405 Leonard Avenue, Las Vegas, NV 89106, Las Vegas, 89106 - 4 bed, 3 bath
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Las Vegas, NV 89106
This Turnkey Income Asset represents a High-Potential Investment Opportunity with a List Price of $385,000—positioned well below the $439,812 Fair Market Value by 12%. This valuation gap secures $54,812 in Instant Equity. Generating $3,000 monthly rent with tenants in place, the home features an updated kitchen, no carpet, and a Condition Rating of 4. With No HOA and proximity to 8/10 rated Jo Mackey Elementary, this is a high-yield acquisition for Buy-and-Hold Investors or Owner-Occupants.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 405 Leonard Avenue Subject | $385,000* List Price | 4 | 3 | 1,858 | $237 | - |
A 520 Leonard Avenue Sold | $349,999 | 4 | 2 | 1,536 | $228 | 0.1 mi |
B 1905 Walker Street Sold | $370,000 | 3 | 2 | 1,660 | $223 | 0.3 mi |
C 601 Frederick Avenue Sold | $395,000 | 4 | 2 | 1,624 | $243 | 0.2 mi |
D 525 Byrnes Avenue Sold | $322,000 | 4 | 2 | 1,344 | $240 | 0.2 mi |
E 1328 Balzar Avenue Sold | $315,000 | 4 | 2 | 1,320 | $239 | 1.0 mi |
F 1101 Leonard Avenue Active | $349,500 List Price | 3 | 3 | 1,854 | $189 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1954, this property is well-maintained but shows clear signs of age and dated finishes. While the kitchen has been updated with newer cabinetry and the home features tile and wood-look flooring, the presence of popcorn ceilings, older light fixtures, and visible wall wear/peeling paint in the bathrooms align with the 'fair' criteria. The home is functional and move-in ready for tenants, but requires minor cosmetic updates and repairs to meet modern quality standards.
The property serves as a turnkey investment with reliable tenants already in place generating $3,000 in monthly revenue, offering immediate cash flow.
The home features an updated kitchen and consistent tile or wood flooring throughout, providing a contemporary aesthetic and low-maintenance living without carpet.
The absence of a Homeowners Association eliminates monthly dues and restrictive covenants, offering the owner greater flexibility and lower carrying costs.
Originally constructed in 1954, the property may require more frequent maintenance or future capital expenditures on aging systems compared to newer builds.
The local assigned schools feature several low performance ratings, which could potentially limit the property's appeal to traditional family owner-occupants.
Amazing Investment Opportunity at an Irresistible Price! This Very Well Maintained, 4 Bedroom/3 Bathroom Home Has Tenants in Place at 3K a Month! Located on a Larger Sized Lot, and in a Convenient Location, What Else can You Ask For! NO HOA!! This Home of Almost 2K Sq. Ft. Features Tile and Wood Flooring Throughout, No Carpet, an Updated Kitchen, Open Floor Plan, Dining Room, Family Room, Appliances, Separate Laundry Room, and Large Backyard. Located Near Parks, Golf Courses, The Culinary Academy, World Famous Fremont St Experience, and The Ever Developing Arts District. Dont Miss Out!
No exterior & parking available.
Grades PK-5 • 0.3 mi
Grades PK-5 • 0.5 mi
Grades PK-5 • 0.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 64% |
| Baths | 3.0 | 2.0 | 84% |
| Square foot | 1,858 | 1,307 | 86% |
| Lot Size | 6,534 | 6,534 | 50% |
| Price | $385.0K | $310.0K | 85% |
| Price per sq ft | $207 | $223 | 49% |
| Built year | 1954 | 1963 | 6% |
| HOA | $0 | $0 | 50% |
| Days on market | 21 | 776 | 1% |
Apr 1, 2026
$385,000
Initial Listing
Dec 17, 2009
$45,000
Public Record