5171 Reeder Circle, Las Vegas, NV 89119, Las Vegas, 89119 - 3 bed, 2 bath
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Las Vegas, NV 89119
This High-Yield Multi-Unit Investment Asset is listed at $499,000, reflecting a valuation driven by income performance rather than the $405,807 Fair Market Value. The property generates a robust $4,100 monthly rent roll through a main house and several unpermitted additions, resulting in a Condition Rating of 4. Situated less than five minutes from the airport, this Value-Add Acquisition offers a strategic location for high rental demand and is currently under professional management. This cash-flowing opportunity is an ideal fit for Buy-and-Hold Investors or Cash Buyers seeking immediate ROI.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5171 Reeder Circle Subject | $449,000* List Price | 3 | 2 | 1,288 | $317 | - |
A 931 LULU Avenue Sold | $400,000 | 3 | 2 | 1,212 | $330 | 0.2 mi |
B 922 Westminster Avenue Sold | $320,000 | 3 | 2 | 1,134 | $282 | 0.2 mi |
C 931 Lulu Avenue Sold | $400,000 | 3 | 2 | 1,212 | $330 | 0.2 mi |
D 1037 Westminster Avenue Sold | $315,000 | 3 | 1 | 972 | $324 | 0.2 mi |
E 1108 Princess Katy Avenue Sold | $418,000 | 3 | 2 | 1,464 | $286 | 0.4 mi |
F 1114 Westminster Avenue Active | $390,000 List Price | 3 | 2 | 1,134 | $344 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1974, the property shows signs of age but has been maintained with some cosmetic updates, including newer laminate flooring and a stainless steel refrigerator. The kitchen and bathrooms appear functional but utilize basic, dated materials and fixtures. The most significant factor limiting the score is the presence of multiple unpermitted additions and studios, which indicates potential issues with code compliance and system integrity, despite the interior appearing move-in ready for tenants.
The property generates a robust total rent roll of $4,100 per month, offering investors an exceptional gross yield and immediate cash flow from multiple income streams.
Situated less than five minutes from the airport, the property is in a prime area for high rental demand and offers excellent accessibility for tenants.
The asset is currently under professional property management, providing a seamless transition for a new owner and ensuring established tenant oversight is already in place.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 4.
The property includes multiple non-approved additions and studios, which poses significant risks regarding code enforcement, potential fines, and legal compliance.
Due to the extensive non-permitted living spaces, traditional conventional financing may be difficult to secure, likely requiring a cash or hard money buyer.
Investors!! Don't miss this opportunity to own a cash-flowing rental. This property is in a prime location, conveniently located less than 5 minutes from the airport. Main house is a ranch style home featuring 3 bed/ 2 bath open floor plan with tile flooring. The master bedroom has a walk in closet and separate bathroom. The current tenant at main house pays $2000/ month. Non-approved addition to main house includes another bedroom/ bathroom. There are 2 non-approved studios currently rented, each paying $600/ month and $800/ month. There is also a non-approved 1 bed/1 bath paying $700/ month. Total rent roll is $4100/ month and are under professional property management. Showings can be made by appointment for serious buyers with serious offers. All other interested parties- please drive by property only. Do not disturb tenants!! Furniture in main house can be sold with the property if interested.
No exterior & parking available.
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 | 1,288 | 1,548 | 21% |
| Lot Size | 6,970 | 6,970 | 50% |
| Price | $449.0K | $375.0K | 83% |
| Price per sq ft | $349 | $251 | 95% |
| Built year | 1974 | 1979 | 42% |
| HOA | $0 | $0 | 50% |
| Days on market | 84 | 1055 | 2% |
Apr 21, 2026
$449,000
$499,000
-10% Price Drop
Initial Listing
Jan 28, 2026
$499,000
Initial Listing
Jun 16, 1995
$90,000
Public Record