Real Estate Investing in Las Vegas, Nevada (89104)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 89104 (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.
- Elevated vacancy: 11.7% vacancy may signal weakening demand.
What’s happening in Las Vegas, NV (89104)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 89104 Las Vegas
The 89104 ZIP covers a section of Las Vegas that demands careful diligence. Prices near $363K look accessible, but the work to make a deal cash flow is real.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 89104 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Nearby ZIPs in Las Vegas have seen price recovery that 89104 has not matched. Clark County data supports the view that the spread is structural rather than temporary.
Meanwhile, 39,883 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Strategically, 89104 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Las Vegas:
Property Strategy for 89104
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $264,138 | $1,580 | 4.3% | +7.4% | $132,069 |
| 3BR | $359,133 | $2,210 | 4.4% | +8.0% | $119,711 |
| 4BR | $385,441 | $2,560 | 4.8% | +7.7% | $96,360 |
| 5BR | $432,935 | — | — | +7.8% | $86,587 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 89104 Compare?
| Metric | 89104 | Las Vegas | Las Vegas-Henderson-Paradise, NV | Nevada |
|---|---|---|---|---|
| Home Value | $363,486 | $448,661 | N/A | $444,019 |
| 5-Year CAGR | 4.7% | 4.3% | N/A | 6.8% |
| Avg Rent | $1,362 | $1,858 | N/A | - |
| Cap Rate | 2.9% | 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 89104 (Las Vegas, NV). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 89104 (Las Vegas, NV)?
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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 | $363,486 |
| Monthly Rent | $1,362 |
| Price-to-Rent | 22.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.5% |
| Cap Rate | 2.9% |
| 5-Year IRR | 7.6% |
📈 Home Appreciation
| 1-Year | +0.0% ▲ |
| 3-Year CAGR | +2.9% ▲ |
| 5-Year CAGR | +4.7% ▲ |
| 10-Year CAGR | +9.2% ▲ |
🏠 Rent Trends
| 1-Year | -5.5% ▼ |
| 3-Year CAGR | -0.2% ▼ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.9%). 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 89104
Population: 39,883
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 89104
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
Investor Insight: With 3,824 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Should investors consider Las Vegas, NV?
Our data puts Las Vegas, NV at 3.0/5 for investability. Home prices of $363K and rents around $1,362/mo create a solid backdrop for investor activity.
What is the median home value in Las Vegas, NV?
The median home value in Las Vegas, NV is roughly $363K. That puts it reasonable relative to the NV statewide average.
How strong are rents in Las Vegas, NV?
Las Vegas, NV rentals go for roughly $1,362/mo a month. That puts gross yield in solid territory relative to $363K acquisition costs.
Does house hacking work in Las Vegas, NV?
The house hack math a challenging in Las Vegas, NV. Owner-occupant buyers benefit from the $1,362/mo rents and $363K home values.
How tight is the rental market in Las Vegas, NV?
Occupancy in Las Vegas, NV runs predictable with elevated vacancy. Well-priced units at $1,362/mo lease on reasonable timelines.
You know 89104 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 89104 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 89104 ranks in Las Vegas-Henderson-Paradise, NV
Every ZIP in this metro, ranked. Free.
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