867 N Lamb Blvd #81 · Las Vegas, NV 89110

$18,100

2 bd · 1.0 ba · 784 sqft · Manufactured · 202 Days on market

Built 2025

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.0/5.0
• Rent growth +2.9/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* THIS IS A RESALE LISTING * Three Crowns is an active and exciting 55+ Senior Community. Make your dream of home ownership a reality with this 2 bedroom, 1 bathroom home! With a spacious floor plan and a perfectly designed kitchen area, you will love entertaining guests and spending time with family here. In a community with amenities such as a clubhouse, community events, and a billiards room, there is something here for everyone to love. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

Key facts

• Built 2025
• Listed 202 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $18k.

Deal economics

• At list price, monthly cash flow is $880 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $18k).
• Recommended offer: $16k (12.0% below list) — sets the bar for market timing.

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.
• Zoned schools: Cambeiro Arturo Es (math 10% / reading 20%, grade F, #338 of 402 statewide, top 85%, 524 students, 100% FRL); Smith J D Ms (1,254 students, 100% FRL); Desert Pines Hs (math 5% / reading 20%, grade F, #116 of 131 statewide, top 88%, 3,151 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 14% at this address vs 30% district-wide (-16 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 rising (+1.8%/yr); 261 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; 14,754 units permitted in Clark County in 2024 (2,301 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $125 of loan paydown is wiped out by about $543 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.
• At projected returns (-3.0% appreciation + 1.8% rent growth), your $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 202 days — a 12% lower offer ($16k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $15,928 (12.0% below list)

Questions for the listing agent

1. It's been on market 202 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. 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?
5. 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?
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 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: 7.03% ✓
• Cap rate: 64.63%
• Cash-on-cash: 208.35%
• DSCR: 10.27
• GRM: 1.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.78% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 11.18×
• Total profit: $51,586
• Equity at exit: $2,699

10-year hold

• IRR: —
• Equity multiple: 22.90×
• Total profit: $110,984
• Equity at exit: $1,565

Cash invested: $5,068 (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 89110

• Rents YoY: 1.8%
• Active inventory: 261
• Price-to-rent: 1.2×

Monthly cashflow live

• Estimated rent: $1,272 high
• Mortgage (P&I): −$95
• Tax est. 1.5%: −$23 /mo · $272/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $880

Break-even live

Break-even rent $158

Max offer price $18,100

Occupancy floor 26%

Sensitivity live

Price	-10% $892	-5% $886	+0% $880	+5% $874	+10% $867
Rent	-10% $779	-5% $830	+0% $880	+5% $930	+10% $980
Rate	-1.0pp $889	-0.5pp $885	base $880	+0.5pp $875	+1.0pp $870

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: $4,525
• Closing costs: $543
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
917 Bridgewater St Las Vegas, NV	2.0	1.0	749	$1,050	$1.40	46d	1	0.13mi
4156 Abrams Ave Las Vegas, NV	3.0	2.0	1005	$1,700	$1.69	46d	1	0.17mi
870 Flagstone Way Las Vegas, NV	2.0	1.5	1102	$1,450	$1.32	26d	1	0.34mi
628 Triest Ct Apt D Las Vegas, NV	2.0	1.0	731	$950	$1.30	10d	1	0.37mi
882 Ripple Way Las Vegas, NV	2.0	1.5	1116	$1,499	$1.34	26d	1	0.37mi
1400 Henry Ave Unit D Las Vegas, NV	2.0	1.0	898	$915	$1.02	46d	1	0.38mi
1440 Jamielinn Ln #102 Las Vegas, NV	2.0	2.0	1047	$1,150	$1.10	6d	1	0.41mi
894 Rhinegold Way Las Vegas, NV	2.0	1.5	1116	$1,340	$1.20	46d	1	0.46mi
1111 N Lamb Blvd #125 Las Vegas, NV	2.0	2.0	1076	$1,299	$1.21	19d	1	0.47mi
1111 N Lamb Blvd Spc 188 Las Vegas, NV	3.0	2.0	1123	$1,349	$1.20	0d	1	0.47mi
1492 N Lamb Blvd Las Vegas, NV	1.0–2.0	1.0	739	$1,529	$2.07	0d	8	0.50mi
4302 Lynnann Dr Las Vegas, NV	2.0	1.5	952	$1,350	$1.42	46d	1	0.53mi
1517 Frank Aved St #202 Las Vegas, NV	2.0	2.0	895	$1,025	$1.15	17d	1	0.57mi
3961 Danny Melamed Ave #201 Las Vegas, NV	2.0	2.0	895	$999	$1.12	46d	1	0.58mi
3972 Danny Melamed Ave #102 Las Vegas, NV	2.0	2.0	895	$985	$1.10	46d	1	0.59mi
1401 N Lamb Blvd Las Vegas, NV	1.0–3.0	1.0–2.0	906	$1,392	$1.54	0d	15	0.59mi
3979 E Owens Ave Unit 115 Las Vegas, NV	1.0	1.0	600	$1,055	$1.76	20d	1	0.59mi
3956 Danny Melamed Ave #101 Las Vegas, NV	2.0	2.0	895	$1,050	$1.17	4d	1	0.61mi
3956 Danny Melamed Ave #101 Las Vegas, NV	2.0	2.0	895	$1,050	$1.17	10d	1	0.61mi
3980 E Owens Ave Unit 105 Las Vegas, NV	1.0	1.0	620	$1,200	$1.94	46d	1	0.62mi
3980 E Owens Ave Unit 206 Las Vegas, NV	2.0	2.0	880	$1,400	$1.59	46d	1	0.62mi
3980 E Owens Ave Unit 122 Las Vegas, NV	2.0	2.0	880	$1,450	$1.65	46d	1	0.62mi
3980 E Owens Ave Unit 109 Las Vegas, NV	1.0	1.0	620	$1,200	$1.94	46d	1	0.62mi
3980 E Owens Ave Unit 211 Las Vegas, NV	1.0	1.0	620	$1,200	$1.94	46d	1	0.62mi
4521 E Bonanza Rd Las Vegas, NV	1.0–2.0	1.0–2.0	897	$1,827	$2.04	0d	12	0.69mi
3700 E Bonanza Rd Las Vegas, NV	1.0–2.0	1.0–2.0	850	$1,163	$1.37	0d	9	0.70mi
824 Hedge Way #2 Las Vegas, NV	3.0	2.0	1022	$1,300	$1.27	24d	1	0.72mi
1700 N Lamb Blvd Las Vegas, NV	2.0	2.0	989	$1,475	$1.49	0d	3	0.74mi
571 Roxella Ln Unit C Las Vegas, NV	2.0	1.5	1008	$1,250	$1.24	46d	1	0.79mi
1001 N Pecos Rd Las Vegas, NV	1.0–3.0	1.0–2.0	875	$1,188	$1.36	5d	7	0.85mi
457 N Lamb Blvd Unit B Las Vegas, NV	1.0	1.0	599	$1,000	$1.67	22d	1	0.85mi
4160 E Tonopah Ave Unit 4160 Tonopah 115 Las Vegas, NV	2.0	1.0	803	$1,200	$1.49	24d	1	0.85mi
425 N Lamb Blvd Las Vegas, NV	1.0	1.0	599	$1,500	$2.50	46d	1	0.85mi
4220 E Tonopah Ave Apt 204 Las Vegas, NV	2.0	1.0	900	$1,000	$1.11	46d	1	0.86mi
405 N Lamb Blvd Las Vegas, NV	1.0	1.0	599	$1,000	$1.67	46d	1	0.87mi
4181 Terrestrial Ln Las Vegas, NV	2.0	1.0	803	$1,100	$1.37	46d	1	0.87mi
4181 Terrestrial Dr Unit 120 Las Vegas, NV	2.0	1.0	803	$1,050	$1.31	0d	1	0.87mi
4181 Terrestrial Dr Unit 120 Las Vegas, NV	2.0	1.0	803	$1,050	$1.31	46d	1	0.87mi
429 N Lamb Blvd Las Vegas, NV	1.0	1.0	599	$1,500	$2.50	46d	1	0.88mi
3630 E Owens Ave Las Vegas, NV	2.0–4.0	1.0–2.0	999	$900	$0.90	0d	27	0.88mi

Listing history 4 events

1. 2026-06-02
   days on market $18,100 Active 202 DOM
2. 2026-06-01
   days on market $18,100 Active 201 DOM
3. 2026-05-31
   days on market $18,100 Active 200 DOM
4. 2025-11-12
   listed $18,100 Active 592-char remark

   Show marketing remark (592 chars)

   * THIS IS A RESALE LISTING * Three Crowns is an active and exciting 55+ Senior Community. Make your dream of home ownership a reality with this 2 bedroom, 1 bathroom home! With a spacious floor plan and a perfectly designed kitchen area, you will love entertaining guests and spending time with family here. In a community with amenities such as a clubhouse, community events, and a billiards room, there is something here for everyone to love. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

ⓘ 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

• 🌡 Heat 8/10 Severe
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,266
• − Mortgage interest: −$1,014
• − Property taxes: −$272
• − Insurance: −$90
• − Repairs & maintenance: −$1,221
• − Management: −$1,221
• − Depreciation: −$527
• Taxable income: $10,921
• Est. tax owed @ 24.0%: −$2,621
• After-tax cash flow: $7,938/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): 69,107
• Household income: $61,001
• Rent vs Own: 45.5% rent · 54.5% own
• Severe rent burden: 3134.0

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 0.55)
• Race & ethnicity: Hispanic / Latino 63% White 20% Two or more races 18% Black 8% Asian 5% Native American 2%
• Hispanic origin (detail): Mexican 52% Cuban 3%
• Common ancestry: Lithuanian 1% Italian 1% Romanian 1%
• Foreign-born: 31% · Canada
• Languages at home: 42% English-only · Spanish 53% Tagalog/Filipino 2% Other Asian/Pacific 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: ▼ -165.11%
• Current HPI: 299.1815
• Rent YoY: ▲ 1.78%
• 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

1 event — show timeline

• 2025-11-12 Listed $18,100 Zillow