Rental numbers for ZIP 89109 (Las Vegas, NV)
Negative cash flow at today's 7.78% investor rate with 25% down; the typical home breaks even at about 4.1%.
- Gross yield
- 7.1%
- rent x 12 / price
- Est. cap rate
- 4.3%
- NOI / price
- Cash flow
- -$625/mo
- at 7.78%, 25% down
- Typical price
- $354,000
- Zillow ZHVI, Aug 2026
- Typical rent
- $2,102/mo
- Zillow ZORI, Aug 2026
The pro forma
Typical home, default assumptions
| Operator | Line | Amount | Source |
|---|---|---|---|
| Gross rent | $25,224 | ||
| Vacancy | $1,261 | ||
| Management | $1,917 | ||
| Property tax | $1,888 | ||
| Insurance | $1,216 | ||
| Maintenance | $3,542 | ||
| Net operating income | $15,400 | ||
| Loan payments | $22,904 | ||
| Cash flow | -$7,504 |
| Operator | Line | Amount | Source |
|---|---|---|---|
| Typical price | $354,199 | ||
| Down payment (25%) | $88,550 | ||
| Loan | $265,649 | ||
| Rate | 7.78% | ||
| Monthly payment | $1,909 | ||
| Cash in | $99,176 | ||
| Cash-on-cash return | -7.6% | ||
| DSCR | 0.67 | ||
| Break-even rate | 4.10% |
Assumptions
Change them in the calculator- Down payment25%
- A common minimum for investment-property and DSCR loans.
- Interest rate7.78%
- Freddie Mac 30-year 7.03% (week of 2026-09-24) + 0.75 point investor premium.
- Loan term30 years
- Fixed, fully amortising.
- Closing costs3% of price
- Added to cash invested.
- Insurance$1,216 a year
- NAIC 2023 average homeowners (HO-3) premium for Nevada, $1,013, x 1.2 for a landlord policy.
- Maintenance1% of price a year
- The 1% rule of thumb; older homes run higher.
- Vacancy5% of rent
- About 18 days empty a year.
- Management8% of collected rent
- A typical full-service fee; zero if you self-manage.
Trends
Five years to August 2026
- Price, 12 months
- -5.5%
- Rent, 12 months
- +4.1%
- Rent minus price growth
- +9.6 pts
- positive means yields are improving
Show the numbers
| Month | Typical value | Rent |
|---|---|---|
| Aug 2021 | $302,818 | n/a |
| Aug 2022 | $362,278 | $1,991 |
| Aug 2023 | $345,231 | $1,929 |
| Aug 2024 | $363,782 | $1,969 |
| Aug 2025 | $374,841 | $2,020 |
| Aug 2026 | $354,199 | $2,102 |
Rent references
Two sources, never blended
| Source | Studio | 1 bed | 2 bed | 3 bed | 4 bed |
|---|---|---|---|---|---|
| HUD Small Area FMR, FY2026 | $1,190 | $1,330 | $1,580 | $2,210 | $2,560 |
| Zillow observed rent, Aug 2026 | $2,102 typical, all home types | ||||
HUD's Fair Market Rent is the 40th percentile gross rent (rent plus utilities) for a standard unit, and it is what Section 8 vouchers pay against. Zillow's index tracks asking rents on listed homes. The two measure different things, so they are shown side by side and never averaged. HUD area: Las Vegas-Henderson-North Las Vegas, NV MSA.
Property tax
- Effective rate
- 0.53%
- ZIP area, ACS
- At the typical price
- $1,888/yr
Median real estate taxes paid divided by median home value, Census ACS 2020 to 2024. Clark County: 0.48%. Actual bills depend on the assessment, exemptions and any non-homestead rate.
Supply
- Permits per 1,000 households
- 12.9
- Clark County, last 12 months
- National percentile
- 79th
- among US counties
11,143 new housing units permitted in 2025-09 to 2026-08, Census Building Permits Survey. A high figure means more new supply competing for tenants.
Nearby ZIP codes
| ZIP | Distance | Typical price | Rent | Gross yield | Cash flow /mo |
|---|---|---|---|---|---|
| 89102Las Vegas | 1.3 mi | $369,000 | $1,344 | 4.4% | -$1,343 |
| 89169Las Vegas | 1.7 mi | $275,000 | $1,248 | 5.5% | -$789 |
| 89158Las Vegas | 1.9 mi | $578,000 | $5,092 | 10.6% | +$536 |
| 89103Las Vegas | 2.7 mi | $254,000 | $1,418 | 6.7% | -$514 |
| 89146Las Vegas | 3.3 mi | $397,000 | $1,525 | 4.6% | -$1,391 |
| 89107Las Vegas | 3.5 mi | $351,000 | $1,341 | 4.6% | -$1,208 |
| 89106Las Vegas | 3.5 mi | $336,000 | $1,597 | 5.7% | -$894 |
| 89119Las Vegas | 3.5 mi | $262,000 | $1,323 | 6.1% | -$654 |
Run the numbers on a real listing
The calculator opens with this ZIP's figures. Swap in a listing's price and rent, your rate and your costs.
Open the calculator for 89109Questions
- Is 89109 good for rental property?
- On the typical home here, priced at $354,000 and renting for $2,102 a month (Zillow ZORI, Aug 2026), the gross yield is 7.1% and the estimated cap rate is 4.3%. At a 7.78% investor rate with 25% down, estimated cash flow is -$625 a month. The median gross yield across the 8,418 ZIP codes with full Zillow data is 5.6%. These are figures for a typical property, not a judgement on any particular one.
- What is the typical rent in 89109?
- Zillow's observed rent index for 89109 was $2,102 a month in August 2026, across all home types. HUD's FY2026 Small Area Fair Market Rent for a 2-bedroom here is $1,580, the 40th percentile of gross rents and the basis for Section 8 payment standards.
- What is the property tax rate in 89109?
- The effective property tax rate is about 0.53% of value (median taxes paid divided by median home value, Census ACS 2020 to 2024). On the typical $354,000 home that is about $1,888 a year. Your bill depends on the assessment and local exemptions.
- What interest rate makes a rental in 89109 break even?
- About 4.10%. Below that rate, the typical home here cash-flows with 25% down and the default costs; above it, it does not. Today's investor rate used here is 7.78%.
- How fast are prices and rents changing in 89109?
- Over the 12 months to August 2026, the typical home value changed -5.5% and the typical rent changed +4.1%. Rents rising faster than prices pushes yields up.
Sources and method
- Zillow Home Value Index (ZHVI), mid tier, smoothed and seasonally adjusted
Zillow Research. Read: 2026-08.
Typical home value by ZIP, county, metro and state, and the price trend.
- Zillow Observed Rent Index (ZORI), all homes plus multifamily, smoothed
Zillow Research. Read: 2026-08.
Typical market rent by ZIP, county and metro, and the rent trend (tier A pages).
- HUD Small Area Fair Market Rents, FY2026
US Department of Housing and Urban Development. Read: FY2026.
Rent by bedroom count for every ZIP. The rent used on tier B pages, and a reference on all pages. It is the 40th percentile gross rent, so it runs below market.
- American Community Survey 5-year estimates, 2020 to 2024 (B25103 median real estate taxes paid, B25077 median home value, B11001 households)
US Census Bureau. Read: 2020 to 2024.
Effective property tax rate (median taxes paid divided by median value) by ZIP code tabulation area, county and state; households for the permits ratio.
- Freddie Mac Primary Mortgage Market Survey, 30-year fixed (FRED series MORTGAGE30US)
Freddie Mac via the Federal Reserve Bank of St. Louis. Read: 2026-09-24.
The weekly 30-year rate. The site adds a disclosed investor premium to it for the loan payment.
- Building Permits Survey, county monthly files
US Census Bureau. Read: 2025-09 to 2026-08.
New housing units permitted in the last 12 months per 1,000 households, a supply-pressure signal.
- NAIC Homeowners Insurance Report, data for 2023
National Association of Insurance Commissioners. Read: 2023.
Average HO-3 homeowners premium by state, multiplied by 1.2 as a landlord-policy assumption.
Data: Zillow Research (ZHVI, ZORI), HUD, US Census Bureau, Freddie Mac. Every formula is on the methodology page.
Estimates from public data for a typical property. Not investment, tax or legal advice. Your property, financing and costs will differ.