New construction under $400,000 has quietly become the rarest thing in the Las Vegas market. Across all 9,022 active listings in the city, exactly 42 were built in 2025 or later and are asking under $400,000. That is not a market segment. That is a rounding error.
Nine of those 42 sit in Sunrise Manor.
Parkhill Crest is a gated StoryBook Homes townhome community in Sunrise Manor, Las Vegas. Its Heywood plan — three bedrooms, 2.5 baths, two-car garage, upstairs loft, just under 1,900 square feet — listed around $370,000 when we toured it, near $195 per square foot. Sunrise Manor's closed sales over 180 days ran $227 per foot; the metro ran $251. The new build is the cheaper foot.
- Only 42 of 9,022 active Las Vegas listings were built in 2025 or later and ask under $400,000.
- The Heywood prices near $195 per square foot against a Sunrise Manor resale median of $227.
- Sunrise Manor closed 571 sales in 180 days at a $355,000 median and 21 days on market.
- No SID or LID assessment here — a rarity that changes the real monthly cost.
- The finished backyard is included, which is where most Las Vegas new-build budgets break.
Nevada Real Estate Group has represented buyers on both sides of that trade — resale and new construction — across more than 9,600 closings, and the pattern is consistent: buyers shopping under $400,000 assume new construction is out of reach and stop looking. The numbers below say otherwise in one specific corridor.
Every price comparison in this article comes from a sweep of all 9,022 active Las Vegas listings and all 8,334 closed sales in the preceding 180 days, pulled on August 25, 2026.
How Rare Is New Construction Under $400,000 in Las Vegas?
Rare enough that the number surprises people who work in this market every day.
Filter the entire Las Vegas MLS to homes built in 2025 or later, asking under $400,000, and 42 listings come back. The metro carries 9,022 active listings overall. That is under half of one percent of inventory.
For scale, there are 3,317 active Las Vegas listings under $400,000 in total. So the under-$400K segment is healthy — it is the new part that has nearly vanished. Roughly one in every 79 homes for sale under $400,000 was built in the last two years.
| Segment | Active listings | Median list price |
|---|---|---|
| All Las Vegas | 9,022 | $467,220 |
| Under $400,000 | 3,317 | $290,704 |
| Built 2025+, under $400,000 | 42 | $385,227 |
| Sunrise Manor, all | 570 | $365,000 |
| Sunrise Manor townhomes | 53 | $260,000 |
Those 42 homes are not evenly spread. They cluster in eight ZIP codes: 89106 holds seven, then 89148, 89156 and 89166 with five apiece, 89110 and 89149 with four, 89101 with three, and 89107 with two. The median size across all 42 is 1,539 square feet.
Two of those ZIPs — 89110 and 89156 — are Sunrise Manor. Between them they hold nine of the 42. That is more affordable new construction than Summerlin, Henderson or the southwest can offer at this price, and it is the reason a community like Parkhill Crest is worth understanding rather than dismissing.
What Is Parkhill Crest and Where Does It Sit?
Parkhill Crest is a gated townhome community by StoryBook Homes, a Las Vegas builder, in the Sunrise Manor area on the east side of the valley.
Sunrise Manor is an unincorporated town in Clark County rather than part of the City of Las Vegas proper, which matters for a few practical reasons covered further down. According to the U.S. Census Bureau, it is one of the larger census-designated places in Nevada by population, and it has historically been among the more affordable parts of the valley.
The community is gated, which at this price point is genuinely uncommon. Most Las Vegas gated product starts considerably higher — our guide to guard-gated communities in Las Vegas covers where the real luxury gates sit, and Parkhill Crest is not that. This is a private residential gate on a townhome community, not a staffed guardhouse. The distinction matters and is worth being precise about.
What Does the Heywood Floor Plan Actually Give You?
The Heywood is a two-story plan at just under 1,900 square feet: three bedrooms, two and a half bathrooms, a two-car garage, and an upstairs loft.
The half bath sits downstairs, which is the right place for it. The main floor is open-concept — kitchen overlooking the living and dining areas — with nine-foot ceilings on the first floor. Nine-foot ceilings are not standard at this price and they change how the room reads considerably more than a floor plan on paper suggests.
The kitchen carries granite counters, a waterfall-edge island, stainless Whirlpool appliances, 42-inch soft-close cabinetry and a walk-in pantry. Forty-two-inch uppers are a detail worth naming, because the common cost-saving move in this price band is 36-inch cabinets with a soffit above, and the difference is visible from the doorway.
The upstairs loft is the flexible square footage. In a three-bedroom plan it usually becomes an office, a second living area, or the room that decides whether the house works for a particular household.
| Measure | Heywood at Parkhill Crest | Sunrise Manor | Las Vegas metro |
|---|---|---|---|
| Price point | Approximately $370,000 | $355,000 median sold | $439,430 median sold |
| Price per square foot | About $195 | $227 median | $251 median |
| Age | New construction | Predominantly resale | Predominantly resale |
| Days on market | Builder inventory | 21 days median | Varies by segment |
| Gated | Yes, private gate | Uncommon under $400K | Uncommon under $400K |
Is $195 per Square Foot Actually Good in Sunrise Manor?
Yes, and the gap is wider than most buyers expect.
We pulled every closed sale in the four Sunrise Manor ZIP codes over the trailing 180 days — 559 sales with usable square footage — and the median came out at $227 per square foot. The same calculation across Las Vegas produced $251.
A roughly $370,000 price on just under 1,900 square feet lands near $195. That is about 14% below the area's resale median per foot and roughly 22% below the metro.
In our experience the usual expectation is the reverse. New construction normally carries a premium per foot over comparable resale, because you are buying a home nobody has lived in, with a builder warranty and current code. Here the new build is the cheaper foot, which is worth pausing on rather than skimming past.
Two things explain most of it. Townhome product carries a lower per-foot price than detached housing almost everywhere, and Sunrise Manor's resale stock skews older and smaller, which pushes its per-foot number up relative to the square footage you actually get.
What Do the Sunrise Manor Numbers Look Like Right Now?
Sunrise Manor is not a slow market. Over the trailing 180 days the four ZIPs closed 571 sales at a $355,000 median, with a median of 21 days on market.
Twenty-one days is a functioning, competitive market. It is not a market where inventory sits.
Active supply stands at 570 listings with a $365,000 median asking price. The near match between 570 active and 571 closed in six months is a rough balance — roughly six months of supply if nothing new listed, which historically reads as a market without much slack in either direction.
According to Las Vegas REALTORS, valley-wide inventory and pricing have moved through several distinct phases since 2020, and the affordable end of the market has consistently behaved differently from the luxury end. Sunrise Manor sits firmly at the affordable end.
Why Does "No SID or LID" Matter More Than It Sounds?
Because it is a real monthly number that does not appear in the sale price, and many Las Vegas new-construction buyers discover it after they are committed.
A Special Improvement District or Local Improvement District is a financing mechanism a municipality uses to fund infrastructure — streets, sewers, utilities, streetlights — for a new development. The cost is then assessed against the homes that benefit, and repaid over years through a line on the property tax bill.
The Nevada Revised Statutes Chapter 271 governs how local improvement districts are created and assessed. According to the Clark County Assessor, special assessments appear separately from the standard ad valorem property tax, which is exactly why they are easy to miss when a buyer is comparing two homes by price alone.
In practice, an SID or LID assessment on a Las Vegas new-construction home can add a meaningful amount to the annual carrying cost, and it runs for the life of the bond. Two homes at the same $370,000 price are not the same purchase if one carries an assessment and the other does not.
At the time of our tour, Parkhill Crest was described as carrying no SID or LID. That is worth confirming in writing for the specific lot you are considering — assessments attach to parcels, not communities — but if it holds, it is one of the more consequential line items in the entire comparison.
What About the HOA, and Is $150 a Month Reasonable?
At the time of filming, the HOA was discussed at approximately $150 per month, covering the private gate and community infrastructure.
For context on what HOA money buys in this valley: gate maintenance and access control is a genuine recurring cost, and a community that funds it out of $150 monthly is not overcharging. Across the Las Vegas valley, association budgets at this level typically fund access control, common-area maintenance and insurance, with the balance going to reserves.
Across the closings we've represented, the thing to check is not the number but the reserve study. According to the Nevada Real Estate Division, Nevada common-interest communities are governed by NRS Chapter 116, which sets out requirements around association budgets, reserves and disclosure. A new community's HOA dues frequently start low and rise as the association takes over from the builder and the reserve obligations become real.
Ask for the reserve study and the budget before you remove your contingency. A $150 dues figure that is underfunded today becomes a larger figure later, and that is a normal, predictable pattern rather than anything sinister.
How Much Is the Finished Backyard Actually Worth?
More than most buyers budget for, and this is where Las Vegas new construction most often breaks a household's numbers.
The standard practice across much of the valley is that a new home is delivered with a graded dirt backyard. Landscaping is the buyer's responsibility, and in the Las Vegas climate it is not optional — bare dirt in a desert yard becomes a dust and drainage problem quickly.
At the time of filming, this home included a finished backyard with turf and a concrete pad. A finished yard on a new build is a several-thousand-dollar item that arrives complete rather than as a post-closing project you fund out of pocket after your down payment and closing costs are already spent.
The timing is the part that matters. Landscaping done after closing comes out of cash, at the exact moment a buyer has the least of it. Landscaping included in the purchase is financed with the home.
According to the Southern Nevada Water Authority, turf and landscape choices in this valley carry ongoing water-use implications and there are restrictions on certain kinds of non-functional grass, so it is worth confirming what specifically is installed and whether it complies.
What Does the 6% Closing Cost Incentive Actually Do?
At the time of filming, incentives were described as potentially including up to 6% toward closing costs.
Six percent is a substantial number and it deserves a clear-eyed look rather than excitement. On a $370,000 purchase, 6% is $22,200 — but that figure is a ceiling on what can be applied, not a discount, and it is almost always tied to using the builder's preferred lender.
The honest way to evaluate it is arithmetic, not enthusiasm. Get a written quote from an outside lender. Get the builder lender's quote. Compare the rate, the origination and discount points, and the total cash to close on both. If the builder's lender is a quarter point higher on a 30-year note, that costs real money for decades, and a one-time credit can be worth less than it appears.
According to the Consumer Financial Protection Bureau, the Loan Estimate exists precisely so two offers can be compared line by line, and it is the document to insist on from both lenders before deciding.
We've seen the builder credit genuinely win more often than not — but only after the comparison. But it wins on the math, and the math takes an afternoon.
Who Is StoryBook Homes and Does the Builder Matter Here?
StoryBook Homes is a Las Vegas-based builder rather than one of the national production builders that dominate the valley's new-construction volume.
Whether that matters depends on what you value. National builders bring standardized processes, large warranty departments and predictable timelines. Regional builders often bring more direct access to decision-makers and, in some cases, more willingness to address issues without escalation.
According to the Nevada State Contractors Board, every residential builder operating in Nevada must hold an active license, and the Board maintains searchable records including complaint history. That lookup takes about two minutes and is worth doing for any builder, regional or national.
What actually protects a buyer more than brand reputation is the walkthrough and the contract. Our guide to builder contract clauses worth negotiating in Las Vegas covers the specific terms — arbitration, warranty scope, delay provisions — that determine what happens when something goes wrong. Those clauses are the same question regardless of who built the house.
What Are the Real Trade-Offs of Buying in Sunrise Manor?
There are genuine ones, and a fair article names them.
Sunrise Manor is on the east side of the valley, which puts it further from the Las Vegas employment and retail corridors on the west and southwest sides that many buyers orient around. Commute times to the west side are real. Our comparison of the cheapest places to live in Las Vegas looks at where affordability and access actually intersect across the valley.
School assignments vary considerably within the area. Clark County School District zoning determines which schools a specific address feeds, and the Nevada Department of Education publishes performance data by school. Both are address-specific rather than area-wide, so check the actual parcel.
Townhome living means shared walls and an association with authority over the exterior. That is a genuine lifestyle trade, not a defect, but it is different from a detached home on its own lot. Shared walls affect sound transmission between units, and exterior changes — paint, landscaping visible from the street, satellite dishes, even some window treatments — typically require architectural approval. Buyers coming from a detached home consistently underestimate how much that governance matters day to day.
There is also a resale consideration worth naming. Townhomes compete against a narrower buyer pool than detached homes, because some buyers rule out attached product entirely. That does not make them a poor purchase — Sunrise Manor's 53 active townhomes carry a $260,000 median against the area's $365,000 overall, so they serve a real and active segment — but it does mean the eventual sale is to a smaller audience. If you are weighing that trade, our guidance for first-time buyers covers how to think about a starter purchase you may outgrow, and what selling looks like in this valley is worth reading before you buy rather than after.
For comparison shopping, Henderson offers newer surrounding infrastructure at generally higher prices, and running a live search across the valley is the fastest way to see what a given budget actually buys in each area today.
And Sunrise Manor's resale stock skews older. A new build inside it is a different product from what surrounds it, which cuts both ways: it is the newest thing on the block, and it is surrounded by things that are not.
How Does This Compare to Other Affordable New Construction in the Valley?
It is one of a small handful of genuine options, and the alternatives are worth knowing.
The 42 sub-$400,000 new builds cluster in a few areas, and each carries a different trade. The 89106 and 89101 listings sit closer to the urban core. The 89148 and 89166 listings sit on the west and northwest edges, which means newer surrounding infrastructure but longer drives to the center. The 89110 and 89156 listings — Sunrise Manor — sit east.
Our review of Vista Cielo by Harmony Homes covers another end of the affordable new-construction market, and new construction across Las Vegas generally is the broader starting point if you are comparing communities rather than a specific plan.
For buyers who can stretch past $400,000, the options widen substantially and the trade-offs change. Below it, the field is genuinely narrow, and that narrowness is the single most important fact in this entire article.
What Should a Buyer Verify Before Signing at Parkhill Crest?
Everything in this article that came from the tour rather than the MLS.
Pricing, incentives, availability, HOA dues, included features, upgrades, lot premiums and appliance packages all change, and they change per lot and per phase. What was accurate on the day we filmed may not be accurate on the day you walk in. Nothing here is an offer or a guarantee of terms.
The list worth walking in with: confirm the SID and LID status for the specific parcel in writing. Get the HOA budget and reserve study. Get the incentive terms in writing, including what is conditional on the preferred lender. Confirm exactly what "finished backyard" includes for your lot. Get an independent Loan Estimate. And have an independent home inspection on a new build — new does not mean flawless, and a third-party inspector before the builder walkthrough is one of the highest-return few hundred dollars in the entire transaction.
If you would like help running those numbers on a specific lot, or a walkthrough of how the incentive compares to an outside lender for your situation, call or text (702) 637-1759. We represent buyers on new construction at no cost to the buyer, and the builder's sales agent represents the builder — not you.
| Item to confirm | Ask whom | Why it changes the number |
|---|---|---|
| SID / LID status for the parcel | Builder, in writing; Clark County Assessor | An assessment is a recurring cost invisible in the sale price |
| HOA budget and reserve study | Association or builder | New-community dues often start low and rise as reserves fund |
| Incentive terms and conditions | Builder sales office, in writing | A 6% credit is usually tied to the preferred lender |
| Exact backyard inclusions | Builder, per lot | Turf and a pad are worth thousands and vary by lot |
| Independent Loan Estimate | An outside lender | Rate held 30 years can outweigh a one-time credit |
| Third-party home inspection | Independent inspector | New does not mean flawless; findings are cheapest pre-walkthrough |
Frequently Asked Questions
How many new construction homes under $400,000 are actually available in Las Vegas?
Forty-two, as of August 25, 2026, out of 9,022 active listings citywide. That counts homes built in 2025 or later asking under $400,000. There are 3,317 active listings under $400,000 in total, so the affordable segment is healthy — it is specifically the new-construction slice of it that has nearly disappeared.
Is $370,000 a good price for a new townhome in Sunrise Manor?
On a per-square-foot basis it prices below the area. Just under 1,900 square feet at roughly $370,000 works out near $195 per square foot. Sunrise Manor's closed sales over the trailing 180 days ran a $227 median per foot, and Las Vegas overall ran $251. Whether it is right for you depends on location and the townhome trade-off, but the pricing is not a premium.
What is an SID or LID and why does it matter in Las Vegas?
A Special or Local Improvement District finances infrastructure for a new development and assesses the cost against the homes that benefit, repaid over years on the property tax bill. It is a real monthly cost that is invisible in the sale price. Two homes at the same price are not the same purchase if one carries an assessment. Confirm the status for the specific parcel in writing.
Should I use the builder's preferred lender to get the closing cost incentive?
Only if the math works after comparison. Get a Loan Estimate from the builder's lender and from an outside lender, then compare rate, points and total cash to close. A one-time credit can be worth less than a lower rate held for thirty years. Sometimes the builder's package genuinely wins — but it should win on arithmetic.
Does a gated townhome community mean the same thing as guard-gated?
No. Parkhill Crest has a private residential gate. Guard-gated communities have staffed guardhouses with controlled entry and typically sit at much higher price points. Both offer access control; they are different products at different costs, and the terms are often used interchangeably when they should not be.
Is Sunrise Manor a good area to buy in?
It is one of the more affordable parts of the valley and it is transacting actively — 571 closed sales in 180 days at a 21-day median. The trade-offs are location relative to the west-side corridors, an older surrounding housing stock, and address-specific school assignments worth checking individually rather than by reputation.
Do I need my own agent to buy new construction?
The builder's sales agent represents the builder. Buyer representation costs the buyer nothing on new construction in this market and gives you someone reviewing the contract, the incentive terms and the walkthrough on your side. Register your representation on your first visit — many builders will not honor it if you tour unaccompanied first.
Which Sources Inform This Parkhill Crest Guide?
Inventory, pricing and days-on-market figures come from Nevada Real Estate Group's analysis of Repliers MLS data covering all 9,022 active Las Vegas listings and all 8,334 closed sales in the trailing 180 days, pulled August 25, 2026. Per-square-foot medians are computed from 559 Sunrise Manor and 593 Las Vegas closed sales with reported square footage. Plan details, pricing and incentives described from the community as of our August 14, 2026 walkthrough and subject to change.
- Las Vegas REALTORS — valley market statistics
- U.S. Census Bureau — Sunrise Manor demographics
- Nevada Revised Statutes Chapter 271 — local improvement districts
- Nevada Revised Statutes Chapter 116 — common-interest communities
- Clark County Assessor — special assessments and parcel records
- Nevada Real Estate Division — HOA regulation
- Nevada State Contractors Board — builder licensing and complaints
- Consumer Financial Protection Bureau — Loan Estimate comparison
- Southern Nevada Water Authority — landscape and water-use rules
- Clark County School District — school zoning
- Nevada Department of Education — school performance data
- Clark County Department of Building and Fire Prevention — permitting and code
