4567 S Nellis Boulevard, Las Vegas, NV 89121, Las Vegas, 89121 - 3 bed, 2 bath
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Las Vegas, NV 89121
This Leased Residential Asset offers a stable entry into the Las Vegas market, listed at $370,000—matching its $370,000 Fair Market Value. The property provides immediate cash flow with an existing tenant and No HOA Fees, significantly enhancing net operating income. While the Condition Rating of 4 indicates a need for cosmetic modernization of the 1962 interiors, the 1,515 sqft layout and huge fenced backyard with a patio cover offer clear value-add potential. Proximity to William E. Ferron Elementary adds functional appeal for this acquisition, which is ideal for Buy-and-Hold Investors or Value-Add Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 4567 S Nellis Boulevard Subject | $370,000* List Price | 3 | 2 | 1,515 | $244 | - |
A 4165 Grace Street Sold | $465,000 | 4 | 2 | 1,590 | $292 | 0.9 mi |
B 4498 McMillan Road Sold | $360,000 List Price | 3 | 3 | 1,611 | 1.0 mi | |
C 4248 Sheppard Drive Sold | $320,000 | 3 | 2 | 1,552 | $206 | 0.4 mi |
D 4194 Gibraltar Street Sold | $399,999 List Price | 3 | 2 | 1,722 | 0.7 mi | |
E 4777 El Escorial Drive Sold | $369,000 List Price | 3 | 2 | 1,544 | 0.5 mi | |
F 4889 Powell Avenue Sold | $369,000 List Price | 3 | 2 | 1,707 | 0.3 mi | |
G 4606 Powell Avenue Active | $410,000 List Price | 4 | 2 | 1,515 | $271 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1962, the property is functional and currently leased but shows significant signs of age. The kitchen features dated tile countertops and older cabinetry, while bedrooms retain vintage wood paneling. While the flooring has been updated to tile and a newer refrigerator is present, the overall aesthetic and fixtures are outdated and would require cosmetic modernization to meet current market standards.
As a currently leased property, this home offers investors immediate cash flow and a turnkey opportunity without the initial vacancy period.
The absence of a homeowners association fee reduces monthly carrying costs and eliminates restrictive community covenants, increasing overall profitability.
The property features a large, fully fenced backyard with a patio cover, storage shed, and rear access, providing significant utility and privacy.
Built in 1962, the property may require more frequent maintenance or updates to its older mechanical and structural systems compared to modern builds.
The assigned public schools have ratings as low as 2 and 3, which may limit the property's appeal to families and impact long-term appreciation.
Investors Welcome. Leased Property with 3 Bedroom, 2 Baths, Tile throughout. Ceiling fans. Kitchen with water treatment, and refrigerator. Mirror closet doors. Huge back yard with shed, and patio cover. Access to the back yard. Fully fenced. Desert landscape in the back yard. Lawn with sprinter system in the front yard, and Mature tree.
No exterior & parking available.
Grades PK-5 • 0.2 mi
Grades PK-5 • 0.6 mi
Grades 6-8 • 1.1 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,515 | 1,779 | 23% |
| Lot Size | 6,098 | 7,405 | 11% |
| Price | $370.0K | $380.0K | 48% |
| Price per sq ft | $244 | $208 | 72% |
| Built year | 1962 | 1972 | 3% |
| HOA | $0 | $0 | 50% |
| Days on market | 305 | 495 | 47% |
Jun 22, 2025
$370,000
Initial Listing
Jul 1, 1997
$95,000
Public Record