204 Sundance Shores Dr · Laughlin, NV 89029

$199,990

3 bd · 2.0 ba · 1,720 sqft · Townhouse public records · 83 Days on market

Built 1975 1,742 sqft lot $116/sqft · 62% below area $250/mo HOA · 14% of rent

---

Why this score? — see what drove the D- 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 +11.2/30.0
• ARV discount +7.5/15.0
• 1% rule +3.8/10.0
• Livability +3.7/5.0
• DSCR +3.3/10.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +1.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 3 bedroom , 2 bathroom home is your chance to create something truly special just minutes from the energy of Laughlin’s casino corridor. Whether you're investing, renovating, or building your perfect getaway, this property is packed with potential. Step inside and feel the impact of soaring ceilings in the dramatic living room that flows into a flexible loft space above. Downstairs, two bedrooms open directly to a private patio. Upstairs, leads to your primary suite retreat, complete with views overlooking the casinos and city lights. The loft is light, bright, and ready for anything home office, game room, lounge, or creative studio. This is your chance to own in one of the closest communities to all the action, casinos, dining, entertainment, and the Colorado River all just minutes away. Bring your vision. Build your value. Live the lifestyle welcome to Laughlin.

Key facts

• Soaring ceilings
• Private patio
• Flexible loft space

Tags

• SOARING CEILINGS
• PRIVATE PATIO
• VIEWS OVERLOOKING CASINOS
• FLEXIBLE LOFT SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $200k.

Deal economics

• At list price, monthly cash flow is $-78 ($-942/yr) — negative.
• To cash-flow at today's rent, offer at most $186k (6.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $176k (12.1% below list).
• Recommended offer: $176k (12.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 73/100 on livability (#17 in NV) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A-; Watch: health & safety C-, crime D+, amenities 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.
• Zoned schools: Bennett William G Es (math 8% / reading 22%, grade F, #344 of 402 statewide, top 87%, 368 students, 100% FRL); Laughlin J-Shs (math 8% / reading 22%, grade F, #112 of 131 statewide, top 86%, 395 students, 100% FRL) — zoned schools average 100% FRL vs 52% district-wide (48 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 15% at this address vs 30% district-wide (-15 pts) — the specific schools serving this property underperform the Clark County School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents falling (-4.6%/yr); 208 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 14,754 units permitted in Clark County in 2024 (2,301 in 5+ unit buildings).
• At $1,757/mo this rent would consume 46% of the median local household income ($46k/yr) (locally 763% 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 $1k of loan paydown is wiped out by about $6k 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 83 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $115k; list at $200k implies a 74% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $175,717 (12.1% 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. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. Crime grade is D 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?
9. 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?
10. 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.
11. 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.
12. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.88% ✗
• Cap rate: 5.82%
• Cash-on-cash: -1.68%
• DSCR: 0.93
• GRM: 9.5

CMA / ARV

• ARV (median comp): $525,235
• List price: $199,990
• Delta: -61.92%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
251 Moser Ave #203	0.39mi	3/2.0	1,631 (-5%)	7mo	$522,000	$320	67
251 Moser Ave #7	0.39mi	3/2.0	1,631 (-5%)	9mo	$510,000	$313	66
211 Moser Ave #104	0.39mi	3/2.0	1,610 (-6%)	7mo	$525,000	$326	65
231 Moser Ave Unit G	0.37mi	3/2.0	1,569 (-9%)	10mo	$539,900	$344	60
231 Moser Avenue, Condo F Ave Unit (Unit 5)	0.38mi	3/2.0	1,550 (-10%)	9mo	$530,000	$342	58
231 Moser Ave Unit B	0.37mi	3/2.0	1,549 (-10%)	11mo	$515,000	$332	57
231 Moser Ave Unit 3B	0.38mi	3/2.0	1,549 (-10%)	15mo	$569,900	$368	53
231 Moser Ave Unit 1D	0.37mi	3/2.0	1,569 (-9%)	19mo	$520,000	$331	52
211 Moser Ave Unit R1	0.39mi	3/2.0	1,610 (-6%)	23mo	$449,000	$279	52
251 Moser Ave #201	0.39mi	2/2.0 (-1)	1,526 (-11%)	11mo	$405,000	$265	49
251 Moser Ave #110 Ave	0.40mi	2/2.0 (-1)	1,526 (-11%)	12mo	$420,000	$275	48

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -22.7%
• Equity multiple: 0.24×
• Total profit: $-42,475
• Equity at exit: $29,819

10-year hold

• IRR: -28.2%
• Equity multiple: -0.13×
• Total profit: $-63,004
• Equity at exit: $17,291

Cash invested: $55,997 (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 89029

• Home prices YoY: -10.2%
• Rents YoY: -4.6%
• Active inventory: 208
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,757 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$85 /mo · $1,014/yr
• Insurance: −$83
• HOA: −$250
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $-78

Break-even live

Break-even rent $1,856

Max offer price $186,129

Occupancy floor 99%

Sensitivity live

Price	-10% $35	-5% $-22	+0% $-78	+5% $-135	+10% $-192
Rent	-10% $-217	-5% $-148	+0% $-78	+5% $-9	+10% $60
Rate	-1.0pp $22	-0.5pp $-28	base $-78	+0.5pp $-130	+1.0pp $-183

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: $49,998
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
188 Sundance Shores Dr Laughlin, NV	4.0	2.0	1482	$1,600	$1.08	9d	1	0.09mi
168 Sundance Shores Dr Laughlin, NV	3.0	2.0	1482	$1,400	$0.94	45d	1	0.13mi
231 Moser Ave Unit 3F 1 Bullhead City, AZ	3.0	2.0	1555	$2,700	$1.74	15d	1	0.37mi
211 Moser Ave Bullhead City, AZ	3.0	2.0	1610	$2,800	$1.74	15d	1	0.37mi
2447 Rio Dr Unit 1545726P Bullhead City, AZ	3.0	2.0	1399	$3,090	$2.21	15d	1	0.76mi

HOA detail

• Monthly dues: $250 · $3,000/yr

Listing history 18 events

1. 2026-06-21
   days on market $199,990 Active 83 DOM
2. 2026-06-18
   days on market $199,990 Active 80 DOM
3. 2026-06-17
   days on market $199,990 Active 79 DOM
4. 2026-06-16
   days on market $199,990 Active 78 DOM
5. 2026-06-15
   days on market $199,990 Active 77 DOM
6. 2026-06-13
   days on market $199,990 Active 75 DOM
7. 2026-06-09
   days on market $199,990 Active 71 DOM
8. 2026-06-08
   days on market $199,990 Active 70 DOM
9. 2026-06-07
   days on market $199,990 Active 69 DOM
10. 2026-06-03
    days on market $199,990 Active 65 DOM
11. 2026-06-02
    days on market $199,990 Active 64 DOM
12. 2026-06-01
    days on market $199,990 Active 63 DOM
13. 2026-05-31
    days on market $199,990 Active 62 DOM
14. 2026-03-30
    listed $209,990 Active 888-char remark

    Show marketing remark (888 chars)

    This 3 bedroom , 2 bathroom home is your chance to create something truly special just minutes from the energy of Laughlin’s casino corridor. Whether you're investing, renovating, or building your perfect getaway, this property is packed with potential. Step inside and feel the impact of soaring ceilings in the dramatic living room that flows into a flexible loft space above. Downstairs, two bedrooms open directly to a private patio. Upstairs, leads to your primary suite retreat, complete with views overlooking the casinos and city lights. The loft is light, bright, and ready for anything home office, game room, lounge, or creative studio. This is your chance to own in one of the closest communities to all the action, casinos, dining, entertainment, and the Colorado River all just minutes away. Bring your vision. Build your value. Live the lifestyle welcome to Laughlin.

15. 2024-04-24
    soldstatus $115,000
16. 1988-04-15
    soldstatus $46,500
17. 1983-09-23
    soldstatus $54,500
18. 1983-09-23
    soldstatus $54,500

ⓘ 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: $1,014 · $85/mo
• Projected year-2 tax: $1,180 · $98/mo
• Expected delta: +$166/yr (+$14/mo · 16.3%)

ⓘ 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 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥114°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,086
• − Mortgage interest: −$11,203
• − Property taxes: −$1,014
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,687
• − Management: −$1,687
• − HOA: −$3,000
• − Depreciation: −$5,818
• Taxable loss: −$4,322
• Est. tax savings @ 24.0%: +$1,037
• After-tax cash flow: $96/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 — Laughlin

• Score: 73/100
• State rank: #17
• US rank: #5380

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Laughlin, NV
• County: Clark County · 2,306,105 people
• City population: 9,132
• Metro: Las Vegas-Henderson-Paradise, NV
• Population (ZIP): 9,132
• Household income: $46,294
• Rent vs Own: 48.1% rent · 51.9% own
• Severe rent burden: 763.0

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: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 16% Two or more races 12% Black 4%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1%
• Common ancestry: Romanian 2% Scotch-Irish 2% Iranian 2%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 4% German/W. Germanic 1% French/Haitian/Cajun 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: ▼ -25.77%
• Current HPI: 227.0099
• Rent YoY: ▼ -4.60%
• 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

+285.3% since first listed

5 events — show timeline

• 2026-03-30 Listed $209,990 GLVAR
• 2024-04-24 Sold (Public Records) $115,000 Public Records
• 1988-04-15 Sold (Public Records) $46,500 Public Records
• 1983-09-23 Sold (Public Records) $54,500 Public Records
• 1983-09-23 Sold (Public Records) $54,500 Public Records

Property tax history

-1.0%/yr

Latest (2025): $1,014 · -8.1% YoY. Source: county tax records.