5171 Reeder Circle, Las Vegas, NV 89119, Las Vegas, 89119 - 3 bed, 2 bath
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Las Vegas, NV 89119
This property presents a High-Potential Investment Opportunity with a List Price of $399,000—positioned well below the $377,607 Fair Market Value by -5%. Currently generating $4,100 in monthly rent, this multi-unit asset offers immediate cash flow, though it carries a Condition Rating of 4 due to unpermitted additions. Investors must conduct due diligence regarding code compliance and zoning. This is a strategic acquisition for Buy-and-Hold Investors or Cash Buyers seeking a high-yield, income-producing property in a prime airport-adjacent location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5171 Reeder Circle Subject | $399,000* List Price | 3 | 2 | 1,288 | $293 | - |
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 1108 Princess Katy Avenue Sold | $418,000 | 3 | 2 | 1,464 | $286 | 0.4 mi |
E 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 (50 years old) with some cosmetic updates such as LVP flooring and stainless steel appliances. While functional, the home is dated with popcorn ceilings and carries significant risk/liability due to multiple unpermitted additions that may require repairs to meet code compliance.
The property generates a substantial gross monthly income of $4,100, offering an exceptional gross yield and immediate cash flow for investors relative to the list price.
Situated less than five minutes from the airport in a high-demand Las Vegas area, the property is ideally positioned for consistent occupancy and long-term rental appeal.
The asset is currently under professional property management and fully leased, providing a ready-made income stream with no immediate vacancy or management setup required.
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 unpermitted living units, which presents significant risks regarding zoning compliance, building codes, and potential county enforcement actions.
Due to the unpermitted additions and non-conforming use, traditional financing will be difficult to secure, likely requiring a cash purchase or specialized high-interest lending.
Investor alert! Cash-flowing property in a prime location less than 5 minutes from the airport, generating $4,100 in gross monthly rent under professional property management. The main house is a 3-bed, 2-bath home featuring an open floor plan, tile flooring and a primary suite with walk-in closet and en-suite bath. The main house is leased at $2,000/month. The property includes additional income-producing units that are unpermitted: two studios leased at $800 and $600/month, and a 1-bed, 1-bath unit leased at $700/month. Buyer to perform their due diligence regarding the unpermitted additions and verify all use, zoning, and code compliance with Clark County. Furniture in the main house is negotiable and can convey with the sale. Showings by appointment for qualified buyers presenting serious offers. All other interested parties, drive-by only. Please do not disturb the tenants. Ask me about the portfolio sale! If you've ever wanted a deal for multiple properties now is the time
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 | 1,560 | 19% |
| Lot Size | 6,970 | 6,970 | 50% |
| Price | $399.0K | $375.0K | 58% |
| Price per sq ft | $310 | $245 | 89% |
| Built year | 1974 | 1982 | 37% |
| HOA | $0 | $0 | 50% |
| Days on market | 25 | 1129 | 2% |
May 12, 2026
$399,000
Initial Listing
Jun 16, 1995
$90,000
Public Record