416 N 15th St · Las Vegas, NV 89101

$609,999

4 bd · 4.0 ba · 2,128 sqft · MultiFamily public records · 30 Days on market

Built 1966 6,534 sqft lot

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Why this score? — see what drove the F grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +9.6/30.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• DSCR +2.7/10.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• 1% rule +1.5/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Great investment oppurtunity! DO NOT MISS OUT!

Key facts

• Fourplex
• One on second floor
• Close to downtown

Tags

• FOURPLEX
• CLOSE TO DOWNTOWN
• THREE APARTMENTS DOWNSTAIRS
• ONE ON SECOND FLOOR

Property features AI

Finance

• Financial info: Month-to-month lease options; Annual tax reported

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-story building
• Construction: Stucco exterior; Composition and shingle roof
• Exterior features: Average condition (resale)

Interior

• Kitchen: Microwave
• Bedrooms: Four 1-bedroom units (fourplex)
• Flooring: Ceramic tile
• Bathrooms: Each unit has 1 full bathroom
• Heating & cooling: Electric wall furnace heating
• Interior features: Unfurnished; Laundry room; Ceramic tile flooring
• Laundry & utility: Shared laundry room

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1-bath units multifamily listed at $610k.

Deal economics

• At list price, monthly cash flow is $-417 ($-5k/yr) — negative. Per door: $-104/mo.
• To cash-flow at today's rent, offer at most $536k (12.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $397k (34.9% below list).
• Recommended offer: $397k (34.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 80/100 on livability (#2 in NV, #1,723 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime F.
• Clark County School District (urban): math 21% / reading 39% proficiency, ranked #11 of 17 in NV (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.5%/yr); 188 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 14,754 units permitted in Clark County in 2024 (2,301 in 5+ unit buildings).
• At $3,973/mo this rent would consume 121% of the median local household income ($39k/yr) (locally 3814% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $18k of value loss. Plan a longer hold.
• Clark County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($601k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 16y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $499k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $397,300 (34.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.65% ✗
• Cap rate: 5.47%
• Cash-on-cash: -2.93%
• DSCR: 0.87
• GRM: 12.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.51% rent growth · sell at horizon

5-year hold

• IRR: -21.7%
• Equity multiple: 0.25×
• Total profit: $-127,715
• Equity at exit: $90,953

10-year hold

• IRR: -16.7%
• Equity multiple: 0.09×
• Total profit: $-154,753
• Equity at exit: $52,742

Cash invested: $170,800 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 71 Landlord-Friendly
• State Nevada: 71 Landlord-Friendly · R+1
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit; Clark County (Vegas) had pandemic backlogs; generally landlord-friendly but courts slow.

Methodology + full state rankings →

ZIP-level market 89101

• Home prices YoY: -22.8%
• Rents YoY: 2.5%
• Active inventory: 188
• Price-to-rent: 51.2×

Monthly cashflow live

• Estimated rent: $3,973 high
• Mortgage (P&I): −$3,199
• Tax from tax record: −$103 /mo · $1,234/yr
• Insurance: −$254
• HOA: −$0
• Vacancy / Maint / Mgmt: −$834
• Net cashflow: $-417

Break-even live

Break-even rent $4,501

Max offer price $536,293

Occupancy floor —

Sensitivity live

Price	-10% $-72	-5% $-245	+0% $-417	+5% $-1,288	+10% $-1,498
Rent	-10% $-731	-5% $-574	+0% $-417	+5% $-260	+10% $-103
Rate	-1.0pp $-110	-0.5pp $-262	base $-417	+0.5pp $-575	+1.0pp $-736

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$3,972
Total (4 units)			$3,973

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $152,500
• Closing costs: $18,300
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1610 E Ogden Ave Las Vegas, NV	4.0	3.0	1787	$2,250	$1.26	8d	1	0.48mi
150 Las Vegas Blvd N Las Vegas, NV	1.0–3.0	1.5–2.5	1347	$3,500	$2.60	44d	7	0.71mi
150 Las Vegas Blvd N Las Vegas, NV	1.0–3.0	1.5–2.5	1405	$3,400	$2.42	8d	6	0.71mi
2213 Sunrise Ave Unit 1 Las Vegas, NV	3.0	2.0	1500	$1,249	$0.83	8d	1	0.81mi
1621 Franklin Ave Las Vegas, NV	3.0	2.0	2267	$3,300	$1.46	15d	1	1.16mi
1013 Francis Ave Las Vegas, NV	3.0	2.0	1904	$2,888	$1.52	45d	1	1.27mi
2017 Bracken Ave Las Vegas, NV	3.0	2.0	1414	$1,880	$1.33	11d	1	1.34mi
255 Promenade Pl Las Vegas, NV	3.0	1.0–3.5	1850	$3,295	$1.78	3d	266	1.42mi
2004 Howard Ave Las Vegas, NV	4.0	2.0	1975	$2,200	$1.11	5d	1	1.50mi

Listing history 31 events

1. 2026-06-18
   days on market $609,999 Active 30 DOM
2. 2026-06-17
   days on market $609,999 Active 29 DOM
3. 2026-06-16
   days on market $609,999 Active 28 DOM
4. 2026-06-15
   days on market $609,999 Active 27 DOM
5. 2026-06-13
   days on market $609,999 Active 25 DOM
6. 2026-06-09
   days on market $609,999 Active 21 DOM
7. 2026-06-08
   days on market $609,999 Active 20 DOM
8. 2026-06-07
   days on market $609,999 Active 19 DOM
9. 2026-06-03
   days on market $609,999 Active 15 DOM
10. 2026-06-02
    days on market $609,999 Active 14 DOM
11. 2026-06-01
    days on market $609,999 Active 13 DOM
12. 2026-05-31
    days on market $609,999 Active 12 DOM
13. 2026-05-18
    listed $609,999 Active
14. 2026-05-01
    historical
15. 2025-07-18
    listed $600,000 Active
16. 2022-07-01
    soldstatus $499,000 Closed 46-char remark

    Show marketing remark (46 chars)

    Great investment oppurtunity! DO NOT MISS OUT!

17. 2022-07-01
    soldstatus $499,000

    Show marketing remark (46 chars)

    Great investment oppurtunity! DO NOT MISS OUT!

18. 2022-05-25
    status Pending 46-char remark

    Show marketing remark (46 chars)

    Great investment oppurtunity! DO NOT MISS OUT!

19. 2022-05-12
    status Active 46-char remark

    Show marketing remark (46 chars)

    Great investment oppurtunity! DO NOT MISS OUT!

20. 2022-05-12
    price $499,000 46-char remark

    Show marketing remark (46 chars)

    Great investment oppurtunity! DO NOT MISS OUT!

21. 2022-02-04
    status Pending 46-char remark

    Show marketing remark (46 chars)

    Great investment oppurtunity! DO NOT MISS OUT!

22. 2022-01-20
    status Active 46-char remark

    Show marketing remark (46 chars)

    Great investment oppurtunity! DO NOT MISS OUT!

23. 2022-01-12
    historical Active Under Contract 46-char remark

    Show marketing remark (46 chars)

    Great investment oppurtunity! DO NOT MISS OUT!

24. 2022-01-12
    status Pending 46-char remark

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    Great investment oppurtunity! DO NOT MISS OUT!

25. 2021-12-22
    listed $429,999 Active 46-char remark

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    Great investment oppurtunity! DO NOT MISS OUT!

26. 2011-02-15
    historical
27. 2011-02-10
    soldstatus $42,000 Sold
28. 2011-01-05
    historical Contingent Offer
29. 2010-12-30
    listed $42,500 Exclusive Right
30. 2005-09-20
    soldstatus $292,000
31. 1979-09-28
    soldstatus $9,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NV · Resets to sale price

• Current annual tax: $1,234 · $103/mo
• Projected year-2 tax: $3,599 · $300/mo
• Expected delta: +$2,365/yr (+$197/mo · 191.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $47,676
• − Mortgage interest: −$34,169
• − Property taxes: −$1,234
• − Insurance: −$3,050
• − Repairs & maintenance: −$3,814
• − Management: −$3,814
• − Depreciation: −$17,745
• Taxable loss: −$16,151
• Est. tax savings @ 24.0%: +$3,876
• After-tax cash flow: $-1,131/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Clark County School District
• NCES district ID: 3200060
• Math proficiency: 21% ▼ -13.00%
• Reading proficiency: 39% ▼ -8.00%
• Median HH income: $53,611
• Composite: 26.48/100
• National rank: #7211
• State rank: #11 of 17 in NV

Livability — Las Vegas

• Score: 80/100
• State rank: #2
• US rank: #1723

Category grades

Amenities A+ Commute A+ Cost of living C+ Crime F Employment C Housing A+ Health & safety B+ User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Las Vegas, NV
• County: Clark County · 2,306,105 people
• City population: 1,643,591
• Metro: Las Vegas-Henderson-Paradise, NV
• Population (ZIP): 42,739
• Household income: $39,459
• Rent vs Own: 81.3% rent · 18.7% own
• Severe rent burden: 3814.0

Population outlook (Clark County) Hauer SSP2

• Today (2025): 2,504,101 people
• By 2030: 2,693,770 · +7.6%
• By 2040: 3,061,208 · +22.2%
• By 2050: 3,400,072 · +35.8%
• By 2075: 4,139,522 · +65.3%
• By 2100: 4,596,916 · +83.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Hispanic / Latino 57% Two or more races 19% White 19% Black 14% Asian 5% Native American 3%
• Hispanic origin (detail): Mexican 45% Puerto Rican 1% Cuban 1%
• Common ancestry: Lithuanian 1% Slovak 1% Italian 1%
• Foreign-born: 31% · Canada, China
• Languages at home: 47% English-only · Spanish 48% Tagalog/Filipino 2% Chinese 1%

Political lean MEDSL · Clark

• 2024 margin: Toss-up / Even · D 50.4% · R 47.8% · Other 1.7%
• 2008→2024 swing: -16.5pp toward R · 2008: 19.1pp · 2024: 2.6pp
• All cycles: 2024: D+2.6 2020: D+9.3 2016: D+10.7 2012: D+14.5 2008: D+19.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -90.49%
• Current HPI: 305.6227
• Rent YoY: ▲ 2.51%
• Metro: Las Vegas-Henderson-Paradise, NV
• State GDP YoY: ▲ 3.08%
• F500 in state: 6

Industry mix (Fortune 500 HQ in NV)

Industry	F500 HQs	Revenue
▸Hotels / Casinos	3	$36B

Price history

+6677.8% since first listed

19 events — show timeline

• 2026-05-18 Listed $609,999 GLVAR
• 2026-05-01 Listing Removed — GLVAR
• 2025-07-18 Listed $600,000 GLVAR
• 2022-07-01 Sold (Public Records) $499,000 Public Records
• 2022-07-01 Sold (MLS) $499,000 GLVAR
• 2022-05-25 Pending — GLVAR
• 2022-05-12 Relisted — GLVAR
• 2022-05-12 Price Changed $499,000 GLVAR
• 2022-02-04 Pending — GLVAR
• 2022-01-20 Relisted — GLVAR
• 2022-01-12 Contingent — GLVAR
• 2022-01-12 Pending — GLVAR
• 2021-12-22 Listed $429,999 GLVAR
• 2011-02-15 Listing Removed — GLVAR
• 2011-02-10 Sold (MLS) $42,000 GLVAR
• 2011-01-05 Contingent — GLVAR
• 2010-12-30 Listed $42,500 GLVAR
• 2005-09-20 Sold (Public Records) $292,000 Public Records
• 1979-09-28 Sold (Public Records) $9,000 Public Records

Property tax history

+0.3%/yr

Latest (2025): $1,234 · +7.8% YoY. Source: county tax records.