202 Sierra Nevada Ln · Carson City, NV 89706

$132,510

2 bd · 2.0 ba · 900 sqft · Manufactured · 161 Days on market

Built 2025 Good condition $147/sqft · 49% below area Est $262k · 49% under ↓ 2% since listing

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Why this score? — see what drove the B- 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 +24.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.9/10.0
• 1% rule +6.3/10.0
• Condition / age +4.0/5.0
• Livability +3.6/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Brand New, modern, Energy Star certified home in a highly sought-after senior 55+ park. The open floor plan features stainless steel Samsung appliances designed for energy efficiency and comfort, complemented by low-E windows, a smart thermostat, and 2x6 exterior walls with added insulation to help lower utility bills. New air conditioner. Includes a 1-year limited factory warranty and a 1-year appliance warranty. Schedule your showing today! Star West will meet or beat any price from a local dealer on a new home. Ask me about personal-choice floor plans we can bring to vacant lots in the region. Call, text, email, or DM ~ Hablamos Español ~ Kyle C. Miller [email protected] 775-830-7780 NV Lic D1360

Key facts

• Open floor plan
• Low-e windows
• Walk-in shower

Tags

• ENERGY STAR CERTIFIED
• OPEN FLOOR PLAN
• WALK-IN SHOWER
• LOW-E WINDOWS
• SMART THERMOSTAT
• 2X6 EXTERIOR WALLS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $133k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $272 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $133k).
• Recommended offer: $117k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 2.4% in Carson City — 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 71/100 on livability (#25 in NV) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety B+; Watch: commute C-, amenities F.
• Carson City School District (urban): math 27% / reading 41% proficiency, ranked #7 of 17 in NV (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Fremont Elementary (math 32% / reading 28%, grade F, #187 of 402 statewide, top 48%, 578 students, 100% FRL); Carson Middle School (math 24% / reading 44%, grade F, #35 of 109 statewide, top 33%, 886 students, 100% FRL); Carson High School (math 22% / reading 49%, grade F, #48 of 131 statewide, top 36%, 2,289 students, 39% FRL) — zoned schools average 80% FRL vs 45% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 37 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 264 units permitted in Carson City in 2024 (81 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $916 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Carson City County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 161 days — a 12% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

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

Recommended offer $116,608 (12.0% below list)

Questions for the listing agent

1. It's been on market 161 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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.
6. 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.
7. 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: 1.13% ✓
• Cap rate: 8.76%
• Cash-on-cash: 8.80%
• DSCR: 1.39
• GRM: 7.3

CMA / ARV

• ARV (median comp): $262,184
• List price: $132,510
• Delta: -49.46%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3029 Sherman Ln	0.66mi	2/1.0	840 (-7%)	2mo	$182,000	$217	53
2620 Concord Dr	0.50mi	3/2.0 (+1)	940 (+4%)	24mo	$335,000	$356	44

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.9%
• Equity multiple: 0.89×
• Total profit: $-4,113
• Equity at exit: $19,758

10-year hold

• IRR: 6.8%
• Equity multiple: 1.51×
• Total profit: $18,834
• Equity at exit: $11,457

Cash invested: $37,103 (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 89706

• Active inventory: 37
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,504 high
• Mortgage (P&I): −$695
• Tax est. 1.5%: −$166 /mo · $1,988/yr
• Insurance: −$55
• HOA: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $272

Break-even live

Break-even rent $1,159

Max offer price $132,510

Occupancy floor 77%

Sensitivity live

Price	-10% $364	-5% $318	+0% $272	+5% $226	+10% $181
Rent	-10% $153	-5% $213	+0% $272	+5% $332	+10% $391
Rate	-1.0pp $339	-0.5pp $306	base $272	+0.5pp $238	+1.0pp $203

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: $33,128
• Closing costs: $3,975
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1800 Russell Way Carson City, NV	1.0–2.0	1.0	740	$1,467	$1.98	45d	1	0.86mi
1820 Russell Way Carson City, NV	1.0–2.0	1.0	715	$1,042	$1.46	25d	1	0.90mi
1549 N Lompa Ln Carson City, NV	1.0	1.0	625	$1,312	$2.10	15d	4	1.12mi
1841 E Long St Unit 6 Carson City, NV	2.0	1.0	864	$1,350	$1.56	45d	1	1.13mi
1825 E Long St Unit 7 Carson City, NV	2.0	1.0	864	$1,350	$1.56	45d	1	1.15mi
2890 Menlo Dr Carson City, NV	2.0	1.0	750	$1,350	$1.80	25d	1	1.18mi
3426 Woodside Dr Apt 4 Carson City, NV	2.0	1.0	780	$1,500	$1.92	45d	1	1.27mi
4186 Sherman Ln Carson City, NV	2.0	2.0	1100	$2,200	$2.00	45d	1	1.28mi
2021 Lone Mountain Dr Carson City, NV	2.0	1.0	650	$1,342	$2.07	45d	1	1.33mi
1101 Beverly Dr Carson City, NV	1.0–2.0	1.0	700	$1,263	$1.80	45d	1	1.34mi
3230 Imperial Way Carson City, NV	1.0	1.0	595	$1,271	$2.14	45d	3	1.49mi
404 Lee St Apt 1 Carson City, NV	2.0	1.0	710	$1,500	$2.11	45d	1	1.50mi

Listing history 23 events

1. 2026-06-21
   days on market $132,510 Active 161 DOM
2. 2026-06-19
   days on market $132,510 Active 159 DOM
3. 2026-06-18
   days on market $132,510 Active 158 DOM
4. 2026-06-17
   price $132,510 Active 157 DOM
5. 2026-06-17
   days on market $132,500 Active 157 DOM
6. 2026-06-16
   days on market $132,500 Active 156 DOM
7. 2026-06-15
   days on market $132,500 Active 155 DOM
8. 2026-06-14
   days on market $132,500 Active 153 DOM
9. 2026-06-13
   days on market $132,500 Active 152 DOM
10. 2026-06-10
    days on market $132,500 Active 150 DOM
11. 2026-06-09
    days on market $132,500 Active 149 DOM
12. 2026-06-08
    days on market $132,500 Active 148 DOM
13. 2026-06-07
    days on market $132,500 Active 147 DOM
14. 2026-06-05
    days on market $132,500 Active 144 DOM
15. 2026-06-03
    days on market $132,500 Active 143 DOM
16. 2026-06-02
    days on market $132,500 Active 142 DOM
17. 2026-06-01
    days on market $132,500 Active 141 DOM
18. 2026-05-31
    days on market $132,500 Active 140 DOM
19. 2026-05-30
    days on market $132,500 Active 139 DOM
20. 2026-03-19
    price $132,500 720-char remark

    Show marketing remark (720 chars)

    Brand New, modern, Energy Star certified home in a highly sought-after senior 55+ park. The open floor plan features stainless steel Samsung appliances designed for energy efficiency and comfort, complemented by low-E windows, a smart thermostat, and 2x6 exterior walls with added insulation to help lower utility bills. New air conditioner. Includes a 1-year limited factory warranty and a 1-year appliance warranty. Schedule your showing today! Star West will meet or beat any price from a local dealer on a new home. Ask me about personal-choice floor plans we can bring to vacant lots in the region. Call, text, email, or DM ~ Hablamos Español ~ Kyle C. Miller [email protected] 775-830-7780 NV Lic D1360

21. 2026-02-08
    status Active 720-char remark

    Show marketing remark (720 chars)

    Brand New, modern, Energy Star certified home in a highly sought-after senior 55+ park. The open floor plan features stainless steel Samsung appliances designed for energy efficiency and comfort, complemented by low-E windows, a smart thermostat, and 2x6 exterior walls with added insulation to help lower utility bills. New air conditioner. Includes a 1-year limited factory warranty and a 1-year appliance warranty. Schedule your showing today! Star West will meet or beat any price from a local dealer on a new home. Ask me about personal-choice floor plans we can bring to vacant lots in the region. Call, text, email, or DM ~ Hablamos Español ~ Kyle C. Miller [email protected] 775-830-7780 NV Lic D1360

22. 2025-11-21
    historical 720-char remark

    Show marketing remark (720 chars)

    Brand New, modern, Energy Star certified home in a highly sought-after senior 55+ park. The open floor plan features stainless steel Samsung appliances designed for energy efficiency and comfort, complemented by low-E windows, a smart thermostat, and 2x6 exterior walls with added insulation to help lower utility bills. New air conditioner. Includes a 1-year limited factory warranty and a 1-year appliance warranty. Schedule your showing today! Star West will meet or beat any price from a local dealer on a new home. Ask me about personal-choice floor plans we can bring to vacant lots in the region. Call, text, email, or DM ~ Hablamos Español ~ Kyle C. Miller [email protected] 775-830-7780 NV Lic D1360

23. 2025-10-23
    listed $134,900 Active 720-char remark

    Show marketing remark (720 chars)

    Brand New, modern, Energy Star certified home in a highly sought-after senior 55+ park. The open floor plan features stainless steel Samsung appliances designed for energy efficiency and comfort, complemented by low-E windows, a smart thermostat, and 2x6 exterior walls with added insulation to help lower utility bills. New air conditioner. Includes a 1-year limited factory warranty and a 1-year appliance warranty. Schedule your showing today! Star West will meet or beat any price from a local dealer on a new home. Ask me about personal-choice floor plans we can bring to vacant lots in the region. Call, text, email, or DM ~ Hablamos Español ~ Kyle C. Miller [email protected] 775-830-7780 NV Lic D1360

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 4/10 Moderate 7 d/yr ≥92°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 14 unhealthy d/yr today · 17 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,045
• − Mortgage interest: −$7,423
• − Property taxes: −$1,988
• − Insurance: −$663
• − Repairs & maintenance: −$1,444
• − Management: −$1,444
• − Depreciation: −$3,855
• Taxable income: $1,230
• Est. tax owed @ 24.0%: −$295
• After-tax cash flow: $2,971/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.

Condition & rehab AI · 12 photos

Good 80/100 None rehab

This modern, Energy Star certified manufactured home in a senior park is in excellent condition with no visible repairs needed. It offers a good return on investment with updates that can further enhance its resale and rental value.

Value-add opportunities

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and property value
• Resale Replace window treatments — Modern window treatments can improve the home's aesthetic
• Both Install smart home devices — Smart home devices can increase convenience and energy efficiency, appealing to buyers and renters

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and property value ↑
• Resale Replace window treatments — Modern window treatments can improve the home's aesthetic ↑
• Both Install smart home devices — Smart home devices can increase convenience and energy efficiency, appealing to buyers and renters ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Carson City School District
• NCES district ID: 3200390
• Math proficiency: 27% ▼ -7.00%
• Reading proficiency: 41% ▼ -2.00%
• Median HH income: $50,437
• Composite: 29.51/100
• National rank: #6502
• State rank: #7 of 17 in NV

Livability — Carson City

• Score: 71/100
• State rank: #25
• US rank: #7307

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carson City, NV
• County: Carson City · 59,982 people
• City population: 59,982
• Metro: Carson City, NV
• Population (ZIP): 20,478
• Household income: $62,815
• Rent vs Own: 40.0% rent · 60.0% own
• Severe rent burden: 585.0

Population outlook (Carson City County) Hauer SSP2

• Today (2025): 53,423 people
• By 2030: 52,474 · -1.8%
• By 2040: 50,098 · -6.2%
• By 2050: 47,664 · -10.8%
• By 2075: 43,925 · -17.8%
• By 2100: 38,752 · -27.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (58%)
• Race & ethnicity: White 58% Hispanic / Latino 35% Two or more races 13% Asian 2%
• Hispanic origin (detail): Mexican 28%
• Common ancestry: Lithuanian 2% Slovak 2% Romanian 2%
• Foreign-born: 15% · Canada, Jamaica
• Languages at home: 73% English-only · Spanish 25% Tagalog/Filipino 1% Other Indo-European 1%

Political lean MEDSL · Carson City

• 2024 margin: R (+11.3) · D 43.0% · R 54.3% · Other 2.6%
• 2008→2024 swing: -12.1pp toward R · 2008: 0.9pp · 2024: -11.3pp
• All cycles: 2024: R+11.3 2020: R+11.4 2016: R+14.1 2012: R+9.0 2008: D+0.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -197.60%
• Current HPI: 346.25
• Rent YoY: —
• Metro: Carson City, 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

-1.8% since first listed

4 events — show timeline

• 2026-03-19 Price Changed $132,500 Fizber.com
• 2026-02-08 Relisted — Fizber.com
• 2025-11-21 Delisted — Fizber.com
• 2025-10-23 Listed $134,900 Fizber.com