$280,186
Cap Rate 9%
$217,922
Alternative Uses
Best Use
Multifamily LT 5
$280.2K
$245.2K – $326.9K
NOI $19,613 @ 7.0% cap · market cap 8.17%
Second Best
Apartment 5plus
$258.9K
$226.6K – $302.1K
NOI $18,125 @ 7.0% cap · market cap 7.55%
Theoretical Best
Specialty Retail
$588.8K
$515.2K – $686.9K
NOI $41,216 @ 7.0% cap · market cap 17.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,021
Businesses Nearby
Explore this area
Business Placement
Demographics for 89106, NV
27,695
Population
10,906
Households
2.5
Avg Household Size
33
Median Age
11%
College-Educated
73%
High-School Grad
5.1 sq mi
ZIP Area
5,430
Density / Sq Mi
$38,848
Median Household Income
$31,265
Median Earnings
$1,169
Median Rent
$263,100
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 - Includes a three-bedroom residence and a studio, each with one bathroom.
Where is this duplex located?
The property is located at 612 West McWilliams Avenue Las Vegas, NV.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Two‑unit duplex at 612 West McWilliams Avenue, Las Vegas, NV 89106; 3‑bedroom/1‑bath unit measuring 1,248 sq ft; Studio/1‑bath unit measuring 456 sq ft
