3891 James Paul Avenue, Las Vegas, NV 89104, Las Vegas, 89104 - 3 bed, 3 bath
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Las Vegas, NV 89104
This Proven Income-Producing Asset presents a High-Potential Investment Opportunity with a List Price of $389,000—positioned below the $395,857 Fair Market Value by 2%. This valuation gap offers $6,857 in Instant Equity. Currently maintaining a Fair Condition Rating, the property features a stable 12-year tenant history and $0 HOA fees, maximizing net cash flow. While the interior requires cosmetic updates for Value-Add Potential, the proximity to Walter V Long Elementary ensures continued rental demand. This is an ideal acquisition for Buy-and-Hold Investors or Portfolio Managers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3891 James Paul Avenue Subject | $389,000* List Price | 3 | 3 | 1,604 | $247 | - |
A 2356 Grannis Lane Sold | $415,000 | 3 | 3 | 1,622 | $256 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1996, this 28-year-old property falls into the fair category as it is aged and shows signs of being outdated. The listing description explicitly mentions 'opportunity for future value-add improvements,' and the images reveal worn carpeting and basic, older finishes. While functional and currently tenant-occupied, the home has not undergone recent major renovations and requires cosmetic updates to meet modern quality standards.
The property features a highly stable, long-term tenant of over 12 years, offering investors immediate and consistent cash flow from the date of purchase.
With an association fee of $0, this property minimizes monthly carrying costs, significantly enhancing the net return on investment compared to similar Las Vegas subdivisions.
The home presents a clear opportunity for future capital improvements and renovations, allowing an investor to force appreciation while the property is already income-producing.
The assigned elementary, middle, and high schools all carry a rating of 3/10, which may limit the property's appeal to family-oriented owner-occupants and impact long-term appreciation.
At just 3,920 square feet, the lot is relatively compact for a single-family residence, offering minimal outdoor space for recreation or potential expansions.
Well-located investment opportunity with a long-term tenant already in place for over 12 years, offering immediate and consistent rental income from day one. This property provides a stable, proven occupancy history, making it an ideal addition to any investor’s portfolio. The home has been tenant-occupied and presents an opportunity for future value-add improvements while maintaining cash flow. Conveniently situated near local amenities, shopping, and major access routes, ensuring continued rental demand. Whether you’re looking for a turnkey income property or a long-term hold with upside potential, this is a solid investment opportunity in today’s market.
No exterior & parking available.
Grades PK-5 • 0.2 mi
Grades 6-8 • 0.6 mi
Grades 9-12 • 1.9 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 3.0 | 2.0 | 68% |
| Square foot | 1,604 | 1,593.5 | 51% |
| Lot Size | 3,920 | 6,970 | 3% |
| Price | $389.0K | $353.5K | 63% |
| Price per sq ft | $243 | $222 | 64% |
| Built year | 1996 | 1959 | 97% |
| HOA | $0 | $0 | 50% |
| Days on market | 27 | 349 | 1% |
Mar 26, 2026
$389,000
Initial Listing
Mar 8, 2012
$79,500
Public Record
Mar 18, 1996
$111,000
Public Record