5346 Swenson St #35 · Paradise, NV 89119

$150,000

2 bd · 2.0 ba · 862 sqft · Condo · 541 Days on market

Built 1976 Good condition $310/mo HOA · 18% of rent ↓ 11% since listing

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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 +12.6/30.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• DSCR +3.8/10.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Schools +2.6/10.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment or primary residence opportunity. Very well maintained 2 bedroom 2 full bath ground floor condo. Granite counters, in unit washer and dryer, primary suite with walk in closet. Location, Location Location! 5 minutes to Harry Reid International Airport, walking distance to UNLV, shopping dining and the Las Vegas Strip!

Key facts

• $310 HOA
• Parking
• Community pool

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $150k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-19 ($-224/yr) — negative.
• To cash-flow at today's rent, offer at most $147k (1.8% below list).
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#10 in NV, #3,494 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A-, cost of living B; Watch: employment D+, schools F, crime D-.
• 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 soft (-1.8%/yr); 199 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 73% 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).
• This rent runs 43% of the median local income ($47k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 541 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask is 10245% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $132,000 (12.0% 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 541 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 1976 — 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 1.12% ✓
• Cap rate: 6.14%
• Cash-on-cash: -0.53%
• DSCR: 0.98
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -21.5%
• Equity multiple: 0.28×
• Total profit: $-30,207
• Equity at exit: $22,365

10-year hold

• IRR: -28.9%
• Equity multiple: -0.10×
• Total profit: $-45,998
• Equity at exit: $12,969

Cash invested: $42,000 (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 89119

• Rents YoY: -1.8%
• Active inventory: 199
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,681 high
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$310
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $-19

Break-even live

Break-even rent $1,705

Max offer price $147,294

Occupancy floor 96%

Sensitivity live

Price	-10% $85	-5% $33	+0% $-19	+5% $-71	+10% $-122
Rent	-10% $-151	-5% $-85	+0% $-19	+5% $48	+10% $114
Rate	-1.0pp $57	-0.5pp $19	base $-19	+0.5pp $-58	+1.0pp $-97

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5187 Caliente St #96 Las Vegas, NV	2.0	2.0	994	$1,595	$1.60	44d	1	0.89mi
4700 S Maryland Pkwy Las Vegas, NV	1.0	1.0	409	$1,382	$3.37	44d	48	0.89mi
1635 E Tropicana Ave Las Vegas, NV	3.0	1.0–3.0	832	$2,085	$2.50	3d	68	0.99mi
5045 Spencer St Unit B Las Vegas, NV	2.0	1.5	828	$1,610	$1.94	44d	1	1.02mi
1577 Elizabeth Ave #1 Las Vegas, NV	2.0	2.0	1064	$1,600	$1.50	44d	1	1.04mi
1481 Lorilyn Ave #4 Las Vegas, NV	1.0	1.0	792	$1,835	$2.32	44d	1	1.05mi
4674 Monterey Cir #1 Las Vegas, NV	2.0	1.0	1000	$1,750	$1.75	44d	1	1.15mi
4801 Spencer St Las Vegas, NV	1.0–3.0	1.0–2.0	1072	$1,548	$1.44	44d	14	1.15mi
205 E Harmon Ave Las Vegas, NV	1.0–2.0	1.5–2.0	1182	$1,950	$1.65	44d	5	1.38mi
1061 E Flamingo Rd Las Vegas, NV	1.0–2.0	1.0–2.0	967	$2,203	$2.28	15d	35	1.45mi
145 E Harmon Ave Unit 1332448P Las Vegas, NV	1.0	1.0	548	$3,796	$6.93	2d	1	1.46mi

HOA detail condo

• Monthly dues: $310 · $3,720/yr
• Likely covers: gas
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-18
   days on market $150,000 Active 541 DOM
2. 2026-06-17
   days on market $150,000 Active 540 DOM
3. 2026-06-16
   days on market $150,000 Active 539 DOM
4. 2026-06-15
   days on market $150,000 Active 538 DOM
5. 2026-06-13
   days on market $150,000 Active 536 DOM
6. 2026-06-09
   days on market $150,000 Active 532 DOM
7. 2026-06-08
   days on market $150,000 Active 531 DOM
8. 2026-06-08
   days on market $150,000 Active 530 DOM
9. 2026-06-03
   days on market $150,000 Active 526 DOM
10. 2026-06-02
    days on market $150,000 Active 525 DOM
11. 2026-06-01
    days on market $150,000 Active 524 DOM
12. 2026-05-31
    days on market $150,000 Active 523 DOM
13. 2025-11-19
    status Active 335-char remark

    Show marketing remark (335 chars)

    Great investment or primary residence opportunity. Very well maintained 2 bedroom 2 full bath ground floor condo. Granite counters, in unit washer and dryer, primary suite with walk in closet. Location, Location Location! 5 minutes to Harry Reid International Airport, walking distance to UNLV, shopping dining and the Las Vegas Strip!

14. 2025-11-19
    price $150,000 335-char remark

    Show marketing remark (335 chars)

    Great investment or primary residence opportunity. Very well maintained 2 bedroom 2 full bath ground floor condo. Granite counters, in unit washer and dryer, primary suite with walk in closet. Location, Location Location! 5 minutes to Harry Reid International Airport, walking distance to UNLV, shopping dining and the Las Vegas Strip!

15. 2025-11-09
    price $1,350
16. 2025-10-08
    listed $1,450
17. 2025-08-25
    historical 335-char remark

    Show marketing remark (335 chars)

    Great investment or primary residence opportunity. Very well maintained 2 bedroom 2 full bath ground floor condo. Granite counters, in unit washer and dryer, primary suite with walk in closet. Location, Location Location! 5 minutes to Harry Reid International Airport, walking distance to UNLV, shopping dining and the Las Vegas Strip!

18. 2025-02-12
    price $165,000 335-char remark

    Show marketing remark (335 chars)

    Great investment or primary residence opportunity. Very well maintained 2 bedroom 2 full bath ground floor condo. Granite counters, in unit washer and dryer, primary suite with walk in closet. Location, Location Location! 5 minutes to Harry Reid International Airport, walking distance to UNLV, shopping dining and the Las Vegas Strip!

19. 2025-02-12
    status Active 335-char remark

    Show marketing remark (335 chars)

    Great investment or primary residence opportunity. Very well maintained 2 bedroom 2 full bath ground floor condo. Granite counters, in unit washer and dryer, primary suite with walk in closet. Location, Location Location! 5 minutes to Harry Reid International Airport, walking distance to UNLV, shopping dining and the Las Vegas Strip!

20. 2025-01-24
    historical 335-char remark

    Show marketing remark (335 chars)

    Great investment or primary residence opportunity. Very well maintained 2 bedroom 2 full bath ground floor condo. Granite counters, in unit washer and dryer, primary suite with walk in closet. Location, Location Location! 5 minutes to Harry Reid International Airport, walking distance to UNLV, shopping dining and the Las Vegas Strip!

21. 2024-09-07
    listed $169,000 Active 335-char remark

    Show marketing remark (335 chars)

    Great investment or primary residence opportunity. Very well maintained 2 bedroom 2 full bath ground floor condo. Granite counters, in unit washer and dryer, primary suite with walk in closet. Location, Location Location! 5 minutes to Harry Reid International Airport, walking distance to UNLV, shopping dining and the Las Vegas Strip!

ⓘ 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 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,171
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$1,614
• − Management: −$1,614
• − HOA: −$3,720
• − Depreciation: −$4,364
• Taxable loss: −$2,542
• Est. tax savings @ 24.0%: +$610
• After-tax cash flow: $386/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 · 6 photos

Good 75/100 Cosmetic rehab

A well-maintained 2-bedroom condo with good curb appeal and fresh interior paint. Minor repairs and upgrades would significantly enhance its value.

Repairs flagged

• Minor Pool liner — Some wear visible
• Minor Pool pump — No visible damage

Value-add opportunities

• Both Paint exterior and interior — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace pool liner — Fresh liner improves water quality and pool appearance
• Both Upgrade HVAC system — Modern HVAC system improves comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
Pool liner · Some wear visible	Minor	$500–3,000
Pool pump · No visible damage	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint exterior and interior — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace pool liner — Fresh liner improves water quality and pool appearance ↑
• Both Upgrade HVAC system — Modern HVAC system improves comfort and energy efficiency ↑

ⓘ 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: 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 — Paradise

• Score: 76/100
• State rank: #10
• US rank: #3494

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Paradise, NV
• County: Clark County · 2,306,105 people
• City population: 227,885
• Metro: Las Vegas-Henderson-Paradise, NV
• Population (ZIP): 50,196
• Household income: $46,960
• Rent vs Own: 77.2% rent · 22.8% own
• Severe rent burden: 4678.0

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: Highly diverse neighborhood (Simpson 0.74)
• Race & ethnicity: Hispanic / Latino 38% White 29% Two or more races 18% Black 13% Asian 11%
• Hispanic origin (detail): Mexican 23% Puerto Rican 1% Cuban 4%
• Common ancestry: Romanian 2% Lithuanian 1% Scotch-Irish 1%
• Foreign-born: 31% · Canada, China, Jamaica
• Languages at home: 57% English-only · Spanish 29% Tagalog/Filipino 6% Other Indo-European 3%

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: ▼ -221.72%
• Current HPI: 266.4892
• Rent YoY: ▼ -1.81%
• 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

-11.2% since first listed

9 events — show timeline

• 2025-11-19 Relisted — GLVAR
• 2025-11-19 Price Changed $150,000 GLVAR
• 2025-11-09 Price Changed $1,350 GLVAR
• 2025-10-08 Listed for Rent $1,450 GLVAR
• 2025-08-25 Listing Removed — GLVAR
• 2025-02-12 Price Changed $165,000 GLVAR
• 2025-02-12 Relisted — GLVAR
• 2025-01-24 Listing Removed — GLVAR
• 2024-09-07 Listed $169,000 GLVAR