Real Estate Investing in Las Vegas, Nevada (89138)
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Should you buy in 89138 (Las Vegas, NV)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Las Vegas, NV (89138)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 89138 Las Vegas
The 89138 ZIP covers a section of Las Vegas that demands careful diligence. Prices near $766K 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 89138 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Regionally, 89138 sits on the difficult end of the NV spectrum. The a viable market for read — for disciplined operators — is that pricing reflects the difficulty.
Employment concentration in 89138 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
appears to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Las Vegas:
Property Strategy for 89138
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $525,797 | $2,600 | 3.6% | +9.0% | $262,899 |
| 3BR | $655,186 | $3,620 | 4.0% | +8.2% | $218,395 |
| 4BR | $927,832 | $4,140 | 3.2% | +9.9% | $231,958 |
| 5BR | $1,189,561 | — | — | +10.8% | $237,912 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 89138 Compare?
| Metric | 89138 | Las Vegas | Las Vegas-Henderson-Paradise, NV | Nevada |
|---|---|---|---|---|
| Home Value | $766,102 | $448,661 | N/A | $444,019 |
| 5-Year CAGR | 4.7% | 4.3% | N/A | 6.8% |
| Avg Rent | $2,930 | $1,858 | N/A | - |
| Cap Rate | 3.0% | 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 89138 (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 | $766,102 |
| Monthly Rent | $2,930 |
| Price-to-Rent | 21.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.6% |
| Cap Rate | 3.0% |
| 5-Year IRR | 7.7% |
📈 Home Appreciation
| 1-Year | -2.4% ▼ |
| 3-Year CAGR | +2.9% ▲ |
| 5-Year CAGR | +4.7% ▲ |
| 10-Year CAGR | +6.4% ▲ |
🏠 Rent Trends
| 1-Year | +4.0% ▲ |
| 3-Year CAGR | +2.7% ▲ |
| 5-Year CAGR | +3.0% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.0%). 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 89138
Population: 23,650
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 89138
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 7,008 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What are home prices like in Las Vegas, NV?
Expect median prices around $766K in Las Vegas, NV. The market has run at a 0.0% 5-year CAGR, so entry costs have been measured.
What kind of tenants rent in Las Vegas, NV?
The tenant pool in Las Vegas, NV is solid, supported by local employment and population fundamentals. Rents of $2,930/mo are well-absorbed by the market.
What strategy should investors use in Las Vegas, NV?
For Las Vegas, NV, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
Does house hacking make sense in Las Vegas, NV?
The house hack math a challenging in Las Vegas, NV. Owner-occupant buyers benefit from the $2,930/mo rents and $766K home values.
Is real estate in Las Vegas, NV a good investment right now?
Las Vegas, NV shows an investability rating of 3.0/5, with median home values near $766K and average rents around $2,930/mo. That combination puts it in the impressive tier for investor interest.
You know 89138 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 89138 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 89138 ranks in Las Vegas-Henderson-Paradise, NV
Every ZIP in this metro, ranked. Free.
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