1532 County Rd · Minden, NV 89423

$390,000

4 bd · 2.0 ba · 1,464 sqft · MultiFamily public records · 4 Days on market

Built 1962 6,534 sqft lot ↓ 57% since listing

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Why this score? — see what drove the C+ 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 +26.6/30.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Two properties, two parcels packed in to one exceptional package! Rare investment opportunity in the heart of downtown Minden featuring two parcels being sold together: a 4-plex and duplex for a total of six income-producing units. Each unit offers a desirable 2-bedroom, 1-bath floor plan with approximately 753 sq ft, providing strong rental appeal and consistent demand. Tenants enjoy individual small storage units for added convenience. Units offer value-add potential for cosmetic improvements and increased returns. Current ownership has maintained steady occupancy, with upside in rents that presents an excellent opportunity for investors to enhance cash flow over time. Located near shoppi

Key facts

• Two parcels
• Value add potential
• Steady occupancy

Tags

• INVESTMENT OPPORTUNITY
• TWO PARCELS
• INCOME PRODUCING UNITS
• INDIVIDUAL SMALL STORAGE UNITS
• VALUE ADD POTENTIAL
• STEADY OCCUPANCY

Property features AI

Finance

• Other: Zoning: 300,320
• Financial info: Two-unit property with one unit vacant and one leased; One month-to-month unit; Owner pays common area maintenance, exterior maintenance, sewer, and trash collection

Exterior

• Parking: Common parking; Two parking spaces per unit
• Utilities: Public water; Public sewer; Water meters installed (separate meters by unit); Separate gas and electric meters for each unit; Electricity available and connected; Natural gas available and connected; Cable, phone, and internet available; Cellular coverage
• Home design: Duplex; Total building area approximately 1,464; Crawl space foundation
• Construction: Frame construction with wood siding; Composition roof; Built with crawl space foundation
• Exterior features: Partial fencing; Corner lot; Storage structure on site

Interior

• Kitchen: Electric oven
• Bedrooms: Two bedrooms total
• Flooring: Carpet; Vinyl
• Bathrooms: One bathroom total
• Heating & cooling: Natural gas heating
• Interior features: No interior steps; Aluminum window frames
• Laundry & utility: No in-unit laundry (none listed)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $390k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $521/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $390k).
• Cap rate 9.5% vs local median 2.4% in Minden — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 76/100 on livability (#9 in NV, #3,408 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A+, housing B+; Watch: amenities F, commute F, cost of living F.
• Douglas County School District (town): math 36% / reading 51% proficiency, ranked #3 of 17 in NV (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Minden Elementary School (math 57% / reading 57%, grade C+, #33 of 402 statewide, top 9%, 380 students, 25% FRL); Carson Valley Middle School (math 34% / reading 54%, grade D, #16 of 109 statewide, top 15%, 593 students, 24% FRL); Douglas High School (math 30% / reading 54%, grade F, #35 of 131 statewide, top 28%, 1,643 students, 22% FRL) — zoned schools at 24% FRL track the district average.
• Market conditions: 89 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 314 units permitted in Douglas County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Douglas County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $109k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $390,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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.
7. 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.
8. 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: 1.08% ✓
• Cap rate: 9.50%
• Cash-on-cash: 11.46%
• DSCR: 1.51
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 0.7%
• Equity multiple: 1.03×
• Total profit: $3,024
• Equity at exit: $58,150

10-year hold

• IRR: 10.3%
• Equity multiple: 1.80×
• Total profit: $87,400
• Equity at exit: $33,720

Cash invested: $109,200 (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 89423

• Active inventory: 89
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $4,227 medium
• Mortgage (P&I): −$2,045
• Tax from tax record: −$89 /mo · $1,069/yr
• Insurance: −$162
• HOA: −$0
• Vacancy / Maint / Mgmt: −$888
• Net cashflow: $1,043

Break-even live

Break-even rent $2,907

Max offer price $390,000

Occupancy floor 70%

Sensitivity live

Price	-10% $1,263	-5% $1,153	+0% $1,043	+5% $932	+10% $822
Rent	-10% $709	-5% $876	+0% $1,043	+5% $1,210	+10% $1,376
Rate	-1.0pp $1,239	-0.5pp $1,142	base $1,043	+0.5pp $942	+1.0pp $839

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$4,228
Total (2 units)			$4,227

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: $97,500
• Closing costs: $11,700
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1327 E Marion Russell Dr Gardnerville, NV	3.0	2.0	1252	$2,400	$1.92	13d	1	1.44mi

Listing history 5 events

1. 2026-06-19
   days on market $390,000 Active 4 DOM
2. 2026-06-18
   days on market $390,000 Active 3 DOM
3. 2026-06-17
   days on market $390,000 Active 2 DOM
4. 2026-06-16
   remarks 699-char remark
5. 2026-06-16
   listed $390,000 Active 1 DOM

ⓘ 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: $1,069 · $89/mo
• Projected year-2 tax: $2,301 · $192/mo
• Expected delta: +$1,232/yr (+$103/mo · 115.3%)

ⓘ 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 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥94°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 13 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $50,724
• − Mortgage interest: −$21,846
• − Property taxes: −$1,069
• − Insurance: −$1,950
• − Repairs & maintenance: −$4,058
• − Management: −$4,058
• − Depreciation: −$11,345
• Taxable income: $6,398
• Est. tax owed @ 24.0%: −$1,535
• After-tax cash flow: $10,975/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: Douglas County School District
• NCES district ID: 3200090
• Math proficiency: 36% ▼ -8.00%
• Reading proficiency: 51% ▼ -4.00%
• Median HH income: $59,850
• Composite: 38.28/100
• National rank: #4235
• State rank: #3 of 17 in NV

Livability — Minden

• Score: 76/100
• State rank: #9
• US rank: #3408

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Minden, NV
• Population (ZIP): 10,828

Population outlook (Douglas County) Hauer SSP2

• Today (2025): 48,884 people
• By 2030: 48,922 · +0.1%
• By 2040: 47,504 · -2.8%
• By 2050: 44,750 · -8.5%
• By 2075: 39,162 · -19.9%
• By 2100: 34,512 · -29.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 5% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 5% Slovak 5% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Douglas

• 2024 margin: Solid R (+32.9) · D 32.5% · R 65.3% · Other 2.1%
• 2008→2024 swing: -17.4pp toward R · 2008: -15.5pp · 2024: -32.9pp
• All cycles: 2024: R+32.9 2020: R+29.5 2016: R+32.1 2012: R+26.8 2008: R+15.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -204.04%
• Current HPI: 334.4133
• Rent YoY: —
• Metro: —
• 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

-57.0% since first listed

2 events — show timeline

• 2026-06-15 Listed $390,000 NNRMLS
• 2021-03-12 Sold (Public Records) $908,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $1,069 · +3.0% YoY. Source: county tax records.