Real Estate Investing in Las Vegas, Nevada (89004)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 89004 (Las Vegas, NV)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 31.9% of homes vacant — above national norms.
- Higher unemployment: 10.1% unemployment — tenant risk signal.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Las Vegas, NV (89004)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 89004 Las Vegas
Not every below-median market is a bargain. Las Vegas's 89004 ZIP clocks in at signals that favor experienced operators who can absorb the risk $687K pricing implies.
Rent of $2,340/mo on a $687K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 89004 sits below the stated 0.0% once reality is priced in.
ZIP 89004's metrics run below Clark County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
The 89004 ZIP's population of 270 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that stands at the need for careful underwriting.
Strategy in 89004 is an operator game, not a passive one. On the rental side, entry prices of $687K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Las Vegas:
Market Trends
Home Value History (with trend line)
📊 How Does 89004 Compare?
| Metric | 89004 | Las Vegas | Las Vegas-Henderson-Paradise, NV | Nevada |
|---|---|---|---|---|
| Home Value | $686,686 | $448,661 | N/A | $444,019 |
| 5-Year CAGR | 5.1% | 4.3% | N/A | 6.8% |
| Avg Rent | $2,340 | $1,858 | N/A | - |
| Cap Rate | 2.7% | 3.3% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 89004 (Las Vegas, NV). Anonymous, moderated, never written by AI.
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Property managers serving Clark County
Manage rentals here? List your business →Elite HOA Management, Inc. helps communities meet their goals and improve their bottom line with responsive 24-hour access and experienced staff in Las Vegas, NV. summary from their website
Golden Assets & Property Management LLC offers residential and commercial rental property management in the Las Vegas Valley, including single-family homes, fourplexes, and condominiums. summary from their website
Las Vegas Valley Community Management provides community management services. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $686,686 |
| Monthly Rent | $2,340 |
| Price-to-Rent | 24.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.1% |
| Cap Rate | 2.7% |
| 5-Year IRR | 7.8% |
📈 Home Appreciation
| 1-Year | +2.9% ▲ |
| 3-Year CAGR | +4.5% ▲ |
| 5-Year CAGR | +5.1% ▲ |
| 10-Year CAGR | +8.3% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.7%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 89004
Population: 270
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 89004
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
How strong is the working-renter base in Las Vegas, NV?
The renter base in Las Vegas, NV is reasonable for the $2,340/mo price point. Screening well and pricing to market typically yields even-keeled tenants.
Is real estate in Las Vegas, NV a good investment right now?
Las Vegas, NV scores 3.0/5 for investability. Home values sit at $687K and rents near $2,340/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
What is the median home value in Las Vegas, NV?
Typical homes in Las Vegas, NV go for around $687K. The 5-year CAGR of 0.0% predictable price movement.
Is Las Vegas, NV a friendly market for rental owners?
For rental operators, Las Vegas, NV rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
What is the typical vacancy rate in Las Vegas, NV?
Las Vegas, NV vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
You know 89004 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 89004 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 89004 ranks in Las Vegas-Henderson-Paradise, NV
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